Xelix
Xelix helps finance teams prevent AP fraud and overpayments using AI.
Xelix is an AI-powered accounts payable intelligence platform that bolts onto existing ERP and AP systems to enhance financial controls and prevent fraud. Unlike traditional AP automation vendors, Xelix focuses on assurance, overpayment detection, and vendor statement reconciliation using proprietary AI models trained on seven years of data. The platform processes $200B+ in annual invoice flow, reviewing 500+ data points per invoice to identify threats and errors in real-time, and has achieved a 98% customer retention rate.
Problem solved
Finance teams lack visibility into invoice anomalies, duplicates, and overpayments within their AP workflows, relying on manual reconciliation, spreadsheets, and expensive audit services to catch errors.
Target customer
Large enterprises (Fortune 500, mid-market) with complex AP processes, high transaction volumes, and significant audit/compliance requirements across all industries.
Founders
P
Paul Roiter
CEO & Co-Founder
Co-founded Xelix in 2018 after identifying gaps in traditional accounts payable workflows.
P
Phil Watts
Chief Product Officer & Co-Founder
Co-founded Xelix in 2018 alongside Paul Roiter to solve modern finance team AP challenges.
Funding history
Seed & Series A
£6M (~$7.6M USD)
2021
Led by Fintop Capital
· Passion Capital, LocalGlobe, Paul Forster (Indeed founder), Simon Burke (ex-Virgin CEO)
Series A
$5M
June 2022
Led by Fintop Capital
· Passion Capital, LocalGlobe
Series B
$160M
July 2025
Led by Insight Partners
· Passion Capital, LocalGlobe
Total raised:
$167M
Industries
Pricing
Not publicly available. Contact sales for enterprise pricing aligned to transaction volume and feature set.
Notable customers
Astra Zeneca, BAT, GSK, Virgin Atlantic, Equans, Mole Valley Farmers, 120+ customers across multiple industries
Integrations
ERP systems (data feed model), The Recon Group (strategic partnership for financial reconciliation consulting)
Tech stack
jQuery (JavaScript libraries)
HubSpot Chat (Live chat)
HubSpot CMS Hub (CMS)
Elfsight (Widgets)
HubSpot Analytics (Analytics)
Google Analytics (Analytics)
Cloudflare Bot Management (Security)
HSTS (Security)
Microsoft 365 (Email)
Cloudflare (CDN)
MailChimp (Marketing automation)
HubSpot (Marketing automation)
DoubleClick Floodlight (Advertising)
Google Tag Manager (Tag managers)
Amazon Web Services (PaaS)
Amazon SES (Email)
HTTP/3
Website
Competitors
Coupa
Broader enterprise spend management platform; Xelix is specialized on AP intelligence and assurance rather than full procurement-to-pay.
SAP Ariba
Legacy AP automation focused on processing; Xelix emphasizes AI-driven control and fraud detection over process volume.
Stampli
General AP automation with document capture; Xelix differentiates on AI-powered anomaly detection and overpayment prevention.
PaymentWorks
Vendor management platform; Xelix focuses on invoice analysis and statement reconciliation rather than vendor onboarding.
Basware
Traditional AP processing vendor; Xelix operates as an intelligence layer on top of existing systems.
Why this matters: Xelix represents a new category of AP software—not traditional RPA or automation, but AI-powered financial control and intelligence. With $167M in funding and $200B in annual invoice processing, the platform demonstrates strong product-market fit and profitability focus, particularly resonating with enterprises seeking fraud prevention and assurance in a market still dominated by spreadsheets and expensive audit services.
Best for: Large enterprises with high AP transaction volumes ($100M+) that need AI-powered fraud prevention, duplicate detection, and vendor reconciliation without replacing existing ERP systems.
Use cases
Duplicate Invoice Detection
Enterprise finance teams process thousands of invoices monthly across multiple vendors. Xelix identified $8-9M in duplicate invoices at one customer immediately upon deployment and $1.8M at another within three months, preventing waste without manual audit labor.
Vendor Statement Reconciliation
Manual statement matching is time-consuming and error-prone. Equans now reconciles 100% of supplier statements with 24-hour turnaround using Xelix, reducing vendor queries by 25% and improving operational efficiency.
AP Process Automation & Productivity
Mole Valley Farmers automated their entire statement reconciliation workflow with Xelix, achieving 40x productivity improvement and freeing AP staff for higher-value analysis and vendor relationship management.
Real-time Payment Risk Detection
Finance teams need early warning of invoice anomalies before payment processing. Xelix reviews 500+ data points per invoice to flag overpayments, fraud, and errors at invoice receipt stage rather than post-payment recovery.
Alternatives
Coupa
Choose Coupa if you need a comprehensive spend management platform covering procurement, contracts, and supplier management; Xelix if you need specialized AP control and fraud detection.
SAP Ariba
Choose SAP Ariba if you need enterprise-wide procurement automation deeply integrated with SAP systems; Xelix if you want a lightweight intelligence layer for existing AP systems.
Stampli
Choose Stampli for document capture and basic AP automation; Xelix for AI-driven anomaly detection and fraud prevention that doesn't replace your ERP.
FAQ
What does Xelix do? +
Xelix is an AI-powered intelligence platform that enhances existing ERP and accounts payable systems to detect invoice fraud, overpayments, and duplicates. Rather than replacing AP systems, Xelix acts as a control layer that reviews 500+ data points per invoice, processes $200B+ in annual invoice flow, and automates vendor statement reconciliation. The platform uses proprietary AI models trained on seven years of data to identify threats in real-time.
How much does Xelix cost? +
Xelix pricing is not publicly available. Enterprise pricing is based on transaction volume and feature requirements. Contact Xelix sales for a custom quote.
What are the main competitors to Xelix? +
Top competitors include Coupa (broader spend management), SAP Ariba (legacy AP automation), and Stampli (document capture and AP automation). Other notable alternatives are PaymentWorks, iPayables, Basware, and Fiscal Technologies. Xelix differentiates by focusing on AP assurance and intelligence rather than processing automation.
Who uses Xelix? +
Xelix serves large enterprises and mid-market companies with high AP transaction volumes across all industries. Notable customers include Astra Zeneca, BAT, GSK, Virgin Atlantic, and Equans. The platform has 120+ customers globally and maintains a 98% retention rate.
How does Xelix compare to Coupa? +
Coupa is a comprehensive spend management platform covering procurement, contracts, and AP; Xelix specializes in AP control and fraud detection as a bolt-on layer to existing systems. Xelix differentiates through AI-driven anomaly detection and overpayment prevention, while Coupa focuses on end-to-end process automation. Choose Xelix if you want to enhance existing ERP systems; choose Coupa if you need a unified platform.
Tags
accounts payable
AI
fraud detection
AP automation
financial controls
overpayment prevention
vendor reconciliation
invoice analysis
enterprise finance