Beringea make two landmark announcements this week

Author

Beringea LLP

17 January 2019

Our investment in AccessPay, backed also by US investors True Ventures and Route 66, is one of the largest ever investments in a financial technology company in the North. Maria Wagner, Investment Director at Beringea, led the deal.

The investment also marked the expansion of Beringea’s footprint in the North of England, as the firm has launched its first dedicated office in the region in central Manchester. This expanded presence will enable Beringea to work more closely with the region’s scaling businesses and provide capital to support the acceleration of the region’s digital economy.

The Manchester office is led by Marc Shirman, former co-head of Muzinich & Co.’s UK private capital fund and now Investment Director at Beringea. He will be seeking to engage entrepreneurs throughout the region’s key technology hubs and looking for opportunities to back successfully scaling businesses across a range of sectors.

AccessPay was founded in Manchester in 2012 and it has quickly grown into an established leader in fintech. Its platform enables finance and treasury teams to achieve significant cost and efficiency savings, as well as security improvements around global payments and cash management. The platform connects corporate back-end systems with global banking and financial services providers.

Today, AccessPay is used by more than 500 corporate clients across the UK including Barclays, the AA, and ITV and processes over 40 million transactions a year. It will use this investment to expand its sales, marketing and engineering teams and further develop its software platform. It is the fastest growing fintech company outside of London, according to the Deloitte Fast 50 rankings.

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