Tipalti raises £204 Million from the VCs
This month, Payhawk raised $112 million for its expansion plans and till now the companies have raised over $5.60 billion.
London based global payables automation solutions company Tipalti has announced that it has raised £204 million ($269 million) in a series F funding round. With this, the company is now valued at £6.3 billion and till now the company has raised over £417 million.
The funding round was led by G Squared and includes other investors such as Marshall Wace, Counterpoint Global (Morgan Stanley), and current investors such as Zeev Ventures, Durable Capital Partners and 01 Advisors.
The company has noted that back in October it had announced Europe expansion and with the use of this funding the company will accelerate its product roadmap, customer operations and global expansion.
“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”, said Chen Amit, co-founder and CEO of Tipalti.
As per the press release, the company processes over $30 billion in total annual payments volume and is growing at 120% year over year. In October, the company raised $150 million in its series E round of funding.