Peter Keenan/Apexx Global.
Apexx Global raises $25m Series B
The startup providing alternative payment options is doubling down on its US expansion.
Apexx Global has secured $25m after closing its Series B funding round.
The money will be used to develop the global payments orchestration platform’s products and technology and to continue expanding its presence in North America.
Founded on the idea to build a “one-stop-shop for all merchant payment needs”, it first launched in the US last year as ‘buy now, pay later’ continued to boom in the market, and says it will expand via its New York office.
“Since day one we’ve been laser-focused on our mission to build the world’s leading payment orchestration platform and deliver clear benefits to merchants,” Apexx Global co-founder and CEO Peter Keenan said.
“We‘ve seen strong growth across international markets, delivering significant cost savings and transaction conversion benefits. We look forward to using these funds to further consolidate our position in driving the future of global payments.”
The funding round included MMC Ventures, which has backed the company since 2017, as well as Alliance Ventures and Forward Partners, which increased their investments from the previous rounds.
MMC Ventures’ co-founder and chair Alan Morgan will also be joining Apexx’s board.
“APEXX has achieved an inflection point, demonstrating its ability to win and expand large enterprise customer accounts, including CarTrawler, Ryanair, AVON Cosmetics and XE.Com,” Morgan said.
“We’ve seen good momentum in terms of customer growth, and we are delighted to continue to back Peter and his talented team as they work with merchants to rethink payments and save money.”
According to the company, it will use the money to invest in its capabilities across the global payments ecosystem alongside its American expansion, which will allow it to expand to businesses globally.