Tipalti, an American and Israeli firm which provides a cloud payouts management automation platform, announced a $13 million Series B funding round led by Wicklow Capital.
The company has said that it plans to use the new round of funding to aggressively grow sales and marketing, to invest in product development and R&D, and to expand its business to new verticals and markets.
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If you run an international business of whatever size then you know how difficult it can be to coordinate both payments to vendors and the receipt of payments across many different countries. Different nations have different laws, taxes and regulations that all must be observed and obeyed. Even if you are a foreign citizen whose business is located in another country you could open both yourself and your business to fines and possible criminal liability and ignorance is not always an excuse.
Tipalti.com boasts that it is the world’s most powerful pay-outs management automation platform. Tipalti automates the entire mass global payments operations process, making it easy to pay any vendor, partner, or customer across 190 countries while ensuring all tax and regulatory requirements are met and enhancing the customer payment experience.
Tipalti’s Software as a Service solution serves companies with high volume, high complexity payables operations, such as advertising networks, affiliate networks, monetization, digital goods and services, ISPs, crowdsourcing, crowdfunding, and marketplaces.
“Thanks to our funders, we will accelerate the expansion of our team and our business and continue to build out the world’s most advanced pay-outs management automation system, ” said Chen Amit, CEO and co-founder of Tipalti.
“We plan to introduce significant innovations like the recently released Risk Management Module (RMM) and the automated Supplier Portal that have already helped to automate the payables and remittance operations of some of the world’s fastest-growing, global companies. Through our technology, companies can focus on growing their businesses more effectively, rather than on using their valuable resources to handle pay-outs processing, payment issue resolution and government and tax compliance. Tipalti’s technology also enhances their partners, vendors, and customers’ payments experience by providing greater choice of payment methods and currency while eliminating processing errors.”
Tipalti currently serves more than 250, 000 payees and processes over $1 billion annually. Customers include Chartboost, TouchofModern, PulsePoint, Disqus, Matomy, A4D, MUNDOmedia, Perion Codefuel, ClickDealer, Infolinks, and Tapjoy.
Wicklow Capital was founded by Daniel Tierney and Stephen Schuler, co-founders of GETCO and current board members of KCG Holdings, Inc.
