London-based Xelix, an agentic AI software company specialising in Accounts Payable (AP), has successfully completed a Series B funding round, securing £126 million. The round was led by New York-based software investor Insight Partners, with continued investment from existing backers Passion Capital and LocalGlobe.
The substantial funding will enableXelix to accelerate its platform development and assist more organisations in integrating AI into their finance operations. As part of the investment, Mr Hinkle and Alessandro Luciano, Vice President at Insight Partners, will join the Xelix board of directors.
Paul Roiter, CEO of Xelix, stated: “This funding marks a major milestone in our journey. It allows us to accelerate product innovation, expand our market presence, and reinforce our position as a category leader – enabling more finance teams to evolve Accounts Payable from a manual back-office function into a strategic, data-driven business partner.”
Founded in 2018, Xelix has pioneered the Accounts Payable audit and controls sector. The company’s AI-powered platform integrates with existing systems to identify payment errors, automate supplier reconciliations, and streamline AP Helpdesk operations. This innovative approach helps finance teams reduce risk, unlock cost savings, and enhance efficiency across Accounts Payable.
Enterprise clients such as AstraZeneca, British American Tobacco (BAT), GSK, and Virgin Atlantic have reportedly saved millions by transforming their manual AP processes into efficient, automated workflows using Xelix’s solutions. The company’s growth was further boosted in 2024 with the introduction of its Helpdesk module, an agentic AP ticketing tool designed to manage high volumes of supplier queries.
Currently, the Xelix platform offers three core solutions, processes over 115 million invoices annually, and audits more than £591 billion in spend across over 130 global customers.
Image source: Xelix
