£7.3bn fintech unicorn expands into mainland Europe with new office opening

Tipalti, a London based automated global payables solution, has announced further expansion into Europe, with the opening of a Benelux office in Amsterdam.

Following Tipalti’s successful UK launch in October last year, the unicorn, valued at $8.3bn (approx. £7.3bn), now has over 100 UK based customers. Adding a division in mainland Europe will allow Tipalti to establish itself as a key player in the region, and pave the way for further expansion internationally.

Tipalti helps simplify complex, manual payables processes, the “most time-consuming function burdening finance teams”, whilst giving business increased controls and visibility to help in the current climate. The fintech’s “immediate success” in the UK highlights the level of demand for Tipalti’s solution across Europe.

According to Tipalti’s new research, 45 per cent of Benelux finance teams’ time is spent on manual processes in a typical week. It’s therefore little surprise that finance decision makers in the region cited their top two priorities over the next year as driving efficiency across the business, and reducing time spent on manual processing (both 39 per cent).

With businesses across Europe facing ongoing economic uncertainty, Tipalti’s solution aims to play a “critical role” at a time when they are looking to address efficiency issues and control costs amid new market conditions.

Tipalti is helping customers across all verticals implement finance automation, including Tier Mobility, a shared micro-mobility provider on a mission to “change mobility for good”. Tier has seen significant growth, surpassing 500 employees in under three years.

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

“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.

“Building on our momentum in the UK and the US, we know Tipalti’s technology has a real impact on businesses who have a desire to 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.”

Tipalti’s team, centrally based in London, has also grown substantially since launch. They now employ almost 100 people across engineering, sales, customer success, compliance, and more. The new Netherland’s headquarters will create 50 jobs in the next three years, further supercharging Tipalti’s growth.

By Matthew Neville – Correspondent, Bdaily

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