Tipalti
“Can an AP-automation platform with its own money-transmitter licenses become the financial operating system for mid-market global finance teams?”
Founded2010
HQFoster City, California, USA
Total raised$906M
Latest roundSeries E, $150M (2020)
Valuation$2B+ (2020)
IndustryHorizontal SaaS / Accounts Payable & Spend Management
The story
Founded 2010 to solve global mass payouts for marketplaces and ad networks, Tipalti expanded from a pure payouts engine into a Connected Suite covering AP automation, procurement, expense management, and corporate cards. The strategic shift mirrors BILL and Ramp's playbook — capture finance teams via AP, then layer card issuance and spend management on top. Tipalti's differentiator is its in-house EMI/MSB licensing and direct relationships with Tier-1 banks (Citi, JPMorgan, Wells Fargo, Visa) rather than relying on intermediary fintechs.
Last 12 months
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Product timeline
2010
Founded by Chen Amit and Oren Zeev to automate global mass payouts· pivot
2019
Raised $76M Series D· funding
2020
Raised $150M Series E, achieved unicorn status at $2B+ valuation· funding
2021
Expanded into AP automation suite (procurement, expenses)· pivot
2022
Launched Tipalti Card (corporate/debit card program)· card
Regulated entities
Money Transmitter License (MSB)
US (multiple states)
Tipalti Payments, Inc.
EMI
UK
Tipalti Solutions LTD
EMI
EU (Netherlands)
Tipalti B.V.
The stack
Payments / PSP
Tipalti Payments (in-house)Adyen (pay-in partner)Checkout.com (pay-in partner)BlueSnap (pay-in partner)GoCardless (pay-in partner)
Banking / BaaS
Card issuing
Open banking
FX & payouts
Accounting
Accounting gap: none