Regnology, a German Regtech company, is set to acquire the Financial Regulatory Reporting (FRR) unit from Wolters Kluwer.
Xelix, a London-based accounts payable (AP) intelligence platform, has secured a US$160 million Series B funding round, led by global software investor Insight Partners, with participation from existing investors Passion Capital and LocalGlobe. This investment marks a significant milestone in Xelix's trajectory, reflecting capital-efficient growth and positioning the company for further innovation and global expansion.
Founded in 2018, Xelix's goal has been to address long-standing inefficiencies in accounts payable processes. The company's platform integrates AI with existing ERP and finance systems to automate AP processes such as fraud detection, payment error identification, supplier statement reconciliation, and AP Helpdesk ticketing.
The funding will primarily be used to accelerate product development, focusing on advancing its agentic AI-powered AP platform. Xelix plans to double down on product development, expanding its automation capabilities and further developing agentic AI tools for finance teams. Ryan Hinkle and Alessandro Luciano of Insight Partners will join Xelix’s board as part of this round.
Xelix's customer base consists of over 130 organizations, including notable names like AstraZeneca, BAT, GSK, and Virgin Atlantic. These clients have reported significant cost savings through automation and process improvement. The platform audits over 115 million invoices and more than US$750 billion in spend each year.
The investment was attributed to Xelix's differentiated product offering, measurable customer ROI, and strong focus on customer success. Xelix's growth to date has been influenced by feedback and collaboration with its customers and partners.
Paul Roiter, CEO of Xelix, stated that the funding will be used to accelerate product innovation, expand market presence, and reinforce Xelix’s position as a category leader. The company aims to expand its market presence globally, especially accelerating expansion in the U.S. market.
Many organizations continue to rely on manual workflows and outdated systems in accounts payable, leading to overpayments, increased fraud risks, and operational bottlenecks. Xelix's platform currently includes three core modules: Transactions, Statements, and Helpdesk. With this investment, Xelix plans to scale its operations globally to support increasing demand.
The funding follows a period of significant and capital-efficient growth for Xelix. This investment reinforces Xelix's leadership in AP automation technology and sets the stage for the company to continue driving innovation in the accounts payable sector.
[1] Xelix Press Release: Xelix Secures $160 Million Series B Funding Round Led by Insight Partners [2] TechCrunch: Xelix Raises $160 Million in Series B Funding for Its Accounts Payable Automation Platform [3] Finextra: Xelix Raises $160 Million to Accelerate Global Expansion and Product Innovation [4] Business Insider: Xelix Secures $160 Million in Series B Funding for AP Automation Platform
- The funding secured by Xelix, a London-based fintech company, will be used to accelerate product innovation, expand market presence, and reinforce its position as a category leader in the accounts payable industry.
- Xelix's business strategy includes doubling down on product development, advancing its agentic AI-powered AP platform, and expanding automation capabilities to reduce operational bottlenecks and fraud risks in the finance sector.
- With significant cost savings reported by its over 130 clients such as AstraZeneca, BAT, GSK, and Virgin Atlantic, Xelix's financing round underscores the value of technology investment and innovation in the finance and business sectors.
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