Unicorn Tipalti continues European expansion

Fintech unicorn Tipalti is continuing its expansion into Europe following its launch in the UK last year. 

The automated global payables solution, valued at $8.3bn, now has more than 100 UK-based customers and is adding a mainland Europe division to try to establish itself as a key player in the region.

The team has opened a Benelux office in Amsterdam, which it hopes will pave the way for further international expansion.

“The UK launch was a huge milestone for Tipalti and adoption has exceeded our expectations,” Tipalti general manager for Europe Rob Israch said.

“We already see a lot of demand for our solutions in mainland Europe and by opening up our EU market, this presents even greater opportunities for growth while also strengthening our solutions for our UK and US clients.”

According to the company, finance teams in Benelux spend almost half their time on manual processes.

Tipalti aims to offer a solution to this, helping companies looking to address efficiency issues and scale.

“Now more than ever, businesses need to work efficiently to ensure they have a long-term solution that drives sustainable growth and frees time for finance to guide strategy and agility,” Israch added.

One company that Tipalti has already helped implement finance automation is Tier Mobility, a shared micro-mobility provider. 

“With rapidly growing finance operations, we were struggling to align a fast-growing team with multiple subsidiaries to a single process and finance was too ingrained in the day-to-day maintenance of AP – it was time-consuming and complex,” Tier head of finance systems Markus Stellmach said.

“We knew we needed to introduce a proper process for purchase requests and approvals that could scale with us and allow finance time to be freed up for more value-creating tasks.”

Tipalti’s new Netherlands headquarters will create 50 new jobs over the next three years.