Finance automation platform Tipalti said Tuesday it has acquired Statement, an AI-native treasury automation solution.
Financial terms of the deal weren’t disclosed. Foster City, CA-based Tipalti said the deal was signed on June 16 and is expected to close shortly.
“The acquisition of Statement is another important moment for Tipalti and our customers,” Tipalti CEO and co-founder Chen Amit wrote in a blog post about the deal. “Statement’s powerful treasury capabilities address some of the most time-consuming and manual pain points in finance today—cash visibility, cash reconciliation, and cash forecasting across bank accounts, entities, and currencies.”
Founded in 2022, New York City-based Statement has reimagined legacy treasury operations for modern businesses and brought advanced functionality to mid-market customers, Amit wrote.
“With Statement, we have now added real-time, AI-driven cash intelligence capabilities, deepening our treasury offerings. The Statement team’s expertise complements our roots in making finance operations painless, and their AI-native, product-led, and agile approach is aligned with our DNA,” he continued. “Leveraging advanced AI and machine learning, Statement automates and streamlines the previously manual and fragmented processes of aggregating cash positions, generating forecasts, and extracting insights across banks, ERPs, billing tools, and databases. For instance, Statement makes finance teams more efficient through integration with leading ERP solutions and over 3,000 banks.”
With more efficient workflows and timely cash data, finance leaders can optimize working capital, improve liquidity, and ensure forecasts are accurate, resulting in better overall control of cash flow and more informed decision-making, Tipalti said in a media release.
For Tipalti customers, Statement Treasury is available immediately as a standalone solution. “In the coming months, we will fully integrate Statement Treasury into Tipalti’s platform,” Amit wrote.
For Statement customers, nothing changes, he added. “Statement will continue delivering the same high level of service and support, with no disruption to access or functionality. Statement customers will benefit from access to Tipalti’s global reach, extensive scale, extensive resources, and industry-leading financial technology leadership,” Amit wrote.
Idan Vlodinger, CEO and co-founder of Statement, said the two companies “have a shared vision for transforming finance operations so our customers can focus on their business.”
“Innovating in treasury with AI-driven automation has been our sole focus since day one,” he said in a statement. “Our AI-native solution complements the Tipalti suite with capabilities to help businesses manage cash with ease. With Tipalti’s global scale, we will be able to help more customers streamline complex cash management processes, optimize liquidity, and forecast cash flow with more confidence.”
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