Manchester-based fintech firm AccessPay has secured £9 million in a funding round led by venture capital investment company Beringea with participation from True Ventures and Route 66.
The company will widen its sales, marketing and technical team with the fresh capital. Further, the platform is looking forward to developing its software for enhanced user experience.
Marc Shirman, investment director and head of Beringea’s new Northern office said, “Manchester has an exceptional and rapidly growing fintech sector that we want to support. Great companies like AccessPay contribute immensely to the ambition of the North to be a global tech hub. Beringea will seek to provide the capital, expertise and transatlantic network to support the North’s entrepreneurs as they scale to become international success stories.”
Efficient capital management
AccessPay facilitates enterprises with cloud-based secure cash management solutions syncing back-end systems like ERP, TMS and other. Further, it funnels smooth domestic as well as international payments through BACS, FPS, CHAPS and SWIFT.
AccessPay enables real-time enhanced capital optimisation integrating back-office systems of organisations with their banks and all financial liaisons.
AccessPay – one of the fastest growing fintech in the UK outside London
With the latest funding, AccessPay now owns total capital over £13 million and is considered to be one the escalating fintech firm in the UK. Founded in 2012, the startup maintains 500+ corporate clients in the UK, including Barclays, the AA, and ITV.
With employee strength of 50, AccessPay presently carries more than 40 million transactions per year.
CEO of AccessPay, Anish Kapoor emphasised, “The world of banking has changed and continues to do so at pace. The choice of banking and financial services providers available to finance and treasury teams, especially those looking to transform their operations, are greater than ever before”.
Further, he added, “The problem we continue to see are these services operating in total isolation to one another, which often means the corporate is faced with exposure to security, greater risk and complexity in day-to-day operations. Connecting these services through our platform, removes these issues and enables the change finance and treasury teams are looking for.”
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