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Xelix raises $5M in Series A investment round

Tuesday 5th June, 2022

Xelix has announce that it 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.

“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.”

Xelix 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.

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