Xelix, a leading agentic AI software company in the Accounts Payable (AP) space, announced a $160 million Series B funding round led by Insight Partners, with follow-on investments from Passion Capital and LocalGlobe. This funding will accelerate platform development and support more organizations in adopting AI for finance operations.
Companies have relied on manual processes and basic systems to manage Accounts Payable and vendor risk, losing millions annually to overpayments, increased fraud risks, and burdensome workflows. And Xelix’s AI platform integrates with existing systems to detect payment errors and fraud, automate reconciliations, and streamline AP Helpdesk operations. Clients like Astra Zeneca, BAT, GSK, and Virgin Atlantic have saved millions and transformed manual AP into automated, intelligent workflows.
This funding follows significant, capital-efficient growth driven by product differentiation, customer ROI, and strong client support. In 2024, Xelix added its Helpdesk module, an agentic AP ticketing tool for supplier queries. The platform now offers three core solutions, processes over 115 million invoices annually, and audits over $750 billion in spend across 130+ global customers.
New board members: Ryan Hinkle and Alessandro Luciano from Insight Partners will join Xelix’s board.
Advisors: Solano Partners advised Xelix, while Houlihan Lokey advised Insight Partners.
KEY QUOTES:
“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.”
Paul Roiter, CEO of Xelix
“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.”
Ryan Hinkle, Managing Director at Insight Partners
