Global payables solution Tipalti has raised $270 million in series F funding at a valuation of $8.3 billion, bringing total funding raised to date to just over $550 million and placing Tipalti among the most valuable private fintech companies in the world, the company announced Thursday.
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Tipalti 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.
Led by G Squared, the Series F round also includes significant investments from new investors Marshall Wace and funds and accounts managed by Counterpoint Global (Morgan Stanley), in addition to current investors Zeev Ventures, Durable Capital Partners, 01 Advisors and others.
"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 organizations to rival those of the Fortune 5000."
Tipalti currently processes over $30 billion in total annual payments volume, growing 120% year over year. 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; Plano, Texas; and Toronto, Ontario, and has grown to over 700 employees worldwide.
