Finance automation platform Tipalti has launched a solution localised for the European market – and will focus on expanding into Germany and the Nordics
Finance automation platform Tipalti has launched a fully localised solution for the European market, which will allow the fintech to offer more payment solutions and capabilities to clients across Europe.
The new product is accompanied by an EMI licence recently granted by the central bank of the Netherlands, De Nederlandsche Bank (DNB). California-based Tipalti, which was valued at more than US$8bn at its latest funding round, will hope to support European businesses in overcoming common efficiencies, reducing friction in their finance processes, and increasing visibility over their costs.
Indeed, the company estimates that manual finance processes swallow up a third (33%) of finance teams’ time. Tipalti’s renewed focus on the European market comes just two years after it launched a UK base and one year since launching in Amsterdam. It currently has over 100 customers in Europe, supported by a growing workforce of more than 100 employees.
The focus will now turn onto new European geographies – starting with Germany and the Nordics – with the ambition for Europe to bring in at least 20% of Tipalti’s revenue by the end of 2024.