13 March 2023, London: APEXX Global (‘APEXX’), the leading global payments orchestration platform, has raised $25m from existing and new investors, closing its Series B round. The funds will be used to develop APEXX’s products and technology and to expand its presence in North America.
APEXX raised the proceeds from investors across Europe, including MMC Ventures, who has backed the company since 2017, alongside Alliance Ventures and Forward Partners who increased their investments after participating in the previous round. MMC Ventures’ Chairman and Co-Founder Alan Morgan will also take a seat on APEXX’s board.
APEXX was born out of the idea to build a one-stop-shop for all merchant payment needs. Its partner-agnostic platform provides merchants with market access to the best performing payments services providers, in addition to automatic re-routing, routing flexibility and analytics that help merchants to maximise value. APEXX helps leading businesses such as Ryanair, CarTrawler and Avon, to boost their payments capabilities by addressing systemic pain points, including complexity, lack of trust, slow speed, and inflexibility of solutions. Through APEXX Connect, which was launched since the Series A round, merchants can also access over 12 solution providers throughout the BNPL ecosystem through one API.
APEXX will use the new capital to expand into North America via its New York office. APEXX will also invest in its capabilities across the global payments ecosystem and reinforce its leading position as a payment orchestration platform and BNPL aggregator. This will allow the company to introduce more payment methods to businesses globally.
Peter Keenan, Co-founder and CEO of APEXX Global, said: “I’m delighted to announce that we have successfully closed our Series B funding round. Since day one we’ve been laser focused on our mission to build the world’s leading payment orchestration platform and deliver clear benefits to merchants. We‘ve seen strong growth across international markets, delivering significant cost savings and transaction conversion benefits. We look forward to using these funds to further consolidate our position in driving the future of global payments.”
Alan Morgan, Chairman and Co-founder of MMC Ventures, said: “APEXX has achieved an inflection point, demonstrating its ability to win and expand large enterprise customer accounts, including CarTrawler, Ryanair, AVON Cosmetics and XE.Com. We’ve seen good momentum in terms of customer growth, and we are delighted to continue to back Peter and his talented team as they work with merchants to rethink payments and save money.”
Founded in 2016, APEXX is an award-winning global payments orchestration platform that combines acquirers, gateways, shopping carts and alternative payments methods into a single API. With offices in London, New York and India, APEXX helps consumer-facing businesses increase transaction efficiency, reduce costs and boost sales conversion rates.