An American FinTech unicorn plans to more than quadruple its headcount in the UK.
Following Tipalti’s European launch with the opening of its London HQ in October this year, it already has over 50 customers in the region including Hopin, Cazoo, SuperAwesome, Headspace and Time Out.
The firm helps high-velocity businesses eradicate manual payables processes – the most time-consuming function in the finance department.
“We currently have 40 employees in London,” general manager for Europe Robert Israch told BusinessCloud.
“We anticipate creating at least 200 UK jobs over the next three years, covering engineering, product, implementation, customer success, HR, compliance, sales, and more.
“From a business growth perspective, we expect to quadruple next year.”
Tipalti’s growth will be financed by a Series F round of funding which values the company at $8.3 billion.
Led by G Squared, the round also includes significant investments from new investors Marshall Wace and funds and accounts managed by Counterpoint Global (Morgan Stanley), in addition to current investors Zeev Ventures, Durable Capital Partners, 01 Advisors and others.
It takes its total funding raised to date to just over $550m and places it among the most valuable private FinTech companies in the world.
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 and payment reconciliation.
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.