Xelix completes Series A investment round, raising $5M

We are excited to announce that Xelix has successfully completed the Series A funding round, raising $5M. The investment was led by FINTOP Capital, with participation from our existing investors Passion Capital and LocalGlobe.

We are proud to support our amazing customers, such as Wilko, Euro Car Parts and McBride, in automating manual and time-consuming processes, whilst delivering huge savings to their bottom line. The capital raised paves the way for continued innovation in our product offering.

“Outside of basic invoice processing, the opportunity for ML-driven automation and process improvement within AP and the wider CFO office is huge,” said Paul Roiter, Xelix CEO & Co-Founder. “We’re excited to be working with investors that value our efficient growth and the massive market potential for our solutions. This fundraiser will allow us to execute on our ambitious product roadmap and further scale our go-to-market teams”.

“Xelix is already working with some of the largest global companies, with crystal clear use cases and impressive ROI,” said John Philpott, General Partner at FINTOP Capital. “The opportunity in this space is enormous and we are excited to partner with Paul, Phil and the team to build a world-class company.”

Our product suite currently consists of three modules that re-design core Accounts Payable processes. These include Xelix Protect – a Machine-Learning payment audit to identify high-risk transactions prior to the pay run, Xelix Supplier Statement Reconciliation – an automated workflow to ensure accounting accuracy and compliance, and Xelix Insight – a self-service business intelligence tool enabling rapid insights from payables data.

We are hiring across the company and have lots of open roles. Check out our openings here.

To find out if your company could benefit from using Xelix’s AI-powered platform, book a demo with us today to see how much time and cost you can save.

For press enquiries, please contact samantha.tanner@xelix.com.