FinTech unicorn Tipalti has announced 聽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鈥檚 CEO is Chen Amit and he鈥檚 overseen 83% year-on-year growth in North America and boasts customers that include聽Amazon Twitch,聽Cazoo聽and聽Hopin.
Its FCA-approved cloud-based platform is the UK鈥檚 first solution to automate the entire accounts payable (AP) process and manage global payments 鈥� 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鈥檚 experienced CMO Robert Israch has moved from San Francisco to London and taken on the role of general manager.
Israch said: 鈥淭here鈥檚 a clear need and benefit for Tipalti鈥檚 technology in聽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.
鈥淲e 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鈥檚 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.鈥�
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Tipalti鈥檚 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聽over 50 customers, including Europe鈥檚 fastest growing start-up 鈥� the event technology platform Hopin.
Melissa Richards, senior accounts payable analyst at Hopin, said:聽鈥淭he 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.
鈥淲e 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.
鈥淪ince we synced all our solutions in one bundle, we don鈥檛 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.鈥�