Tipalti team. credit Rami Sinai
Tipalti, an Israeli fintech unicorn (a company with at least a $1 billion valuation) that creates and runs a global financial transfer network, raised $150 million in a credit financing round from JPMorgan Chase Bank and Hercules Capital, Inc. In December 2021, Tipalti hit super unicorn status with an 8.3 billion valuation, which came after the company raised $270 million in a Series F fundraising round.
Tipalti might be in need of the infusion of cash as the firm, along with much of Startup Nation Israel, has been hit by the ongoing global financial crisis. In January of this year, Tipalti was forced to lay off about 11% of its workforce, or 123 people.
Founded in 2010 by CEO Chen Amit, and Oren Zeev, Tiplati has raised $550 million to date in several rounds, at a value that reached $ 8.3 billion this year, placing it among the 15 private fintech companies with the highest valuation in the world.
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The company has offices in Israel, the United States, Canada, the United Kingdom, the Netherlands, and soon Australia. The Israeli development center currently employs 350 people.
Tiplati surged during the Covid crisis. The number of money transactions owing to businesses and organizations using online technologies. Tipalti’s clients includes Amazon Twitch, Twitter, Business Insider, GoDaddy, Fiverr, and Vimeo. It transfers $30 billion annually.
In 2021 Tipalti bought the Israeli company Approve.com, which creates cloud-based acquisition solutions.
“We still have 60% of the money we raised in 2021. We don’t need to raise equity capital at this time,” Tipalti CEO and co-founder Chen Amit told Calcalist. “We received excellent conditions for raising money and this opens up a lot of possibilities for acquisitions. It is mainly an insurance policy, even though we are in a very good situation and do not feel what other companies are reporting. We are still experiencing significant growth. We don’t see customers leaving and we are growing in the number of customers and the volume of transactions. In our world, we don’t feel the economic crisis like others, mainly because we work in accounting controls and controlling procurement expenses.”
