Global payables automation platform Tipalti has raised $150 million in incremental growth financing from JPMorgan Chase Bank and Hercules Capital Inc. Coming on the heels of a $270 million Series F in 2021 that brought the company’s total funding to over $550 million, this latest raise will enable Tipalti to further invest in product innovation and supporting its customers.
The transaction also extends the relationship between JPMorgan Chase 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.
With transactions soaring by 50% in 2022 to a total annualized payments volume of $43 billion, Tipalti’s cloud-based platform automates the entire accounts payable process, making it easy for its more than 3,000 mid-market customers to pay suppliers across over 196 countries. With the support from these new partners, Tipalti will be able to help even more companies that need to manage complex payables operations at scale.
Tipalti also announced that three new executives have joined its C-suite, including:
- Perla Stoeckert, Chief Compliance Officer, has more than 15 years of experience in financial services, including foreign exchange, online payments, funds transfers and deposit operations. Prior to Tipalti, Perla served in executive global roles in risk and compliance at OFX, FXCM and Commonwealth Foreign Exchange (MoneyCorp).
- Alice Davidson, General Counsel, is a Securities/M&A lawyer by trade with 15-plus years of experience, including deep fintech, paytech and crypto expertise. Before Tipalti, Alice was the Chief Legal Officer at Mogo Inc. where she provided counsel on acquisitions, investments, financings and partnerships, and led government relations. Prior, she was an associate at Stikeman Elliott LLP, focused on public M&A, corporate finance and corporate governance.
- Des Cahill, Chief Marketing Officer, has spent the majority of his 35-year career helping companies in Silicon Valley B2B SaaS software scale and execute successful exit strategies. Des most recently served as Global VP overseeing product marketing at Oracle and held leadership roles at companies including Kerio Technologies, Ensighten, AOL, HP and Apple.
Tipalti is a proud sponsor of Insightful Accountant's Top 100 ProAdvisor and ProAdvisor of the Year Awards for 2023.
Tipalti | First Look
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