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APEXX raises USD4m in initial seed round

APEXX, a single marketplace for global payments, has closed an initial seed funding round and been awarded a grant by Innovate UK, activity totalling USD4 million (GBP3.2 million).

The round was led by Forward Partners, a top London-based VC which specialises in applied artificial intelligence (AI) and have previously invested in EmpowerRD, Ably and Epic. The round was also supported by MMC Ventures and Alliance Venture, based in Oslo, Norway.
 
The global APEXX network is made up of payment service providers and banks which helps merchants to reduce the cost of cross border payment acceptance, increase sales with optimised payment transaction routing and manage multiple provider relationships through a single integration point. Using the cloud-based platform, merchants can compare costs and get expert advice on the payment providers that will best suit them. It can save merchants upwards of 15% on the cost of processing credit or debit card payments and alternative payments.
 
In July, Valerie Soranno Keating, ex-CEO of Barclaycard, joined APEXX’s board as Non-Executive Director. Since forming in April 2017, the Fintech platform has seen exciting growth and also received industry recognition in November, when they won Most Disruptive Payments Technology in the 2017 Payments Awards.
 
APEXX will use the investment to further extend their global network of acquirers, payment providers and merchants, and fund product development.

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