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Israeli fintech firm Tipalti soars to over $8b valuation after $270m investment

21 3 10

Israeli fintech firm Tipalti, a developer of payments and compliance solutions, has soared to a valuation of over $8 billion after a fresh $270 million investment, the company announced on Wednesday.

Tipalti, which in Hebrew means “I handled it,” raised $150 million last October at a valuation of $2 billion. This Series F round, led by Swiss multinational G Squared, allowed Tipalti to quadruple its worth following a strong year, the company indicated.

Tipalti said it processes over $30 billion in total annual payments volume, growing 120% year over year. The company was founded in 2011 by Chen Amit, who serves as CEO, offering a cloud-based platform that allows clients to handle financial tasks such as payments to suppliers (accounts payable), tax and VAT compliance, and invoice management, across borders in a range of currencies.

Its customer roster includes Amazon, Twitter, GoDaddy, Vimeo, and GoPro.

London-based hedge fund Marshall Wace joined the funding round as a new investor, as did Morgan Stanley Counterpoint Global. Tipalti’s existing investors Zeev Ventures, Durable Capital Partners, and 01 Advisors, a fund founded by former Twitter CEO Dick Costolo and COO Adam Bain, also........

© The Times of Israel

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