Fintech unicorn Tipalti acquires Statement for $35-45M to expand real-time cash flow management
The all-Israeli deal, signed amid the war with Iran, aims to enhance Tipalti’s capabilities in the financial management space.
Israeli fintech unicorn Tipalti, which develops a platform for financial automation, is acquiring Israeli startup Statement, a company that specializes in AI-based cash flow management solutions. The acquisition agreement was signed on Tuesday, and significantly enhances Tipalti’s capabilities in the financial management space. While the purchase price was not disclosed, it is estimated to be between $10 million and $20 million.
According to Chen Amit, CEO and co-founder of Tipalti: “This announcement comes during a week of ongoing conflict. Our primary concern remains the safety of our employees and their families. Tipalti, and Israeli high-tech more broadly, continues to demonstrate strength, resilience, and consistency in supporting the Israeli economy. We look forward to calmer days.”
Statement, founded in 2022 by by Idan Vlodinger (CEO) and Shahar Lahav (CTO), operates out of Tel Aviv and New York. The company has developed an AI-powered platform for global cash flow management, designed to help businesses gain real-time clarity and control over their financial operations. Statement's solution automates and streamlines the manual processes of cash position visibility, cash flow forecasts, and cash insights across many types of platforms, such as banks, ERPs, billing tools, and databases.
The startup raised $12 million in Seed funding in October 2023, led by Glilot Capital Partners, with participation from Citi, Mensch Capital Partners, Titan Capital, and Operator Partners.
Prior to founding Statement, Vlodinger was VP of Product & Innovation at Mastercard, led product development at Amazon and was a Consultant at EY. He served as a Special Operations combat officer (rank Major) in the IDF's Special Operations unit for over a decade. Lahav served as a cybersecurity researcher, reverse engineer and team lead for six years in the IDF's Center of Encryption and Information Security. Prior to that, Lahav sold his first startup, an indoor location solution based on BLE chip triangulation, at the age of 19.
Tipalti’s platform provides a comprehensive suite of financial automation tools, including global payments, invoicing, procurement, employee expenses, corporate cards, vendor management, tax compliance, and payment reconciliation. Tipalti partners with major financial institutions such as Citi, Wells Fargo, J.P. Morgan, and Visa, helping more than 5,000 companies worldwide securely pay millions of suppliers in over 200 countries and territories, in 120 currencies.
Since its founding, Tipalti has raised over $550 million. Its most recent major funding came in December 2021, when it secured $270 million in a Series F round at a valuation of $8.3 billion. In 2023, the company also secured a $150 million credit line to further support growth.
