AccessPay Secures $24 Million in Strategic Funding to Fuel Growth and Expansion

AccessPay, a Manchester-based bank integration provider, announced the completion of a $24 million funding round, combining equity and debt, to bolster its momentum and expansion efforts. The investment round received leading support from Silicon Valley's True Ventures, with additional backing from entities including Praetura Ventures, NatWest, Mastercard, Route 66 Ventures, and Beringea. This significant financial infusion is set to accelerate AccessPay's profitable growth strategy and enhance its revenue generation sustainably.

A substantial part of the funding is earmarked for research and development, aiming to innovate in fraud and error prevention, bank statement data automation, and ISO20022 data transformation. With plans to expand its footprint in the U.S., AccessPay is poised to elevate its enterprise solutions further. Phil Black, co-founder of True Ventures, praised AccessPay's ability to simplify corporate banking through automation and tool integration, underlining the potential for growth and expansion.

Pete Carway of Praetura Ventures emphasized the firm's commitment to supporting AccessPay's global aspirations, highlighting the operational expertise and support the investment team will provide. The latest funding round is expected to enable AccessPay to pursue strategic growth opportunities, including geographical expansion and potential acquisitions, to solidify its market presence and service offerings further.

Anish Kapoor, CEO of AccessPay, expressed his gratitude for the investors' confidence in the company's vision and growth potential, reflecting on the resilience and achievements since its inception in 2012. This investment marks a pivotal stage in AccessPay's evolution, aiming to enhance its offerings and market footprint significantly.