Fintech company Tipalti, which was previously one of Israel's biggest privately-held technology companies, has been lying off dozens of employee 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 among other things reducing support for small customers, which are not profitable for the company, according to the company's CEO.
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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 CEO Chen 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. 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.
Published by Globes, Israel business news – en.globes.co.il – on July 24, 2025.
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