Xelix, a London, UK-based Accounts Payable solution provider, completed a $5m 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 for team expansion to accelerate growth.
Xelix provides an Accounts Payable (AP) solution that enables companies to automate manual and time-consuming processes, whilst delivering huge savings to the bottom line.
Launched in 2018 by University friends Paul Roiter (CEO) and Phillip Watts (CPO), Xelix is an enterprise SaaS company providing automation solutions for the CFO office. The company has developed an Accounts Payable Control Centre – a machine-learning powered application whose benefits include the prevention of incorrect payments and fraud, and automation of key AP processes enhancing team productivity. The solution, which aggregates data from different systems, providing a consolidated view of AP across a business, includes:
- Xelix Protect offers a machine-learning payment audit to identify high-risk transactions prior to the pay run.
- Xelix Statement Reconciliation provides an automated workflow to ensure accounting accuracy and compliance.
- Xelix Insight is a self-service business intelligence tool enabling rapid insights from payables data.
The client base includes some of the biggest companies in the world, with key sectors including manufacturing, retail and government.
FinSMEs
04/07/2022