Manchester-based AccessPay, a fintech that integrates digital banking tools into the systems of corporate clients, has raised $24m (£18.8m) from investors.
Founded in 2012, AccessPay connects company bank accounts to in-house digital systems, creating a central platform that clients can use to perform financial tasks.
AccessPay features include automated payments and bank statement retrieval, along with security and fraud prevention.
The investment round was led by Silicon Valley-based investor True Ventures and featured participation from Manchester-based Praetura Ventures, NatWest, Mastercard, Route 66 Ventures and Beringea.
“AccessPay simplifies corporate and institutional banking processes by streamlining all bank and finance apps into a shared interface,” said Phil Black, co-founder of True Ventures.
“This astute merging of automation, fintech, and tooling that improves processes for a massive market is what drew us to invest in this team since its seed investment, and we continue to feel excitement for the company’s next phase of growth and expansion.”
AccessPay said the new funding would largely go towards research and development.
Praetura Ventures investment director Pete Carway said the round underscores the VC’s “commitment to backing northern break-out successes”.
It comes as a taskforce launched this week to drive startup growth in the North West of England. The taskforce is made up of investors, trade bodies, banks, universities, founders and business leaders.
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