TLDR:
- AccessPay, a Manchester-based FinTech company, has secured £19 million in funding.
- The funding round was led by True Ventures, a Silicon Valley-based VC firm.
AccessPay, a FinTech 50 star, has closed a funding round of £19 million with a combination of equity and debt financing. The Manchester-based company, ranked third on the FinTech 50 list last year, plans to use the funding to drive profitable growth and increase revenues sustainably. The funding round was led by True Ventures, a Silicon Valley-based venture capital firm, with participation from other investors like Praetura Ventures, NatWest, Mastercard, Route 66 Ventures, and Beringea. AccessPay intends to use the funds to enhance capabilities in fraud prevention, bank statement data automation, and continue its expansion in the US.
CEO Anish Kapoor expressed excitement about the funding round and stated that it reflects investor confidence in the company’s vision and growth potential. AccessPay has made significant senior hires in recent years and expanded its geographical reach to mainland Europe and the US. True Ventures co-founder Phil Black praised AccessPay for simplifying banking processes and streamlining financial apps into a shared interface. Pete Carway, investment director at Praetura Ventures, highlighted the firm’s commitment to supporting global expansion efforts and providing operational support. This investment marks Praetura Ventures’ dedication to backing successful Northern businesses and building strong relationships.
