Accounts Payable AI firm Xelix raises $160m Series B

July 21, 2025

Xelix, a London-based FinTech firm specialising in agentic AI for Accounts Payable (AP), has raised $160m in a Series B funding round.

The round was led by global software investor Insight Partners, with participation from returning backers Passion Capital and LocalGlobe. The capital injection will support Xelix’s platform development and expansion efforts.

Founded in 2018, Xelix provides AI-powered tools that help enterprises detect payment errors, prevent fraud, automate supplier reconciliations and streamline AP Helpdesk operations. Its system integrates with existing ERP and finance tools, offering enhanced control over vendor risk and AP inefficiencies.

The new funding will be used to accelerate product innovation and scale the company’s market reach. The firm also plans to expand its capabilities in transforming manual back-office functions into automated, strategic workflows powered by AI.

Xelix has reported significant growth over the past year, especially following the launch of its Helpdesk module – an agentic ticketing system for managing supplier queries. Today, Xelix supports over 130 global customers including AstraZeneca, BAT, GSK, and Virgin Atlantic. Its platform processes more than 115 million invoices and audits over $750bn in spend annually.

As part of the deal, Insight Partners managing director Ryan Hinkle and vice president Alessandro Luciano will join Xelix’s board of directors.

Xelix CEO Paul Roiter said, “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.”

Insight Partners managing director Ryan Hinkle said, “Enterprise finance teams have long lacked an audit and control solution that is intelligent, proactive, system-agnostic, and efficient enough to support their high-volume workflows.

“While spot checks are helpful, anything less than a full audit of every invoice leaves potential for fraud, mistakes, or abuse. Xelix uses AI to deliver a comprehensive control layer – helping enterprises eliminate overpayments and fraud risk while driving major efficiencies by automating day to day AP tasks. We are excited to back Paul, Phil, and the Xelix team in this next chapter of growth.”