Companies

Tipalti revenue soars 83% in H1

Annualized transactions at the group also jumped to above $23m, a 115% increase when compared to the first half of FY20

Tipalti, a global payables automation company, has seen its revenues soar 83% year-on-year during H1 FY21.

Annualized transactions at the group also jumped to above $23m, a 115% increase when compared to the first half of FY20.

Some 191 new staff members were hired during the period, with an additional 200 employees intended to be added throughout H2 FY21.

Among the new hires is Paco Suro as the new general manager of the firm’s mass pay business.

Previously leader of Shopify’s money business and head of payments and financial operations at Twitter, Suro provides the role with experience in leadership, digital economy, global payments, and finance and treasure.

Chen Amit, co-founder and CEO at Tipalti, said: “Our continued growth across the entire business is a clear indicator that high-velocity businesses are prioritizing the digitization of their finance operations, and we are proud to support our customers by automating the entire payables cycle, from procurement through to payment.

“With Tipalti’s leadership position in the mass pay space, we are very excited to have Paco Suro join our team to help accelerate our innovation within this critical segment.”

During the half year, Tipalti also surpassed 1,500 active customers, and established industry partners with Donnelley Financial Solutions (DFIN) and Integrated Data Technology (IDT).

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