Tipalti, a payables automation platform, has scored $150m in incremental growth financing from JPMorgan Chase Bank and Hercules Capital.
Tipalti’s cloud-based platform automates the entire accounts payable process, making it easy for its more than 3,000 mid-market customers to pay suppliers across over 196 countries. With the support from these new partners, Tipalti will be able to help even more companies that need to manage complex payables operations at scale.
This transaction also extends the relationship between JPMorgan Chase Bank and Tipalti. Since 2016, JPMorgan Chase Bank has served as one of the three major global banks Tipalti uses to route billions of dollars worth of supplier payments each month on behalf of its customers.
The company will use the funding from this latest raise to enable it to further invest in product innovation and supporting its customers.
Tipalti CEO Sarah Spoja said, “Tipalti is seeing tremendous growth as more and more companies adopt our platform to automate their finance operations.
“It’s a privilege to work with world-renowned leaders like J.P. Morgan and Hercules Capital whose support of Tipalti enables us to accelerate the evolution of our innovative solutions so we can continue to deliver exceptional value to our customers around the globe.”
Aibidia, a transfer pricing platform, has scored €13m in a Series A round co-led by DN Capital and FPV Ventures.
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