Tipalti

Tipalti
International Money Transfer, Accounts Payable
Founded 2010
Headquarters Palo Alto, CA United States
Key people
 Chen Amit, (CEO/Co-Founder), Oren Zeev, (Chairman/Co-Founder)
Website www.tipalti.com

Tipalti is an accounting software FinTech business.[1][2] that provides consolidated accounts payable[3] and remittance services for businesses needing to pay their suppliers.[4] Tipalti is headquartered in Palo Alto, CA[5] with R&D offices in Herzliya, Israel.[6]

History

Tipalti was founded in 2010 by venture capitalist Oren Zeev and Chen Amit with approximately $3 million in funding from private investors and launched its product in 2012[7][8][9][10]

In 2014, the company released a Supplier Portal component to enable Accounts Payable departments automate payments to suppliers, vendors, and independent contractors.[11][12] In October 2014, the company raised an additional $13 million from venture capital investors led by Wicklow Capital.[13][14][15]

On October 2014, Tipalti's CEO Chen Amit stated that the company was processing payments to approximately 300,000 payees and between $1 billion to $1.5 billion annually in payments.[6][16]

In 2015, Tipalti integrated an intelligent Form W-8 collection solution into its SaaS-based platform.[17]

In 2016, Tipalti released the addition of an invoice management solution to their AP automation technology. The company also expanded tax compliance support for suppliers in Argentina and Brazil.[18] On September 14, 2016, the company announced an additional round of funding lead by SGVC and Dovi Frances for $14 million.[19]

The company is a licensed money transmitter in several states including California[20] and Texas.[21]

References

  1. ↑ Boitnott, John (June 19, 2015). "8 Ways Financial Technology Will Evolve in 2016". Inc.com.
  2. ↑ Marquit, Miranda (May 20, 2015). "30 Hot Fintech Startups You Should Be Watching". AllBusiness.com.
  3. ↑ Macinas, Melanie. "Tipalti Rolls Out New Supplier Payment System". Payment Week. Retrieved 19 January 2016.
  4. ↑ O'BANNON, ISAAC M. "New Form W-8 Solution Integrated Into Global Payments Platform". CPA Practice Advisor. Retrieved 19 January 2016.
  5. ↑ Calvey, Mark (Dec 17, 2014). "Payments startup Tipalti moves HQ to Palo Alto from Southern California". Bizjournals.com.
  6. 1 2 Levine, Barry (October 22, 2014). "Tipalti lands $13M to become a bigger international payment platform". VentureBeat.com.
  7. ↑ Carney, Michael (August 3, 2012). "Tipalti Dramatically Simplifies Worldwide Payment for Mass-Payers". PandoDaily.
  8. ↑ Rao, Leena (December 11, 2013). "Tipalti Streamlines Mass, Global Payments For Ad Networks, Publishers, Affiliates And More". TechCrunch.com.
  9. ↑ Cohen, Peter (October 2, 2012). "Tipalti Simplifies Global Payment Complexity". Forbes.
  10. ↑ Huhman, Heather (November 5, 2013). "Startup Tipalti Introduces Tools to Tackle Global Mass Payments". Business Insider.
  11. ↑ Macinas, Melanie (August 24, 2014). "Tipalti Rolls Out New Supplier Payment System". Payment Week.
  12. ↑ "Tipalti Launches an Automated Supplier Payment System". Supply & Demand Chain Executive.
  13. ↑ "Tipalti Lassos In $13 Million In Series B Funding". PYMNTS.com. Retrieved 15 December 2015.
  14. ↑ "Capital Gains: Ello Gets $5.5 Million, Mitel's $540 Million Offer for ShoreTel and More". Re/code. Retrieved 15 December 2015.
  15. ↑ "Cloud Payouts Management Tipalti Raises $13 Million to Expand Services". Jewish Business News. Retrieved 15 December 2015.
  16. ↑ "Tipalti Adds Tax Documents to Payments Tech". PaymentsSource. Retrieved 15 December 2015.
  17. ↑ "Tipalti Adds W-8 Solution to Global Payments Platform". Accounting Technology. Retrieved 15 December 2015.
  18. ↑ "Cross-Border, The Tax ID Cometh | PYMNTS.com". www.pymnts.com. Retrieved 2016-09-08.
  19. ↑ "Term Sheet — Wednesday, September 14". Fortune. 2016-09-14. Retrieved 2016-09-14.
  20. ↑ "Directory of Money Transmitters". Department of Business Oversight, State of California.
  21. ↑ "Money Services Business Entities". Department of Banking, State of Texas.
This article is issued from Wikipedia - version of the 9/14/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.