Alternative payments provider APEXX Global raises £20.8m

APEXX Global Image credit: myboys.me via Shutterstock

APEXX Global, a startup that provides merchants with alternative payment options, has raised $25m (£20.8m) in a Series B funding round.

APEXX pitches itself as a one-stop shop for merchants looking to incorporate alternative payment options in their services. The company connects sellers with various payment options, including buy now pay later (BNPL) products, allowing them to add different payment types at checkout.

“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,” said Peter Keenan, co-founder and CEO of APEXX Global.

“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.”

Now armed with new funding, the London-based company is looking to expand its reach into North America through its New York office. APEXX will also look to add more payment types to its offering.

The Series B round came from existing investor MMC Ventures, along with Alliance Ventures and Forward Partners.

“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,” said Alan Morgan, chairman and co-founder of MMC Ventures.

“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.”

The company previously raised $8m (£6.6m) for its Series A round back in June 2020.