AccessPay Secures £6.2 Million Funding Boost: Empowering Growth in FinTech

February 7, 2024

Author: Karan Bodh
AccessPay Secures £6.2 Million Funding Boost: Empowering Growth in FinTech

Manchester's AccessPay, a shining star in the FinTech arena, recently secured a substantial boost, raising £6.2 million in growth capital from NatWest Venture & Growth Finance. This infusion of funds marks a significant milestone for the company, highlighting its position as a key player in the financial technology landscape.

Founded in 2012 in Manchester, AccessPay quickly distinguished itself as a leader in the industry, earning recognition as the fastest-growing FinTech company outside of London in 2019, as per the Deloitte Fast 50 rankings. Now, with this latest funding round, AccessPay is poised to further accelerate its growth trajectory.

Sean Moriarty, CFO at AccessPay, expressed his delight at the new partnership with NatWest, emphasising the value of the collaboration. He lauded NatWest's professionalism and swift understanding of AccessPay's offerings, laying the foundation for a promising long-term relationship.

NatWest Venture & Growth Finance's director, Kristine Erwin, highlighted AccessPay's pivotal role in addressing challenges within corporate and institutional banking. By offering a comprehensive platform that seamlessly integrates with multiple banks and finance applications, AccessPay simplifies financial operations, from payments to cash visibility, in an increasingly complex market.

Simon Foss, Vice President at NatWest Venture & Growth Finance, underlined the institution's commitment to supporting high-growth businesses in the Northern region. With a substantial pool of funds earmarked for investment, NatWest aims to bolster businesses like AccessPay, which drive innovation and economic growth.

AccessPay's journey under the leadership of Anish Kapoor has been marked by sustained growth and innovation. Kapoor's vision and strategic direction have propelled the company to new heights, attracting significant investments, including a £9 million infusion in 2019 led by prominent venture capital investors.

This latest funding round underscores AccessPay's continued relevance and potential in the FinTech landscape. As financial services become increasingly digitised and interconnected, AccessPay's offerings hold immense value for businesses seeking streamlined solutions amidst evolving regulatory frameworks and market complexities.

Looking ahead, AccessPay is well-positioned to capitalise on emerging opportunities, fuelled by its strong financial backing and commitment to innovation. With support from NatWest and other investors, AccessPay is poised to further expand its reach and solidify its position as a leading provider of bank integration-as-a-service solutions.

In conclusion, AccessPay's successful funding round represents not only a significant milestone for the company but also a testament to the vibrancy of the FinTech sector, particularly in regions outside of traditional financial hubs. As AccessPay continues on its growth trajectory, it remains a shining example of innovation and entrepreneurship in the dynamic landscape of financial technology.