Tipalti, a global payables solution, has announced it has raised $270 million in Series F funding. Now valued at $8.3 billion, this round brings Tipalti’s total funding raised to date to just over $550 million and places it among the most valuable private fintech companies in the world.
Led by G-Squared, the Series F round also includes significant investments from new investors Morgan Stanley Investment Management and Marshall Wace Capital Management, in addition to current investors Zeev Ventures, Durable Capital Partners, 01 Advisors and others.
Tipalti, which announced its expansion into Europe in October with the opening of a London office, will use the funding to accelerate its product roadmap and customer operations, as well as expand globally to transform global financial operations for high-velocity customers.
“This latest investment will enable Tipalti to add more to our product lines and capabilities in the next 18 months than we have over the past 10 years combined,” said Chen Amit, Co-founder and CEO of Tipalti. “We are on a journey to transform financial operations, relieve finance leaders from those mundane, cumbersome, risky tasks, and elevate the financial capabilities for high-velocity organisations to rival those of the Fortune 5000.”
“We are delighted to extend our support of Tipalti, which we believe provides a best-in-class solution for a massive greenfield segment looking to transform payables processes through automation. Tipalti’s platform works to provide its clients with extraordinary savings and productivity gains, thereby creating operating leverage to support growth. The company’s customer acquisition and retention rates are among the best we’ve seen, and we are confident its strong management team will continue to build on Tipalti’s success,” said Larry Aschebrook, Founder & Managing Partner, G Squared.
Tipalti’s solution is the first of its kind in the UK – automating the entire accounts payable (AP) process, while also executing global payments. Its cloud-based solution has been fully localised – helping high-growth businesses streamline AP processes and execute global payments. Its end-to-end AP offering addresses the entire workflow, including supplier management, VAT compliance, procurement, invoice management, PO matching, self-billing, global payments, payment reconciliation and more. Its FCA-approved e-money licence gives businesses the ability to manage domestic and cross-border payments, and FX conversion within the holistic payables platform.
Tipalti currently processes over $30 billion in total annual payments volume—growing 120% year over year. Last October, the company announced its Series E round — $150 million at a $2B valuation. This year it launched enhanced capabilities, including the acquisition and integration of cloud procurement solutions provider Approve.com, enhanced multi-entity AP capabilities, cards, mobile and added new integrations with complementary financial tech stack providers. Tipalti also passed the 2,000-customer mark, opened new offices in London UK, Plano Texas, and Toronto Ontario, and has grown to over 700 employees worldwide.