Global payables automation company Tipalti has raised $270m (£204m) in Series F funding, bringing its valuation to $8bn (£6.3bn).
The round 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.
Total funding raised to date by Tipalti now stands at $550m (£417m). The FinTech unicorn provides accounts payable solutions that enable clients to automate, modernise and optimise workflows. Its tool suite includes invoice management, payment APIs, tax compliance, payment reconciliation, supplier management and more.
Tipalti said it will use the funding to accelerate its product roadmap and customer operations, as well as expand globally to transform global financial operations for high-velocity customers.
Chen Amit, co-founder and CEO of Tipalti, said, “This latest investment will enable Tipalti to add more to our product lines and capabilities in the next 18 months than we have over the past 10 years combined.
“We are on a journey to transform financial operations, relieve finance leaders from those mundane, cumbersome, risky tasks, and elevate the financial capabilities for high velocity organisations to rival those of the Fortune 5000.”
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