Payments service provider APEXX Global has reportedly closed an $8m Series A round which brings the company’s total equity raised to $12m.
Previous APEXX backers Forward Partners, MMC Ventures and Alliance Ventures all came back to increase their investment in the FinTech, according to a report from Tech EU.
Having closed the round, the company will look to increase the development of its technology, enhance the customer experience and expand the size of its team.
APEXX is a UK-based payment software developer which connects suppliers, banks and payment methods into a single API. Its aims is to streamline the payments process, as well as increase acceptance rates, reduce costs and help clients access new markets.
The solution improves cross-border payment acceptance and negotiates rates with acquirers and PSPs to help a client get the best pricing on every product.
Its tools also include AI-driven fraud management, reconciliation tools, direct currency conversion, multi-currency pricing and local payout products.
The company previously closed a $4m seed round back in 2017 from MMC Ventures, Forward Partners and Alliance Ventures.
MMC Ventures recently contributed to the $8m funding round of Copper.io, a custodian for digital assets. The FinTech designs infrastructure which enables institutions to acquire, store and trade digital assets in a compliant manner.
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