APEXX Global has raised $25 million in a Series B round.
The funds come from existing investors Forward Partners, Alliance, and MMC Ventures.
APEXX Global will use the new investment to expand further into North America and to boost product development.
Global payment solutions company APEXX Global has raised $25 million in Series B funding. The investment, which comes from Forward Partners, Alliance, and MMC Ventures, brings APEXX’s total amount raised to $37.1 million.
“I’m delighted to announce that we have successfully closed our Series B funding round,” said APEXX Global Co-founder and CEO Peter Keenan. “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. 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.”
APEXX Global, which currently holds offices in New York, London, and India, plans to use the funds to expand further into North America via its New York office. The company will also leverage the investment to boost product development.
APEXX offers a payment orchestration layer to help merchants optimize their payment stack. The company’s payment gateway enhances the global payment processing experience by processing payments locally to help circumvent foreign exchange fees on cross-border transactions.
In addition to traditional payment methods, APEXX enables businesses to offer alternative payment methods to their end customers. The company currently partners with more than 120 alternative payment methods, including Apple Pay, Klarna, Alipay, and PayPal. Allowing users to pay using their preferred method not only enhances the user experience, but it also has the potential to increase sales.
“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,” said MMC Ventures Chairman and Co-founder Alan Morgan. With today’s agreement, Morgan will also take a seat on APEXX’s board of directors.
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