FinTech unicorn Tipalti has announced its expansion into Europe with the opening of a London office.
The $2bn+ valued global payables automation platform say the move will create more than 200 UK jobs over the next three years.
The unicorn’s CEO is Chen Amit and he’s overseen 83% year-on-year growth in North America and boasts customers that include Amazon Twitch, Cazoo and Hopin.
Its FCA-approved cloud-based platform is the UK’s first solution to automate the entire accounts payable (AP) process and manage global payments – removing the cost drain on finance teams manually doing the work and freeing them up so they can support strategic initiatives.
As part of its expansion into Europe Tipalti’s experienced CMO Robert Israch has moved from San Francisco to London and taken on the role of general manager.
Israch said: “There’s a clear need and benefit for Tipalti’s technology in the UK. We know the strong desire for businesses in the market to scale, in fact almost a third of UK CEOs said international growth is a top priority in 2021 and beyond. However, time-consuming manual finance processes and piecemeal solutions are holding them back. We want to change this.
“We know, now more than ever, and in this current climate, finance teams need to be empowered with great technology that modernises finance departments and provides finance leaders with greater visibility and control.
“Tipalti’s scalable solution is purpose-built to help businesses achieve their ambitious growth plans and meet changing needs, whilst also managing the major payables and financial operations challenges brought with this.”
Tipalti’s cloud-based end-to-end AP offering addresses the entire workflow, including supplier management, VAT compliance, procurement, invoice management, PO matching, self-billing, global payments and payment reconciliation.
Tipalti Europe has already seen great traction in the market with over 50 customers, including Europe’s fastest growing start-up – the event technology platform Hopin.
Melissa Richards, senior accounts payable analyst at Hopin, said: “The pandemic sparked a high demand for virtual events across the globe. This resulted in the finance team at Hopin manually processing lots of international payments – it was time consuming and complicated.
“We knew we needed a solution that would be able to scale with us and give us the visibility and overview needed to help grow the business. Tipalti has future-proofed our processes.
“Since we synced all our solutions in one bundle, we don’t have any manual intervention. Our workflow is quick and easy with all our payment processes in one central location – the days of juggling different systems and exporting files are long gone! With the implementation of Tipalti, we can continue to scale and not have to add more headcount to keep up.”