Tipalti, a San Mateo, CA-based global payables solution provider, raised $270m in Series F funding at a valuation of $8.3 billion.
The round, which brought total funding raised to date to over $550m, was led by G Squared, with participation 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.
The company intends to use the funds to accelerate its product roadmap and customer operations, as well as expand globally.
Led by Chen Amit, co-founder and CEO, Tipalti provides a fintech platform that handles both Accounts Payable and Mass Pay workflows for high-velocity companies across the entire financial operations cycle: onboarding and managing global suppliers, instituting procurement controls, streamlining invoice processing and approvals, executing payments around the world and reconciling payables data across a multi-subsidiary finance organization. Companies, such as Amazon Twitch, GoDaddy, Roku, WordPress.com, and ZipRecruiter, can securely pay thousands of partners and vendors in 196 countries within minutes.
Tipalti currently processes over $30 billion in total annual payments volume recently passing the 2,000-customer mark, and opening new offices in London, U.K.; Plano, Texas; and Toronto, Ontario. It has over 700 employees worldwide.