Xelix Raises $160M Series B to Advance AI in Finance Operations

Xelix, a London-based fintech firm specializing in agentic AI for accounts payable (AP), has raised $160 million in a Series B funding round led by Insight Partners, with participation from Passion Capital and LocalGlobe. The funding will support the development of Xelix's AI-powered platform, which integrates with existing ERP and finance systems to detect payment errors, prevent fraud, automate supplier reconciliations, and streamline AP helpdesk operations. Xelix's platform, used by over 130 global customers including AstraZeneca, GSK, and Virgin Atlantic, processes more than 115 million invoices and audits over $750 billion in spend annually. The company aims to transform AP from a manual back-office function into a strategic, data-driven business partner, enhancing automation and efficiency in finance operations. Insight Partners' managing director Ryan Hinkle emphasized the need for intelligent, proactive audit solutions in enterprise finance, and both he and VP Alessandro Luciano will join Xelix's board of directors. CEO Paul Roiter highlighted that the funding marks a major milestone that will accelerate product innovation and expand market presence, reinforcing Xelix's leadership in the AP AI space.