The funding round, backed also by US investors True Ventures and Route 66, is one of the largest ever investments in a financial technology company in the North.
AccessPay was founded in 2012; its platform enables finance and treasury teams to achieve cost and efficiency savings, as well as security upgrades around global payments and cash management. The platform connects corporate back-end systems with global banking and financial services providers.
Today AccessPay is used by more than 500 corporate clients across the UK including Barclays, the AA, and ITV and processes over 40 million transactions a year. It will use this investment to expand its sales, marketing and engineering teams and further develop its software platform.
Beringea manages over USD 700 million in funds in the UK and the US with over 60 portfolio companies spanning North America and Europe. It has previously backed several entrepreneurial companies in the North of England including ResponseTap, the marketing software business, and TH_NK, a digital agency which has recently been sold to EPAM, a global software company.
Beringea’s experienced investment team will continue to back similarly entrepreneurial, scaling businesses in growing sectors across the North.
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