Fintech AccessPay Bags €22.1M To Expand Bank Integration

Manchester-based Fintech AccessPay Closes €22.1 Million To Expand Bank Integration Solution To The US Market

Fintech AccessPay

Fintech AccessPay, a leading integration provider in the banking space, has announced that it has successfully closed a €22.1 million funding round with a combination of equity and debt. The investment round was led by ‘True Ventures’, the Silicon Valley-based venture capital firm, with Praetura Ventures, Mastercard, NatWest, Beringea, and Route 66 Ventures participating from Manchester.

As AccessPay focuses on profitable growth, the latest capital will be instrumental in driving its ambition of bolstering its commitment to increasing revenues in a sustainable manner. This will see the subject company dedicate a significant portion of the funding round to AccessPay’s Research and Development (R&D) work, ensuring continued value creation for its enterprise customers. It’s also worth noting that the company intends to further develop its capabilities in fraud & error prevention, bank statement data, and reconciliation automation coupled with ISO 20022 data transformation, as well as to continue AccessPay’s rapid expansion in the US.

“We are thrilled to announce the close of our latest funding round. For us, it reflects investor confidence in our vision and potential for long-term growth. I’m exceptionally proud of our success since the company was founded in 2012, especially considering the macroenvironmental challenges we have weathered over the years. This funding will play a crucial role for the latest stage of our evolution”, ‘Anish Kapoor’, CEO at AccessPay said.

To scale up in its efforts, fintech AccessPay team has over the years made several senior hires, and expanded to new geographies beyond the UK market, which include mainland Europe and the United States via partnerships with Sage and Finastra. However, the latest round of funding will provide AccessPay with the financial resources to maximize these strategic growth opportunities, not to exclude the potential acquisitions to sustainably expand its market presence and offerings.

“AccessPay simplifies corporate and institutional banking processes by streaming all bank and finance apps into a shared interface. This astute merging of automation, fintech, and tooling that improves processes for a massive market is what drew us to invest in this team since its seed investment, and we continue to feel excitement for the company’s next phase of growth and expansion”, ‘Phil Black’, co-founder of True Ventures, commented.

‘Pete Carway’, investment director at Praetura Ventures, added: “We’ve admired the business that Anish and his team have been building for years. As an investor who’s proud to back the best in the North, we are excited to support AccessPay’s global expansion efforts. Beyond the capital investment, our operational partners – senior figures who have worked at Apple, ANS, Dr Marten’s, AO JD Sports and OSTC –will be lending extensive experience, advice and support to the team as we aim to back businesses with more than money. This investment underscores our commitment to backing Northern break-out successes and reiterates our desire to build strong relationships over time with the businesses we invest in. We look forward to partnering with Anish and the team on this exciting and innovative growth journey”.

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