Manchester, UK-based payments router AccessPay has secured £2 million in debt financing from Clydesdale and Yorkshire Bank amid plans for a recruitment drive and expansion into US markets.
A specialist in cloud-based payments technology, with hundreds of UK-based customers and 35 employees, AccessPay enables payment routing through all of the major UK and international networks including Bacs, Swift, Faster Payments, Sepa and Direct Debit.
With a focus on organic growth, the orgnisation has its sights on increasing its business-reach to more than 10,000 organisations, who will join with other current high-profile clients such as Clifford Thames and European research organisation Cern.
Anish Kapoor, CEO of Accesspay says the funding will enable the business to recruit up to 60 new members of staff, including developers, sales, operations and marketing, before the end of 2017 and provides the platform for expansion into the US market later this year.
The firm has previously raised equity from two primary investors in the US: True Ventures and Route 66 Ventures.
In 2016 the five-year old business was the recipient of a £1 million loan from Barclays.