Website www.tipalti.com | Founded 2010 | |
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Key people Chen Amit, (CEO/Co-Founder), Oren Zeev, (Chairman/Co-Founder) Type of business International Money Transfer, Accounts Payable | ||
Tipalti is an accounting software FinTech business. that provides consolidated accounts payable and remittance services for businesses needing to pay their suppliers. Tipalti is headquartered in Palo Alto, CA with R&D offices in Herzliya, Israel.
History
Tipalti was founded in 2010 by venture capitalist Oren Zeev and Chen Amit with approximately $3 million in funding from private investors and launched its product in 2012
In 2014, the company released a Supplier Portal component to enable Accounts Payable departments automate payments to suppliers, vendors, and independent contractors. In October 2014, the company raised an additional $13 million from venture capital investors led by Wicklow Capital.
On October 2014, Tipalti's CEO Chen Amit stated that the company was processing payments to approximately 300,000 payees and between $1 billion to $1.5 billion annually in payments.
In 2015, Tipalti integrated an intelligent Form W-8 collection solution into its SaaS-based platform.
In 2016, Tipalti released the addition of an invoice management solution to their AP automation technology. The company also expanded tax compliance support for suppliers in Argentina and Brazil. On September 14, 2016, the company announced an additional round of funding lead by SGVC and Dovi Frances for $14 million.
The company is a licensed money transmitter in several states including California and Texas.