Xelix Raises $5M in Series A Funding

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Xelixa London, UK-based accounts payable solution provider completed a $5 million Series A funding round.

The round was led by Fintop Capital, with participation from existing investors Passion Capital and Localglobe.

The funding will be used to bring new products to market and to expand the team to accelerate growth.

Xelix provides an Accounts Payable (AP) solution that allows businesses to automate manual, time-consuming processes, while realizing huge savings on the bottom line.

Launched in 2018 by university friends Paul Roiter (CEO) and Phillip Watts (CPO), Xelix is ​​a SaaS company providing automation solutions for the CFO’s office. The company has developed an accounts payable system Control center – a machine learning-based application whose benefits include preventing incorrect payments and fraud, and automating key AP processes improving team productivity. The solution, which aggregates data from different systems, providing a consolidated view of APs across an enterprise, includes:

  • Xelix Protect offers a machine-learning payment audit to identify high-risk transactions before payroll is processed.
  • Reconciliation of Xelix statements provides an automated workflow to ensure accounting accuracy and compliance.
  • Xelix Insight is a self-service business intelligence tool for quickly gaining insights from supplier data.

The customer base includes some of the largest companies in the world, with key sectors such as manufacturing, retail and government.

EndSME

04/07/2022






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