Xelix, a leading agentic AI software company in the Accounts Payable (AP) space, today announced a £120 million Series B funding round led by global software investor Insight Partners, with follow-on investments from Passion Capital and LocalGlobe. This funding will enable Xelix to accelerate platform development and support more organisations in adopting AI for their finance operations.
For too long, companies have relied on manual processes and basic systems to manage Accounts Payable and vendor risk. As a result, enterprises lose millions each year to overpayments, face increased fraud risks and suffer from bloated and burdensome manual workflows. Recognising the need for improved AP controls, Xelix's AI-powered platform seamlessly integrates with existing systems to detect payment errors and fraud, automate supplier statement reconciliations and streamline AP Helpdesk operations. Enterprise organisations such as Astra Zeneca, BAT, GSK and Virgin Atlantic have achieved millions in cost savings with Xelix whilst transforming costly, manual AP processes into automated, intelligent workflows.
This investment follows a period of significant, capital-efficient growth for Xelix - driven by a differentiated product offering, massive customer ROI and a deep commitment to client support and value realisation.
Xelix's growth accelerated in 2024 with the addition of its Helpdesk module – an agentic AP ticketing tool for handling high volumes of supplier queries. Today, the Xelix platform offers three core solutions, processes over 115 million invoices annually and audits more than £580 billion in spend across 130+ global customers.
As part of the investment, Hinkle and Alessandro Luciano, Vice President at Insight Partners, will join the Xelix board of directors.
Solano Partners, a boutique investment bank focused on founder-led software businesses, acted as exclusive financial advisor to Xelix on the transaction. Houlihan Lokey served as financial advisor to Insight Partners.
