AccessPay secures $24m funding to enhance product development – FinTech News

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  • UK-based fintech AccessPay secures $24 million in equity and debt funding.
  • Funding round led by True Ventures with backing from other investors like Mastercard and NatWest.

AccessPay, a UK-based fintech company, has recently announced a successful funding round, raising $24 million in a mixture of equity and debt. The strategic funding round was led by Silicon Valley-based venture capital firm True Ventures, with additional backing from Beringea, Route 66 Ventures, Mastercard, NatWest, and Praetura Ventures. The company plans to use this funding to drive profitable growth, expand into the US market, and invest significantly in research and development (R&D) to enhance its product offerings.

Established in 2012, AccessPay offers a payment automation and bank data transformation platform, facilitating connectivity between corporate systems and financial services providers. The funding round will also give AccessPay the resources to explore strategic growth opportunities, including potential acquisitions. In 2019, the company secured an $11.5 million investment, with participation from investors who also contributed to this latest round.

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