Tipalti Secures $150 Million in Growth Financing from JPMorgan Chase Bank and Hercules Capital
FOSTER CITY, Calif., May 15, 2023 /PRNewswire/ -- Tipalti, the leading global payables automation platform, announced today it has raised $150 million in incremental growth financing from JPMorgan Chase Bank and Hercules Capital, Inc. (NYSE: HTGC). Coming on the heels of a $270 million Series F in 2021 that brought the company's total funding to over $550 million, this latest raise will enable Tipalti to further invest in product innovation and supporting its customers.
- "Hercules Capital prides itself on being the partner of choice for innovative entrepreneurs and companies and Tipalti not only fits this mold, it breaks it," said Catherine Jhung, Senior Managing Director at Hercules Capital.
- "Tipalti is seeing tremendous growth as more and more companies adopt our platform to automate their finance operations," said Sarah Spoja, CFO of Tipalti.
- This transaction also extends the relationship between JPMorgan Chase Bank and Tipalti.
- Since 2016, JPMorgan Chase Bank has served as one of the three major global banks Tipalti uses to route billions of dollars worth of supplier payments each month on behalf of its customers.