Leading bank integration provider AccessPay announced that it had closed a $24 million strategic funding round, which was a combination of equity and debt. True Ventures led the round, which included participation from Praetura Ventures, NatWest, Mastercard, Route 66 Ventures, and Beringea.
This latest funding round will be essential in driving AccessPay’s focus on profitable growth while supporting its commitment to increasing revenues. A major portion of the funding round will be utilized for AccessPay’s Research and Development (R&D) work, ensuring continued value creation for its enterprise customers. And the company plans to advance its capabilities in fraud and error prevention, bank statement data and reconciliation automation, and ISO20022 data transformation, and continue AccessPay’s rapid expansion in the U.S.
KEY QUOTES:
“AccessPay simplifies corporate and institutional banking processes by streamlining all bank and finance apps into a shared interface. This astute merging of automation, fintech, and tooling that improves processes for a massive market is what drew us to invest in this team since its seed investment, and we continue to feel excitement for the company’s next phase of growth and expansion.”
– Phil Black, co-founder of True Ventures
“We’ve admired the business that Anish and his team have been building for years. As an investor who’s proud to back the best in the North, we are excited to support AccessPay’s global expansion efforts. Beyond the capital investment, our operational partners – senior figures who have worked at Apple, ANS, Dr Marten’s, AO, JD Sports and OSTC – will be lending extensive experience, advice and support to the team as we aim to back businesses with more than money.”
“This investment underscores our commitment to backing Northern break-out successes and reiterates our desire to build strong relationships over time with the businesses we invest in. We look forward to partnering with Anish and the team on this exciting and innovative growth journey.”
– Pete Carway, investment director at Praetura Ventures
“We are thrilled to announce the close of our latest funding round. For us, it reflects investor confidence in our vision and potential for long-term growth. I’m exceptionally proud of our success since the company was founded in 2012, especially considering the macroenvironmental challenges we have weathered over the years. This funding will play a crucial role for the latest stage of our evolution.”
– Anish Kapoor, CEO at AccessPay
