Tipalti, a global payables platform announced on Tuesday it surpassed $5 billion in annual transactions, with over 3 million suppliers onboard on the platform. According to the company, these milestones follow its more than doubled new business bookings in Q2 2018 versus Q2 2017 and became licensed as a Money Transmitter in every state in which it’s required. They also follow the company recent Series C funding round, which secured $30 million. The company also just recently moved into a new office space in San Mateo to accommodate its expanding team
Founded in 2010, Tipalti claims it is the open supplier payments automation solution to streamline all phases of the AP and payment management workflow in one holistic cloud platform. The company stated it painless for accounts payable departments to manage their entire supplier payments operation.
“The solution addresses everything from supplier onboarding and vetting, to tax and regulatory compliance, invoice processing, payments to suppliers anywhere in the world in a wide range of payment methods and currencies, supplier payment status communications, to closing the loop with payment reconciliation and reporting.”
Along with announcing the two milestones, Tipalti also announced it has appointed Sarah Dickens Spoja as its new CFO. Tapalti reported that Dickens Spoja joins its team from KKR Capstone, where she worked with portfolio companies in the Financial Services and Retail Sectors, including First Data Corporation and Academy Sports + Outdoors. Speaking about Dickens Spoja’s appointment, Chen Amit, CEO and Co-Founder of Tipalti, added:
“Her deep finance and operational expertise and knowledge of scaling companies will be crucial for us as we continue making fast headway toward our mission of freeing finance from manual payables operations, so that CFOs can focus finance on driving strategic impact for their businesses.”