Xelix raises 160 million US dollars in Series B

The British FinTech Xelix, provider of an AI-based platform for Accounts Payable (AP), has closed a Series B financing round of 160 million US dollars. The round was led by software investor Insight Partners, with participation from existing investors Passion Capital and LocalGlobe.

The aim of the funding is to accelerate technological advancement and help more companies transition to intelligent, automated AP processes.

AI against overpayments and fraud

Xelix addresses a widespread problem in large companies: manual processes and outdated systems in accounting lead to overpayments, fraud risks and high operating costs. The company's platform integrates with existing ERP systems and detects payment errors and fraud attempts, automates supplier account reconciliation and provides a helpdesk module to handle supplier queries.

We want to develop Accounts Payable from a manual back office to a strategic control unit

Paul Roiter, CEO Xelix

According to the company, customers such as AstraZeneca, GSK, BAT and Virgin Atlantic have saved several million US dollars by using Xelix.

Agentic AI for modern finance teams

Xelix positions itself as a provider of so-called agentic AI systems that act autonomously and make decisions in the interests of the user. Since 2024, this has included an intelligent helpdesk tool that processes thousands of inquiries automatically.

Xelix provides the missing control layer that large finance departments need - comprehensive, system-independent and AI-based.

Ryan Hinkle, Insight Partners

The platform now processes over 115 million invoices annually, checking a payment volume of more than 750 billion US dollars for over 130 global corporate customers. CEO Paul Roiter intends to use the fresh capital to expand product development and strengthen the company's market presence in Europe and North America. Ryan Hinkle (Insight Partners) and Alessandro Luciano join the board.