B2B fintech co Tipalti raises $270m at $8.3b valuation

Chen Amit Private photograph

The Israeli global payables solution company has more than quadrupled its valuation over the past year.

Israeli B2B fintech company Tipalti today announced the completion of a $270 million Series F financing round at a valuation of $8.3 billion led by G Squared, with major investments from new investors Marshall Wace and funds and accounts managed by Counterpoint Global (Morgan Stanley). Existing investors Zeev Ventures, Durable Capital Partners, 01 Advisors and others also participated in the round bringing the total funds raised by Tipalti to more than $550 million.

The company, which has developed a global payables solution enabling customers to automate, modernize and optimize their entire global payables operation, has more than quadrupled its valuation since it raised $150 million at a $2 billion valuation in October 2020. Tipalti is now the third most valuable Israeli privately held tech company after fintech company Rapyd ($8.7 billion), cybersecurity company Snyk ($8.5 billion) and ahead of revenue intelligence company Gong ($7.2 billion). According to CB Insights, Tipalti is now the 14th largest privately-held fintech company worldwide.

Tipalti was founded in 2010 by CEO Chen Amit and investor and chairman Oren Zeev. Amit said, "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. 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 the ocmpany 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 exceeded the 2,000-customer mark, opened new offices in London, Plano, Texas; and Toronto and has grown to over 700 employees worldwide including 300 in Israel. 

Published by Globes, Israel business news - en.globes.co.il - on December 8, 2021.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2021.

Chen Amit Private photograph
Chen Amit Private photograph
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