Payments platform APEXX Global has closed its Series A funding at $8m (£6.4m), taking the total investment raised from investors across Europe to $12m.

Founded in 2016, the London firm’s platform is designed to consolidate gateways, acquirers, shopping carts and alternative payments methods into one API which helps increase conversion.

The funding, raised with contributions from new and existing investors in the UK and Scandinavia, will be put toward further growth.

APEXX has also been awarded a grant from Innovate UK, which will allow it to build its payment-routing capability.

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Peter Keenan, co-founder and CEO at APEXX Global, said: “I’m delighted to announce that we have successfully closed our Series A funding round, with the continued participation from Forward Partners, MMC and Alliance Ventures alongside a new investor.

“This is a challenging time for many businesses, and it is fantastic to have continued validation of our mission to revolutionise the global payments industry for merchants.

“We’ve seen significant growth over recent years and have had great success in increasing efficiency and reducing costs.

“It’s an exciting time for APEXX and I look forward to driving innovation and growth as we become the new standard in global payments.”