Payments automation platform sets up in Amsterdam
Tipalti, a provider of automated software solutions for global payables, has established an office in Amsterdam. The company has said it sees the city not only as a gateway to key Benelux markets, but also as a stepping stone into continental Europe. The international expansion comes after receiving record funding and in response to growing demand for greater efficiency within financial departments of companies, after many have struggled with the economic uncertainties of the past two years.
A growing platform to help grow other businesses
Originally founded in Israel in 2010, Tipalti has rapidly grown in the past three years, achieving unicorn status and going on to become valued at €8.15 billion. Now headquartered in California, the company has seen significant growth, with more than 500 employees and a total of €540 million in funding – almost half of which it raised in December 2021, shortly after opening its London office.
According to Tipalti, that funding round was partly intended to push for wider international expansion. Serving clients including Tier, Uber, Vimeo and Twitter, Tipalti’s product simplifies and automates complex manual payables processes. Given the economic instabilities of the past two years, many businesses are motivated to maximise efficiency and cut costs.
“We see the Benelux region, with its large number of innovative and internationally oriented companies – in many cases with complex subsidiary structures – as the right stepping stone to the rest of Europe,” says Martijn Janssen, sales director EU at Tipalti. “Opening an office in Amsterdam is the result of significant demand from this region for the capabilities of our platform.”
Fintech and payment solutions in Amsterdam
Tipalti is the latest fintech addition to the city. Startups Payhawk, Yokoy and Pleo have all opened offices or European headquarters in Amsterdam this year. The city has also welcomed and fostered many other fintech unicorns, such as Backbase, Bunq and Mollie, and attracted investment in fintech and the startup ecosystem more widely at record levels throughout the fluctuations of 2022. At international industry events such as Money 20/20, the city brings together the global fintech community, setting the stage for a new future of finance – in and beyond Europe.