Fintech unicorn Tipalti launches in Europe

Wednesday 13 October 2021 10:10 CET | News

Global payables automation platform Tipalti has announced its expansion into Europe with the opening of a London office, according to the official press release.

The unicorn, valued at USD 2 billion+, launches in the market following 83% YoY growth in North America. It estimates to invest GBP 100 million over a five year period, marking a key milestone in its international expansion. Tipalti helps high-velocity businesses eradicate manual payables processes - the most time-consuming function in the finance department - and has more than 1,500 customers including Amazon Twitch, National Geographic, Business Insider, Farmdrop, Hopin, Cazoo, and Time Out.  

Tipalti’s cloud-based solution has been fully localised for the UK - helping high-growth businesses streamline AP processes and execute global payments. Its end-to-end AP offering addresses the entire workflow, including supplier management, VAT compliance, procurement, invoice management, PO matching, self-billing, global payments, payment reconciliation, and more. Its FCA-approved e-money licence gives businesses the ability to manage domestic and cross-border payments, and FX conversion within the holistic payables platform.

As UK businesses continue to grapple with the challenges brought about by the pandemic and Brexit, Tipalti launches at a critical time to allow finance teams to step away from manual financial operations and focus on strategic initiatives to help businesses survive and thrive. New research from Tipalti supports this - revealing UK CFOs admit the pandemic (27%), and rapidly changing regulations and legislation (25%) are two of the top three things that have made their role more complex. And when asked how their role had changed in the last two years, over a quarter (27%) said they have increased responsibility to find new revenue growth, productivity, and profitability opportunities, yet have more manual financial operations work (29%). 

Adding the UK-based subsidiary to the Tipalti group allows it to focus on the market and expand its solutions, including regulated payment services, before expanding to other countries in Europe.

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Keywords: accounts payable, e-money, expansion
Categories: Banking & Fintech
Countries: Europe, United Kingdom
This article is part of category

Banking & Fintech