By Meytal Vaizberg
Globes, Tel Aviv, Israel
(TNS)
July 24 — Fintech company Tipalti, which was previously one of Israel’s biggest privately-held technology companies, has been laying off dozens of employees worldwide over the past few days, including 40 in Israel, according to sources familiar with the matter.
The layoffs are part of a comprehensive streamlining process that includes a reorganization of the company’s sales teams while focusing on advanced sales functions for the mid-market sector and reducing its exposure to small customers, according to the company’s CEO Chen Amit.
An internal memorandum has been sent to employees, explaining that among the changes, work groups will be redefined, and the company “will be forced to say goodbye to a number of people” as part of the process.
Tipalti, which was founded in 2010 by Amit and chairman Oren Zeev, has developed a platform for automating payments, supplier management, and purchasing for medium-sized enterprises.
At its peak in 2021, the company raised $270 million at a valuation of $8.3 billion, which at the time was four times the valuation of the previous round, making it one of the largest private fintech companies in the world and the third most valuable in Israel after Rapyd and Snyk.
- Related article: Tipalti Sees 100%+ Growth in Digital Payments in 2021
That same year, the company reported revenue of about $100 million and over 2,000 customers, processing transactions worth tens of billions of dollars annually through Tipalti’s platform.
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© 2025 the Globes (Tel Aviv, Israel). Visit www.globes.co.il. Distributed by Tribune Content Agency LLC.
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Tags: layoffs, Technology, Tipalti
