Xelix Secures $160 Million to Propel AI in Accounts Payable
Deal News | Jul 21, 2025 | PR Newswire Cision Xelix
Xelix, a prominent AI software firm in the Accounts Payable (AP) field based in London, has secured $160 million in its Series B funding round. This investment round was led by Insight Partners, with contributions from Passion Capital and LocalGlobe. The capital injection aims to facilitate Xelix's ambitions to enhance their platform and extend AI adoption among finance operations globally. The company has been a frontrunner in revolutionizing AP processes through innovative AI solutions that integrate seamlessly with existing systems to handle payment errors, fraud detection, and automation of supplier statement reconciliations. Enterprises such as AstraZeneca and Virgin Atlantic have already reaped significant cost savings by implementing Xelix. Over the past year, Xelix has experienced accelerated growth due to their introduction of the Helpdesk module that caters to high volumes of supplier inquiries. Currently, the platform is utilized to process over 115 million invoices per year, auditing over $750 billion in spending across 130 global clients. Insight Partners' Ryan Hinkle and Alessandro Luciano will join the board of directors, following the investment, which was advised by Solano Partners and Houlihan Lokey.
Sectors
- Financial Technology
- Artificial Intelligence
- Investment and Venture Capital
Geography
- United Kingdom – Xelix is based in London, UK, and much of the company's core development and operations occur here.
- United States – Insight Partners, the lead investor in the funding round, is headquartered in New York City, USA, indicating cross-border investment activity.
Industry
- Financial Technology – Xelix operates in the Financial Technology industry, focusing on automating financial processes like Accounts Payable through advanced AI solutions.
- Artificial Intelligence – Xelix uses AI technologies to enhance accuracy and efficiency in financial operations, making AI a core component of their product offering.
- Investment and Venture Capital – The article discusses a significant Series B funding round in Xelix, involving major venture capital players like Insight Partners and others.
Financials
- $160 million – The total amount raised by Xelix in its Series B funding round.
- $750 billion – The amount of spend audited annually by the Xelix platform.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Xelix | Target Company | Company | A leading AI software company focused on Accounts Payable, aiming to transform financial processes through technology. |
| Insight Partners | Lead Investor | Company | A global software investor known for investing in high-growth technology companies, leading the Series B funding round for Xelix. |
| Passion Capital | Investor | Company | A venture capital firm participating in Xelix's Series B funding round. |
| LocalGlobe | Investor | Company | Venture capital firm contributing to the Series B funding for Xelix. |
| Solano Partners | Financial Advisor | Company | Acted as the exclusive financial advisor to Xelix during the transaction. |
| Houlihan Lokey | Financial Advisor | Company | Served as a financial advisor to Insight Partners for the investment. |
| Paul Roiter | CEO | Person | CEO of Xelix, leading the company's strategic direction and growth. |
| Ryan Hinkle | Managing Director | Person | Managing Director at Insight Partners, involved in the Xelix investment and now joining their board. |
| Alessandro Luciano | Vice President | Person | Vice President at Insight Partners, joining the board of Xelix after the investment. |