Beringea leads £9m round for AccessPay

US venture houses True Ventures and Route 66 also took part in the round, which will fund product development and recruitment in AccessPay's sales, marketing and engineering teams.

The latest investment brings the total amount raised by the company to £13m.

Beringea also announced it has launched a new office in Manchester, which will be led by investment director Marc Shirman, formerly co-head of Muzinich & Co's UK private capital fund. The VC said it is looking to expand its investment activity in the north of England.

Previous funding
Route 66 and True Ventures provided an undisclosed amount of seed capital funding to AccessPay in 2014.

The business then raised £2m in debt funding from Clydesdale and Yorkshire Bank in 2017 in order to undertake a recruitment drive and launch a US office.

Company
Founded in 2012, Manchester-headquartered AccessPay develops corporate payment processing software that connects companies' back-end systems with multiple financial services. It uses a single security system for multiple suppliers, which is intended to reduce the risk incurred by transmitting information through various providers' systems. The business has a headcount of 50 and its clients include Barclays, AA and ITV.

People
Beringea – Maria Wagner (investment director).
AccessPay – Anish Kapoor (CEO).

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