Tipalti

Entrepreneurs Chen Amit and Oren Zeev raised capital from investors in their personal networks in the summer of 2010 to start Tipalti after observing popular payment processors, such as PayPal, Square, and Stripe, concentrating their efforts on collecting payments.{{cite news|title=Tipalti Dramatically Simplifies Worldwide Payment for Mass-Payers|date=August 3, 2012|first=Michael|last=Carney|url=http://pando.com/2012/08/03/tipalti-dramatically-simplifies-worldwide-payment-for-mass-payers|publisher=PandoDaily}}{{cite news|title= Startup Tipalti Introduces Tools to Tackle Global Mass Payments|date=November 5, 2013|first=Heather|last=Huhman|url=http://www.businessinsider.com/startup-tipalti-introduces-tools-to-tackle-global-mass-payments-2013-11/|publisher=Business Insider}}

In contrast, Amit and Zeev focused on building a mass payments software-as-a-service platform and application programming interface (API) for companies needing to pay 100 or more parties worldwide or multiple payment options.

Tipalti became a licensed money transmitter in various US states, the UK, and across the European Union to process remittances and began offering automated mass payments in September 2011.{{cite news|title= Tipalti Simplifies Global Payment Complexity|date=October 2, 2012|first=Peter|last=Cohan|url=https://www.forbes.com/sites/petercohan/2012/10/02/tipalti-simplifies-global-payment-complexity/|work= Forbes}} The service was originally popular with ad exchanges, ad networks, affiliate networks, and publishers because of the high volume and complexity of making payments, fraud risk, and regulation in the online advertising industry.{{cite news|title=Tipalti Streamlines Mass, Global Payments For Ad Networks, Publishers, Affiliates And More|date=December 11, 2013|first=Leena|last=Rao|url=https://techcrunch.com/2013/12/11/tipalti-streamlines-mass-global-payments-for-ad-networks-publishers-affiliates-and-more/|publisher=TechCrunch}}

On April 12, 2021, Tipalti announced it acquired the cloud procurement services firm Approve.com to expand its product to "improve company-wide spend visibility and greatly strengthen their spend and financial controls," Amit said in a prepared statement announcing the acquisition.{{cite news|title=Payables automation popularity bolsters Tipalti further in 2021|date=July 14, 2021|url=https://finledger.com/articles/payables-automation-popularity-bolsters-tipalti-further-in-2021/|first=Alex|last=Roha|publisher=FinLedger}}{{cite news|title=Tipalti Buys Procurement Tech Firm Approve.com|date=April 12, 2021|url=https://www.pymnts.com/news/b2b-payments/2021/tipalti-buys-procurement-tech-firm-approve-com/|publisher=PYMNTS}} The acquisition, the company's first, enabled Tipalti to automate the entire accounts payable cycle and support more finance operations and workflows.

Tipalti helps mid and large-sized companies pay contractors, employees, suppliers, and vendors in different currencies and more than 190 countries by ACH bank transfer, cash through Western Union, check, direct deposit, PayPal, prepaid debit card, virtual cards,{{Cite web|date=September 14, 2022|title=Tipalti rolls out virtual 'card'|url=https://www.accountingtoday.com/news/tipalti-rolls-out-virtual-corporate-credit-card|first=Chris|last=Gaetano|publisher=AccountingToday}} and wire transfer. The mass payments platform disburses funds from the customer's bank account, not third-party transfers.

Companies use Tipalti's API on their website to automate and schedule payments and finance operations natively through a white-labeled payments system. The software also allows accounting and finance departments to manage compliance, enterprise resource planning, expenses, intake and procurement, invoices, payment cards, reconciliation, suppliers, and taxes.{{cite news|title= Tipalti lands $13M to become a bigger international payment platform|date=October 22, 2014|first=Barry|last=Levine|url=https://venturebeat.com/2014/10/22/tipalti-lands-13m-to-become-a-bigger-international-payment-platform/|publisher= VentureBeat}}

Tipalti's software uses AI and machine learning to automate data entry and other financial tasks;{{cite news|title=Getting employees ahead of the AI learning curve: Tipalti CFO|date=May 21, 2024|first=Grace|last=Noto|url=https://www.cfodive.com/news/getting-employees-ahead-ai-learning-curve-tipalti-cfo/716757/|publisher=CFO Dive}}{{cite news|title=GeAI and career growth: What payments executives should know|date=July 5, 2024|first=John|last=Adams|url=https://www.americanbanker.com/payments/news/ai-and-career-growth-what-payments-executives-should-know|publisher=American Banker}} it also integrates and syncs with different accounting software, including QuickBooks.{{Cite news|title=Tipalti Streamlines QuickBooks Online Integration for Accounts Payable|date=October 23, 2018|first=William|last=Murphy|url=https://insightfulaccountant.com/accounting-tech/vendor-news/tipalti-streamlines-quickbooks-online-integration-for-accounts-payable/#.W_XcEZNKhTY|publisher=Insightful Accountant}}

Tipalti has raised more than $700 million in venture-capital funding from investors including JPMorgan Chase, G Squared, Morgan Stanley’s Counterpoint Global investment team, and others since its founding to support its operations.{{Cite news|title=Tipalti Executives Comment on What Goes Into Making Debt Financing Deals|date= June 26, 2023|first=Omar|last=Faridi|url=https://www.crowdfundinsider.com/2023/07/210613-tipalti-executives-comment-on-what-goes-into-making-debt-financing-deals/|publisher=Crowdfund Insider}}

== References ==

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Category:Accounting software

Category:Business software

Category:Financial technology

Category:Online payments

Category:Payment service providers

Category:Companies based in Foster City, California

Category:Financial services companies established in 2010

Category:2010 establishments in California

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