Tipalti

US-based PayTech pioneer

Key Data

  • Trading Name: Tipalti
  • Legal Entities: Tipalti B.V. , Tipalti, Inc., Tipalti Solutions LTD
  • Activities: Payment technology provider
  • Location: USA, Netherlands
  • Regulations: Registered money transmitter in U.S, filed application in the Netherlands;
  • Key People: Chen Amit, Oren Zeev

Tipalti is an accounting software financial technology business that provides comprehensive accounts payable and global remittance automation solutions for businesses.

Tipalti was established in 2010 by Chen Amit and Oren Zeev and first launched its product in 2011. The company is a licensed money transmitter in every state that requires it in the United States.

In October 2014, Tipalti’s CEO Chen Amit stated that the company was processing payments to approximately 300,000 payees and between $1 billion to $1.5 billion annually in payments.

On September 24, 2019, Tipalti publicly announced that it had received $76 million in additional funding in a Series D round led by Zeev Ventures. The round also included additional funding from Group 11, along with new investors 01 Advisors and Greenspring Associates. 01 Advisors is the fund founded by former Twitter CEO and COO Dick Costolo and Adam Bain, who used Tipalti when they ran Twitter (Twitter still uses Tipalti today).

Offering

Tipalti is a payables automation solution that automates all phases of the accounts payable and payments workflow in one holistic cloud platform. Tipalti aims to make it painless for finance departments to manage their entire global payables operation by streamlining:

  • Supplier onboarding and vetting
  • Tax and regulatory compliance
  • Purchase order management
  • Invoice processing, 2 and 3-way PO matching, and approvals
  • Global payment remittance, allowing a range of payment methods and currencies
  • Early payments
  • Proactive communications of supplier payment status, issue resolution, and fraud detection
  • Enterprise-grade financial controls
  • Real-time payment reconciliation
  • Integrated with any ERP and accounting system
  • AP and tax reporting

 

News

In Januar 2023 they announced that Tipalti was laying off 123 employees, representing 11% of its total workforce of 1,086.

Conclusion

Since we could not find any irregularities around the company, we classify it as Green.

Update 13. June.

 

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Jurisdiction

United States

Legal Entities

Tipalti B.V.
Tipalti, Inc.
Tipalti Solutions LTD
Tipalti Payments, Inc.,
Tipalti Europe LTD,
Tipalti Canada, Inc.
Tipalti B.V.

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