Xelix, a leader in agentic AI software for Accounts Payable (AP), has raised $160 million in a Series B funding round to advance its AI-powered platform. Led by Insight Partners, with contributions from Passion Capital and LocalGlobe, the investment will drive platform development and global expansion, transforming AP into a strategic, data-driven function for enterprises.
Xelix’s AI platform integrates seamlessly with existing ERP systems to address inefficiencies in Accounts Payable. By automating payment error detection, fraud prevention, supplier statement reconciliations, and AP Helpdesk operations, it saves enterprises millions annually. Major organizations like Astra Zeneca, BAT, GSK, and Virgin Atlantic have transformed manual AP processes into efficient, intelligent workflows, achieving significant cost savings.
The $160 million Series B, led by Insight Partners, follows Xelix’s capital-efficient growth driven by strong customer ROI and a commitment to client support. “This funding marks a major milestone in our journey,” said Paul Roiter, CEO of Xelix. “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.”
Xelix’s platform, processing over 115 million invoices and auditing $750 billion in spend annually across 130+ global customers, offers three core solutions: payment audits, statement reconciliations, and a 2024-launched Helpdesk module for supplier queries. “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,” said Ryan Hinkle, Managing Director at Insight Partners. “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.”
Xelix’s Series B funding positions it to lead the AP automation market. With new board members from Insight Partners and a focus on generative AI integration, the company is set to enhance its platform’s capabilities, delivering robust fraud protection and operational efficiency to global finance teams.
Since 2018, Xelix has been a pioneer in the Accounts Payable audit and controls space. Its AI-powered platform bolts onto existing ERP and finance systems to detect payment errors and fraud, automate supplier statement reconciliations and streamline AP Helpdesk operations. Trusted by global enterprises, Xelix helps finance teams reduce risk, unlock cost savings and drive greater efficiency across Accounts Payable.
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