Tipalti raises $150 million to expand global AP solution

Tipalti, whose platform supports cross-border B2B supplier payments, has raised $150 million in its latest funding round, bringing the total it’s raised from outside investors to $280 million.

Durable Capital Partners led the funding round with additional investments from Greenoaks Capital and 01 Advisors, according to a Tuesday press release.

San Mateo, Calif.-based Tipalti plans to use the influx of funds to expand its product development and global reach, the press release said.

Tipalti, founded in 2010, recently opened its third office in Vancouver, Canada and expanded its workforce to 350.

“This new round of funding will allow us to further accelerate our innovation edge in the payables automation space and expands our solution to the larger market,” said Chen Amit, Tipalti’s co-founder and CEO, in the release.