U.S. fintech Tipalti opening Vancouver office with plans to hire 50 workers

U.S. fintech Tipalti Inc. is launching an office in Vancouver February 1, with plans to hire 50 workers by the end of the year | Rob Kruyt

What happened: Tipalti set to open new Vancouver office next month with plans to hire dozens of workers

Why it matters: The company is the latest among a growing number of American tech firms launching in B.C.

Talent continues to be in high demand in Vancouver with another American tech company entering the city to hire workers.

Tipalti Inc. plans to build up a roster of more than 50 employees for a new office set to launch February 1 in the city’s downtown.

CEO Chen Amit tells Business in Vancouver his company hired a consulting firm that evaluated 940 cities to find the best fit for Tipalti.

“It [Vancouver] actually came out on top in terms of all the metrics we cared about,” he said, citing factors such as availability of talent and a location within a three hours’ flight of the company’s Silicon Valley headquarters.

The financial technology firm specializes in accounts payable products, while its website is advertising jobs primarily for sales roles.

“Beyond sales, we will hire [for] operations,” Amit said, adding engineering will remain the domain of Tipalti’s Israel office for now.

“Then we’ll hire additional people around marketing [and] in compliance.”

Last year Tipalti raised US$76 million from investors in a funding round led by Zeev Ventures.

The company currently employs 255 workers between its California and Israel offices, up from 135 workers a year ago.

Tipalti plans to hire another 200 workers by the end of the year, including 50 in Vancouver.

Chief revenue officer Sam Barakat, who originally hails from B.C., is set to lead the new West Coast centre.

The initial office will be based in a downtown co-working space, similar to WeWork, before moving into its own dedicated location.

Tipalti is among a growing number of American tech firms that have been moving into the province the past few months.

Seattle-based NetMotion Software Inc. opened an office in Victoria in October, while Grammarly Inc. revealed plans a month earlier to open an office in downtown Vancouver.