Knowing Nothing About Fintech Helped Me Build My Company, Says CEO of Payments Startup Tipalti

When I started out, I knew nothing about fintech, said Chen Amit, CEO and Co-founder of Israeli payment automation startup Tipalti. “I had no pre-existing knowledge, and that helped me build the company,” Mr. Amit said, speaking on Tuesday at the FinTech 2018 conference held in Tel Aviv by Calcalist, Bank Leumi, and KPMG.

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Founded in 2010, Tipalti operates a cloud-based payables automation platform. Processing over $4 billion in transactions annually, Tipalti counts Amazon, GoDaddy, and Twitter among its clients. In February, the company completed a $30 million series C investment round which brought its total funding to over $50 million.

The company is based in San Mateo, California, and the central Israel coastal town of Herzliya.

Mr. Amit said that Tipalti focuses on mid-sized companies, or on divisions within large companies that “act” like mid-sized companies. “What’s interesting in these companies is that they have the same needs that large-size companies have,” he said. “But accounts payable for mid-size companies is just about the last area to receive attention and the least likely area for investment in innovation.”