Tipalti raises US$270 million as it prepares to go public

Tipalti, a payments provider, has raised $270 million in a round headed by G Squared, valuing it at $8.3 billion. According to the company, its new valuation places it among the top 15 most valuable privately held fintech companies in the world.

Tipalti, which is on the verge of becoming a decacorn, automates the accounts payable process for mid-size, high-growth businesses. It addresses issues such as tax compliance, supplier onboarding, and currency management with a localized cloud tool.

Tipalti has retained current investors Zeev Ventures and Durable Capital Partners for its Series F round, as well as recruiting new investors Marshall Wace and Morgan Stanley’s Counterpoint Global Fund. The company was looking for fresh investors to help it achieve its IPO goals on the New York Stock Exchange.

“So we’re not rushing to go public, but we know that this is on the horizon,” says Chen Amit, co-founder, and CEO of Tipalti. “We were looking for crossover investors, investors that like to invest just before going public, then invest in the IPO and continue investing after the IPO to have a smooth transition from public to private.”

The money will go toward the company’s next virtual and physical card solutions, as well as partnerships with expenditure fintechs like Expensify and Zenworks. Approve.com, a cloud procurement solutions provider, was recently bought by the corporation for an undisclosed sum.

The post Tipalti raises US$270 million as it prepares to go public appeared first on PAN Finance.

Trade the News!

Seize the market opportunities!
Start trading with a reliable broker.
Let an expert help you get started!


Comments

Leave a Reply

Your email address will not be published. Required fields are marked *