Accounting software firm Tipalti hits $8.3bn valuation with $270m Series F round
California-based fintech Tipalti has raised $270 million in a Series F funding round.
Tipalti has raised $550m in total funding to date
The company says the new funding takes its valuation up to $8.3 billion and places it “among the most valuable private fintech companies in the world”.
The round was led by G Squared with participation from new investors Marshall Wace and funds and accounts managed by Counterpoint Global, as well as existing investors Zeev Ventures, Durable Capital Partners, and 01 Advisors, among others.
Tipalti last raised $150 million in a Series E round in October 2020 at a $2 billion valuation. It has now secured $550 million in total funding to date.
The fintech offers a cloud-based automated accounts payable solution to help businesses streamline global payables operations.
Its name originates from the Hebrew expression for “we handled it”.
Its end-to-end platform aims to cover the entire accounting workflow, including supplier management, VAT compliance, procurement, invoice management, PO matching, self-billing, global payments, and payment reconciliation.
Tipalti claims it currently processes over $30 billion in annual payments for more than 2,000 customers.
The company announced its expansion into Europe in October with the opening of a London office, and has also opened new offices in Texas and Toronto this year.
It plans to use the new funds to fuel further global expansion and “to accelerate its product roadmap and customer operations”.
