London-based invoice intelligence platform Xelix completes $5m Series A funding to accelerate growth
Invoice intelligence platform Xelix announced it has successfully completed the Series A funding round, raising $5 million. The investment was led by FINTOP Capital, with participation from our existing investors Passion Capital and LocalGlobe.
Xelix supports 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 product offering.
Paul Roiter, CEO & Co-Founder, Xelix: “Outside of basic invoice processing, the opportunity for ML-driven automation and process improvement within AP and the wider CFO office is huge. 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”.
John Philpott, General Partner, FINTOP Capital: “Xelix is already working with some of the largest global companies, with crystal clear use cases and impressive ROI. 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.”
Xelix's 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.