Insider Brief
- Xelix has raised $160M in Series B funding led by Insight Partners to accelerate product development and expand adoption of its AI-powered Accounts Payable platform.
- The platform helps enterprises detect payment errors and fraud, automate reconciliations, and streamline AP operations — auditing over $750B in spend annually across 130+ global customers.
- Backed by major clients like GSK and Virgin Atlantic, Xelix’s growth has been driven by strong ROI, including its agentic Helpdesk module that handles high volumes of supplier queries.
PRESS RELEASE — Xelix, a leading agentic AI software company in the Accounts Payable (AP) space, today announced a $160 million Series B funding round led by global software investor Insight Partners, with follow-on investments from Passion Capital and LocalGlobe. This funding will enable Xelix to accelerate platform development and support more organizations in adopting AI for their finance operations.
For too long, companies have relied on manual processes and basic systems to manage Accounts Payable and vendor risk. As a result, enterprises lose millions each year to overpayments, face increased fraud risks and suffer from bloated and burdensome manual workflows. Recognizing the need for improved AP controls, Xelix’s AI-powered platform seamlessly integrates with existing systems to detect payment errors and fraud, automate supplier statement reconciliations and streamline AP Helpdesk operations. Enterprise organizations such as Astra Zeneca, BAT, GSK and Virgin Atlantic have achieved millions in cost savings with Xelix whilst transforming costly, manual AP processes into automated, intelligent workflows.
This investment follows a period of significant, capital-efficient growth for Xelix — driven by a differentiated product offering, massive customer ROI and a deep commitment to client support and value realisation.
“This funding marks a major milestone in our journey,” said Paul Roiter, CEO of Xelix. “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 from a manual back-office function into a strategic, data-driven business partner.”
Xelix’s growth accelerated in 2024 with the addition of its Helpdesk module — an agentic AP ticketing tool for handling high volumes of supplier queries. Today, the Xelix platform offers three core solutions, processes over 115 million invoices annually and audits more than $750 billion in spend across 130+ global customers.
“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,” said Ryan Hinkle, Managing Director at Insight Partners. “While spot checks are helpful, anything less than a full audit of every invoice leaves potential for fraud, mistakes, or abuse. 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. We are excited to back Paul, Phil, and the Xelix team in this next chapter of growth.”
As part of the investment, Hinkle and Alessandro Luciano, Vice President at Insight Partners, will join the Xelix board of directors.
Solano Partners, a boutique investment bank focused on founder-led software businesses, acted as exclusive financial advisor to Xelix on the transaction. Houlihan Lokey served as financial advisor to Insight Partners.
About Xelix
Since 2018, Xelix has been a pioneer in the Accounts Payable audit and controls space. Its AI-powered platform bolts onto existing ERP and finance systems to detect payment errors and fraud, automate supplier statement reconciliations and streamline AP Helpdesk operations. Trusted by global enterprises, Xelix helps finance teams reduce risk, unlock cost savings and drive greater efficiency across Accounts Payable.
To learn more, please visit: https://xelix.com/
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2024, the firm has over $90B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.
