Tipalti Payments Volume Skyrockets by More than 100%, Increasing to More Than $36 Billion Annualized

B2B fintech unicorn with $8.3B+ valuation touts burgeoning user base and worldwide expansion as accelerants in growth

San Mateo, CA – February 23, 2022 – Tipalti, the leading global payables solution, today announced unprecedented growth in 2021, with payments volume increasing more than 100 percent YoY to more than $36 billion. Coming on the heels of a $270 million series F funding round, Tipalti quadrupled its valuation to $8.3 billion. With a total funding of just over $550 million, it is among the most valuable private fintech companies in the world.

Tipalti’s customer base surged past the 2,000 mark with companies including GoDaddy, Roku, and Roblox relying on its award-winning technology, helping Tipalti maintain an industry-leading 98% customer retention rate. To help these companies control costs and improve spend visibility, Tipalti acquired an integrated cloud procurement solutions provider Approve.com. It also strengthened its multi-entity AP capabilities and added new integrations with additional ERPs and complementary financial tech stack providers.

In October 2021, Tipalti launched its European headquarters in London with an FCA-approved, localized solution for the UK market, expanding the company’s footprint to three continents. Additionally, Tipalti opened new North American offices in Plano, Texas and Toronto, Canada, all which helped drive global employee growth to more than 700 people, a 93% increase over the previous year.

“2021 was our best year yet,” said Chen Amit, co-founder and CEO of Tipalti. “Building on that momentum, we are positioned for an even stronger and more successful year ahead by focusing on two key priorities; the first, as evident by our continued industry-leading low churn rates, is to always put the customer first. In fact, we just hired Venu Yeluripati as our new VP of Global Customer Success to double down on our commitment to make customers our number-one priority. Secondly, we are laser-focused on helping customers grow their businesses by revolutionizing financial operations for high-growth companies. By constantly challenging our own way of thinking about automation, we have pledged to invest more in Product and Engineering in the next 18 months than we have in the past 10 years.”

Other major milestones for Tipalti in 2021 included: 

About Tipalti

Tipalti comes from the Hebrew expression for “We handled it.” Tipalti is the only company handling both Accounts Payable and Mass Payments 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. Tipalti enables high-growth companies to scale quickly by making payables strategic with operational, compliance, and financial controls. Companies can efficiently and securely pay thousands of partners and vendors in 196 countries within minutes. Thousands of companies, such as GoDaddy, Roku, and Automattic use Tipalti to reduce operational workload by 80% and accelerate the financial close by 25%, while strengthening financial controls and spend visibility. For more information, visit tipalti.com.