AccessPay secures £18.9m led by True Ventures to fund product development and US expansion
The Manchester fintech raised £18.9m in a round backed by True Ventures, Praetura Ventures, NatWest, Mastercard, Route 66 Ventures, and Beringea.
AccessPay provides bank integration and payment automation services to help enterprise clients transform their finance operations. The firm connects back office finance systems to banks to deliver clean payment and bank statement data.
Manchester-based bank integration provider AccessPay has secured £18.9m in a strategic funding round combining equity and debt. The investment was led by Silicon Valley venture capital firm True Ventures, with participation from regional backer Praetura Ventures, NatWest, Mastercard, Route 66 Ventures, and Beringea.
The fresh capital will be directed towards research and development, specifically enhancing reconciliation automation, fraud prevention, and ISO 20022 data transformation. Part of the funds will also support the company as it expands its operations further into the United States market.
Founded in 2012, AccessPay has previously scaled its geographic reach through partnerships with Sage and Finastra while making several senior appointments. The latest injection of capital aims to sustain profitable growth and support potential acquisitions.
From the founder
"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
Investor perspective
"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, True Ventures
Use of funds
- 01Fund research and development
- 02Expand into international markets
- 03Fund acquisitions
