TLDR:
AccessPay has secured $24m in strategic funding led by True Ventures, with contributions from other firms. The funding will be used for R&D efforts, including developing fraud prevention mechanisms and expanding in the US. AccessPay specializes in integrating bank and finance applications into a unified interface to streamline financial processes for corporations and institutions.
Article:
AccessPay, a leading bank integration provider, announced a strategic funding round of $24m, led by True Ventures and other firms including Praetura Ventures, NatWest, Mastercard, Route 66 Ventures, and Beringea. The company specializes in integrating a variety of bank and finance applications into a unified interface, simplifying corporate and institutional banking processes. The funding will primarily go towards R&D efforts, specifically focusing on developing advanced fraud prevention mechanisms and expanding in the US market through potential acquisitions.
Phil Black, co-founder of True Ventures, praised AccessPay’s innovative approach to banking technology, emphasizing the company’s ability to streamline processes and improve efficiency in the market. The company has already made significant strides in expanding its geographical footprint beyond the UK, entering markets in mainland Europe and the United States through strategic partnerships. This latest funding round is expected to further accelerate AccessPay’s growth ambitions.
Anish Kapoor, CEO of AccessPay, expressed his excitement about the funding round, highlighting the investor confidence in the company’s vision and potential for long-term growth. He emphasized the crucial role this funding will play in the company’s evolution and continued success. AccessPay’s focus on R&D and commitment to enhancing its service offerings ensures that its enterprise customers continue to receive unparalleled value in optimizing their financial processes.
