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Xelix

Fintech · London, United Kingdom · Founded 2016

Xelix operates as a financial technology firm, offering an AI-powered control center for accounts payable (AP) departments. The company was founded in London in 2018 by university friends Paul Roiter and Phillip Watts. Their shared background in running previous startups together, combined with their individual expertise, shaped Xelix's mission. Watts, a qualified accountant with experience in auditing and financial control at PwC and Barclays, and Roiter, who holds an MBA from Saïd Business School and has a background in finance and management at Mars Inc, identified a significant opportunity for intelligent automation in the AP space. The company targets large enterprises, typically those with revenues exceeding $500 million and processing at least 50,000 invoices annually. Its business model is software-as-a-service (SaaS), generating revenue by providing its cloud-based platform to these large organizations across various industries. Xelix has demonstrated significant growth, securing a $5 million Series A in July 2022 and a substantial $160 million Series B funding round in July 2025, led by Insight Partners. This capital is being used to accelerate product development and market expansion. The Xelix platform is designed as a "bolt-on" solution that integrates with existing Enterprise Resource Planning (ERP) and finance systems like SAP and Oracle, rather than replacing them. Its core functionality centers on five key AP processes: preventing overpayments and fraud, automating vendor statement reconciliations, cleansing master vendor data, providing AP/P2P reporting, and managing vendor queries. The platform uses machine learning and agentic AI to scan transactions in real-time to detect anomalies such as duplicate invoices, potential fraud, and overpayment risks before payment runs occur. A key module, the Helpdesk, uses generative AI to read, understand, and generate responses to supplier emails, significantly reducing manual effort. By automating these traditionally manual and time-consuming tasks, Xelix enables finance teams to operate more strategically, reduce financial leakage, and enhance relationships with suppliers through accurate and timely payments. Keywords: accounts payable automation, financial control, procure-to-pay, P2P, invoice intelligence, payment fraud prevention, vendor statement reconciliation, master data management, financial software, enterprise software, SaaS, fintech, AP automation, duplicate payment detection, supplier management, financial operations, AI in finance, machine learning, spend audit, AP helpdesk