Accounting software firm Tipalti lands $150m growth financing
California-based fintech Tipalti has raised $150 million in incremental growth financing from JP Morgan Chase and Hercules Capital.
Tipalti raises $150 million in incremental growth financing
Tipalti says the financing will allow it to help even more companies manage “complex” payables operations at scale through investments in product development and customer support.
The financing comes after the firm raised a $270 million Series F in 2021 which brought its total funding to more than $550 million and valued the firm at $8.3 billion.
Chief financial officer Sarah Spoja says: “Tipalti is seeing tremendous growth as more and more companies adopt our platform to automate their finance operations.”
The financing from JP Morgan Chase builds on the relationship between the bank and Tipalti. Since 2016, JPMorgan Chase Bank has served as one of the three major global banks Tipalti uses to route “billions of dollars’ worth” of supplier payments each month on behalf of its customers.
Tipalti has also appointed Perla Stoeckart joins as chief compliance officer, who brings more than 15 years of experience in financial services across foreign exchange, online payments, funds transfers and deposit operations.
Despite 15 years of existence, a company is still unprofitable?
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