Xelix, a company focusing on optimizing and accelerating AI development in Accounts Payable, has recently secured USD 160 million through a Series B funding round.

This substantial investment will help Xelix speed up the development of its platform and assist organizations in adopting AI technologies for their finance operations. The fund was led by Insight Partners, with additional support from Passion Capital and LocalGlobe.

Xelix’s AI-driven platform is designed to integrate seamlessly with existing systems to identify payment errors and fraudulent activities, automate supplier statement reconciliations, and streamline AP Helpdesk processes. These improvements aim to transform costly, manual AP procedures into efficient, intelligent workflows for enterprise organizations.

Details of Xelix’s USD 160 Million Series B Funding Round

Company officials stated that the investment will facilitate enhanced product development and market presence. Additionally, it will aid in making more finance teams capable of transforming Accounts Payable from a manual back-office function into a strategic, data-driven business partner.

Xelix plans to continue leveraging AI to provide a robust control layer, which can help institutions and enterprises reduce overpayments and fraud risks while driving significant efficiency gains through automated AP tasks. Furthermore, the company will offer finance teams opportunities to save costs, minimize risks, and increase efficiency in Accounts Payable operations.