London global fintech valued at £6.3bn following £204m Series F funding

London based global financial technology company Tipalti announced it has raised $270m (approximately £204m) in Series F funding, raising its value to $8.3bn (approximately £6.3bn).

This round brings Tipalti’s total funding raised to date to just over $550m (approximately £416m) and places it “among the most valuable private fintech companies in the world”.

Tipalti, which announced its expansion into Europe in October with the opening of a London office, will use the funding to accelerate its product roadmap and customer operations, as well as expand globally to transform global financial operations for high-velocity customers.

Led by G Squared, the Series F round also includes investments from new investors Marshall Wace and funds and accounts managed by Counterpoint Global (Morgan Stanley), in addition to current investors Zeev Ventures, Durable Capital Partners, 01 Advisors, and others.

Chen Amit, co-founder and CEO of Tipalti said: “This latest investment will enable Tipalti to add more to our product lines and capabilities in the next 18 months than we have over the past 10 years combined.

“We are on a journey to transform financial operations, relieve finance leaders from those mundane, cumbersome, risky tasks, and elevate the financial capabilities for high velocity organisations to rival those of the Fortune 5000.”

Larry Aschebrook, founder and managing partner, G Squared added: “We believe Tipalti is reshaping how businesses manage their financial operations, and their growth and industry-leading retention rates are evidence that they are on a mission to solve important challenges for their customers.

“The company’s differentiated solutions, combined with their strategic vision and ability to execute, position Tipalti as a true disruptor in the global payables landscape. We see a huge opportunity in the target market that is largely underserved currently and look forward to working together with Tipalti.”