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Tipalti, a California-based accounting software firm, has raised $150 million in growth financing from JP Morgan Chase and Hercules Capital. This funding will enable Tipalti to further enhance its product development and customer support, allowing more companies to manage complex payables operations at scale.
- Tipalti raises $150 million in incremental growth financing from JP Morgan Chase and Hercules Capital.
- The financing will help Tipalti expand its services and assist more companies in managing complex payables operations at scale.
- The funding comes after Tipalti’s $270 million Series F in 2021, bringing its total funding to over $550 million and valuing the company at $8.3 billion.
- Sarah Spoja, Chief Financial Officer of Tipalti, highlights the significant growth of the company as more businesses adopt their platform for automating finance operations.
- JP Morgan Chase’s financing strengthens its existing relationship with Tipalti, as the bank has been one of the major global banks used by Tipalti since 2016 for routing billions of dollars worth of supplier payments each month.
- Perla Stoeckart joins Tipalti as Chief Compliance Officer, leveraging her 15+ years of experience in financial services across foreign exchange, online payments, funds transfers, and deposit operations.