Xelix Raises $160 Million in Series B Funding to Innovate Agentic AI for Accounts Payable Management

Xelix's Remarkable $160 Million Series B Funding Round

On July 21, 2025, Xelix, a prominent player in the agentic AI software sector for Accounts Payable (AP), achieved a significant milestone by securing a $160 million Series B funding round. This investment was spearheaded by Insight Partners, a renowned global software investor known for backing innovative technology firms. Xelix also garnered additional support from notable investors such as Passion Capital and LocalGlobe.

This substantial funding will bolster Xelix's efforts to accelerate the advancement of its platform, enabling more organizations to adopt cutting-edge AI technology to enhance their finance operations. The traditional methods of managing Accounts Payable and vendor risk have long relied on outdated manual processes and inefficient systems. As a result, companies have lost millions due to overpayments, increased fraud risks, and cumbersome workflows. With the integration of its AI-driven platform, Xelix aims to revolutionize these processes, introducing seamless operations that help organizations save money and reduce errors.

Addressing the Challenges in Accounts Payable

Xelix's platform is designed to integrate effortlessly with existing financial systems. Its capabilities include error detection in payments, automated supplier statement reconciliations, and streamlined operations for the Accounts Payable Helpdesk. Major enterprises, such as Astra Zeneca, British American Tobacco, GlaxoSmithKline, and Virgin Atlantic, have already benefited from using Xelix, amassing millions in cost savings while transforming their AP processes into efficient, automated workflows.

Paul Roiter, CEO of Xelix, emphasized the importance of this funding in their growth journey. He stated, "This funding marks a major milestone in our journey. It allows us to accelerate product innovation, expand our market presence, and reinforce our position as a category leader – enabling more finance teams to evolve Accounts Payable into a strategic, data-driven business partner."

Growth and Product Expansion

The past year has witnessed substantial growth for Xelix, particularly with the introduction of its Helpdesk module. This new agentic AP ticketing tool is designed to manage high volumes of supplier inquiries efficiently. Today, the Xelix platform encompasses three core solutions, processes over 115 million invoices each year, and audits more than $750 billion in organizational spend across 130+ global clients.

Ryan Hinkle, Managing Director at Insight Partners, remarked on the need for intelligent audit solutions in the finance sector. He noted, "Enterprise finance teams have long lacked an audit and control solution that is intelligent, proactive, system-agnostic, and efficient enough to support their high-volume workflows. Xelix uses AI to deliver a comprehensive control layer, helping enterprises eliminate overpayments and fraud risk while driving major efficiencies by automating day-to-day AP tasks."

Strengthening Leadership

The additional investment will allow Hinkle and Alessandro Luciano, Vice President at Insight Partners, to join Xelix's board of directors. This change is expected to provide further strategic guidance as Xelix enhances its market offerings in the finance technology sector.

Solano Partners, a specialized financial advisory firm dedicated to founder-led software companies, served as the exclusive financial advisor for Xelix during this transaction. Meanwhile, Houlihan Lokey acted as a financial advisor to Insight Partners throughout this investment process.

About Xelix

Founded in 2018, Xelix has established itself as a frontrunner in the Accounts Payable audit and controls arena. Its AI-powered technology integrates seamlessly with existing ERP and financial systems to protect against payment errors, fraud, and to streamline AP Helpdesk operations. By leveraging the Xelix platform, finance teams can reduce risk, unlock cost efficiencies, and enhance productivity within Accounts Payable operations.

For further information about the company and its innovative solutions, please visit the Xelix website.

About Insight Partners

Insight Partners is a leading global software investor dedicated to partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their respective industries. As of December 31, 2024, the firm manages over $90 billion in regulatory assets and has invested in more than 800 companies globally, with a track record of supporting over 55 portfolio companies through their Initial Public Offerings (IPOs). Headquartered in New York City, Insight Partners has additional offices in London, Tel Aviv, and San Francisco. To learn more, visit Insight Partners or follow them on Twitter @insightpartners.