Payments orchestration platform APEXX Global has closed its Series B funding round with USD 25 million raised to expand in North America and develop its products and technology. Based on the information detailed in the press release, investors across Europe participated in the funding round, such as MMC Ventures, which has backed the company from 2017 onwards, together with Alliance Ventures and Forward Partners, which had an increase in investments following their participation in the previous round.

APEXX offering and how the funding falls into place As per the announcement details, APEXX was founded out of the idea of building a one-stop-shop for all merchant payment needs, with its partner-agnostic platform enabling merchants with access to payments services providers, together with automatic re-routing and routing flexibility and analytics that are believed to help them maximise value. The company helps businesses of the likes of Ryanair, CarTrawler and Avon to increase their payment capabilities by addressing systemic pain points such as complexity, lack of trust, slow speed, and solutions’ inflexibility. Its APEXX Connect solution, launched in March 2021, enables merchants to access more than 12 solution providers throughout the Buy Now, Pay Later (BNPL) ecosystem through means of a single API.

APEXX is set to leverage the new capital towards its expansion into North America via its New York office and invest in its capabilities across the global payments ecosystem to reinforce its position as a payment orchestration platform and BNPL aggregator. This is believed to enable the company to introduce an increased number of payment methods to businesses worldwide. Commenting on the successful closure of the Series B funding round, Peter Keenan, Co-founder and CEO of APEXX Global stated that the company’s mission is that of building a payment orchestration platform and delivering ‘clear’ benefits to merchants.

As per their statement, the company has seen growth throughout international markets, providing cost savings and transaction conversion benefits, and is looking towards leveraging these funds further to consolidate its position within the global payments industry. Alan Morgan, Chairman and Co-founder of MMC Ventures added that the company has demonstrated its ability to gain and expand large enterprise customer accounts, and as the investor has noticed good momentum in terms of customer growth, it looking to further continue backing the company as they collaborate with merchants to rethink payments and save money. APEXX Global offering and recent developments A 2016-founded company, APEXX is a global payments orchestration platform that combines acquirers, gateways, shopping carts and alternative payment methods into a single API.

The company is building an integrated and transparent service that helps manage the authorisation, processing, and optimisation of transactions. Its most recent development marks the February 2023 collaboration with the digital A2A transactions platform Trustly which had the aim of enabling merchants with the latter’s recurring payment method. .