APEXX Global (‘APEXX’), a global payments platform, has closed its Series A funding to drive the next stage of the company’s growth, taking the total investment raised from investors across Europe to $12m.
Founded in 2016, APEXX is a global payments platform that combines acquirers, gateways, shopping carts and Alternative Payments Methods into a single API connection.
The funds were raised from new and existing investors in the U.K. and Scandinavia. Forward Partners, MMC and Alliance Ventures all increased their investments in APEXX after participating in the earlier seed round.
APEXX has also been awarded a grant from Innovate UK, a public body that supports innovation and research, which will allow it to significantly enhance its next-generation payment-routing capability.
This will work to further reduce the complexity of e-payments, increasing conversion rates and ultimately reducing costs.
The proceeds will also be used to expand APEXX’s digital platform to create a seamless customer experience and to facilitate the recruitment of key hires for the operational team, bolstering the 65-strong workforce already in place across London’s Silicon Roundabout and the cities of Pune and Ahmedabad in India.
Peter Keenan, Co-founder and CEO at APEXX Global, comments: “I’m delighted to announce that we have successfully closed our Series A funding round, with the continued participation from Forward Partners, MMC and Alliance Ventures alongside a new investor.
“This is a challenging time for many businesses, and it is fantastic to have continued validation of our mission to revolutionise the global payments industry for merchants.
“We’ve seen significant growth over recent years and have had great success in increasing efficiency and reducing costs. It’s an exciting time for APEXX and I look forward to driving innovation and growth as we become the new standard in global payments.”