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BankingToday

Accounting software program agency Tipalti hits $8.3bn valuation with $270m Sequence F spherical

California-based fintech Tipalti has raised $270 million in a Sequence F funding spherical.

Tipalti has raised $550m in complete funding so far

The corporate says the brand new funding takes its valuation as much as $8.3 billion and locations it “among the many most precious personal fintech corporations on the earth”.

The spherical was led by G Squared with participation from new traders Marshall Wace and funds and accounts managed by Counterpoint International, in addition to present traders Zeev Ventures, Sturdy Capital Companions, and 01 Advisors, amongst others.

Tipalti final raised $150 million in a Sequence E spherical in October 2020 at a $2 billion valuation. It has now secured $550 million in complete funding so far.

The fintech presents a cloud-based automated accounts payable answer to assist companies streamline world payables operations.

Its identify originates from the Hebrew expression for “we dealt with it”.

Its end-to-end platform goals to cowl your entire accounting workflow, together with provider administration, VAT compliance, procurement, bill administration, PO matching, self-billing, world funds, and cost reconciliation.

Tipalti claims it at present processes over $30 billion in annual funds for greater than 2,000 clients.

The corporate introduced its growth into Europe in October with the opening of a London workplace, and has additionally opened new workplaces in Texas and Toronto this yr.

It plans to make use of the brand new funds to gasoline additional world growth and “to speed up its product roadmap and buyer operations”.

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