APEXX Global is to expand its presence in North America after securing £20.5 million of Series B funding.

The global payments orchestration platform, headquartered in London with bases in India and New York, raised the funds from existing and new investors.

MMC Ventures, which has backed the company since 2017, joined the round alongside fellow existing investors Alliance Ventures and Forward Partners 

MMC Ventures chairman and co-founder Alan Morgan will take a seat on APEXX’s board.

APEXX’s platform provides merchants with market access to the best performing payments services providers, in addition to automatic re-routing, routing flexibility and analytics. 

It helps leading businesses such as Ryanair, CarTrawler and Avon to boost their payments capabilities by addressing systemic pain points, including complexity, lack of trust, slow speed and inflexibility of solutions.

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Through APEXX Connect, merchants can also access over 12 solution providers throughout the Buy Now Pay Later ecosystem through one API. 

“We‘ve seen strong growth across international markets, delivering significant cost savings and transaction conversion benefits,” said Peter Keenan, co-founder and CEO. “We look forward to using these funds to further consolidate our position in driving the future of global payments.”

Morgan added: “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. 

“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.”

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