SwiftScale Selections is a monthly feature of 5 fast-growth, EnterpriseTech startups doing good stuff in a particular vertical.

In the last few months we’ve explored exciting Conversational AI, EdTech and DevOps startups. For September, we’re taking a look at FinTech.

So much of the exposure in the FinTech vertical is dominated by the exciting new B2C & B2B2C services like the challenger banks, card services and open banking apps. That’s no surprise when you look at how much funding they are drawing in – Unicorns left, right and centre. B2B FinTech services are less well advertised, and fair enough – they’re not exactly companies you’ll ever discuss at the dinner table.

However, there’s a whole world of exciting scaleups out there innovating enterprise in this space, from payments and accounting, to supply chain and compliance. So here are a few that we think you, and your family, should get excited about.

ComplyAdvantage – Compliance doesn’t have to be painful

UK-based, 2014 founded, $38.2m raised, 201-250 employees

Where’s the good stuff?

They raised a $30.0m Series B at the start of 2019, led by Index Ventures, joined by existing Series A investors Balderton. They were named ‘Most Innovative Compliance Service’ at the inaugural RemTech awards, and count the likes of Airwallex, MunichRE and Santander as existing clients.

What do they do?

ComplyAdvantage enable organisations to understand the real risk of who they’re doing business with, through the world’s only global, real-time risk database of people and companies.

They actively identify tens of thousands of risk events from millions of structured and unstructured data points – every single day. Their suite of configurable cloud services integrates seamlessly to help automate and reduce the frustration of complying with Sanctions, AML and CTF regulations.

APEXX The global partner for local payments

UK-based, 2016 founded, $4.0m raised, 11-50 employees

Where’s the good stuff?

Winners of the ‘Most Disruptive Technology‘ at the Payment Awards for the last 2 years running (and nominated again this year), APEXX have won a host of awards for their payments solution. They were recently selected as 1 of 23 scaleups in Tech Nation’s 2019 Fintech Program. Their clients include a wide range of large multinationals across the UK, Europe and the U.S. They have established partnerships with, among others, VISA, Mastercard and AliPay.

What do they do?

APEXX optimises the cost of complex merchants’ payment ecosystems by providing a gateway that consolidates global payment providers into a single integration point. The platform enables easy integration with a suite of providers for various payments services, including optimised cross-border payments, AI-driven fraud and security solutions and alternative payment methods. APEXX allows merchants to build bespoke payment environments for their specific business needs, reduce payment processing costs and improve transaction settlement times.

The founding team include the VP of Partnerships at EVO Payments International (the payment arm of Deutsche Bank, Bank of Ireland, CITI, and PKO), the VP of Relationship Management at WorldPay & the founder of Zapp (sold to Mastercard), alongside Non-executive Director, Valerie Keating (ex. CEO of Barclaycard).

Read about their last raise here.

Rimilia – Faster cash allocation, clearer information, and better control over cash flow

UK-based, 2008 founded, $25.0m raised, 101-150 employees

Where’s the good stuff?

Backed by Kennet Partners and Eight Roads (Fidelity Investment’s CVC), Rimilia have raised $25.0m to date. They joined the Microsoft ScaleUp program back in 2018 and operate globally across any sector, with customers in over 50 countries spanning USA, Europe and Australia, including Britvic, DHL, Gazprom, HSBC and ITV.

What do they do?

Rimilia provides intelligent finance automation solutions to improve cash application, remittance services and credit collection processes. Harnessing machine learning, predictive analysis and artificial intelligence, Rimilia enables corporates to increase throughput, resolve unaccounted payments, gain transparency of transactions and apply valuable predictive insight and dynamic decision-making into payment processes.

Rimilia’s Alloc8 software automates the manually intensive process of matching payments with expected receivables. With auto-matching rates up to 95 per cent, they dramatically improve the quality and speed of cash allocation and revenue recognition and reduce manual activity.

Fidel – Unlock the power of real-time payment data

UK-based, 2013 founded, $20.6m raised, 11-50 employees

Where’s the good stuff?

They recently closed an $18.0m Series A round, co-led by US investors Nyca Partners and QED Investors. They are joined by an exciting list of strategic investors, including Citi Ventures and RBC Ventures Inc, alongside Angel investors Taavet Hinrikus (Founder, Transferwise) and Chris Conde (former CEO, Sungard). Their current enterprise clients include Avios, Just Eat, Klarna, Odeon and RBC.

What do they do?

Fidel are democratising access to payment data, globally.

Fidel makes it quick, easy and affordable for developers to access real-time card payment data. Through a single API, developers can securely access data from the three major card networks and build their applications on top of the powerful payments infrastructure – supercharging innovation and driving value back to consumers.

Check out their blog here for more interesting content.

AccessPayYour financial world, connected and secure

UK-based, 2012 founded, £13.0m raised, 101-150 employees

Where’s the good stuff?

They raised £9.0m earlier this year from leading transatlantic investors Beringea, joined by Series A investors True Ventures and Route 66 Ventures, boasting strong US-backing for a UK-based scaleup. Named in the Deloitte Fast 50 for 2017, they are processing over 40 million transactions a year and are currently used by leading companies, such as the AA, Barclays, ITV, and Stena Line.

What do they do?

AccessPay‘s Enterprise-to-Bank integration platform creates a frictionless experience for organisations to connect any back-office system to 11,000+ banks and payment schemes quickly and securely, helping solve integration challenges for thousands of finance and treasury teams across the globe.

Their cloud-based service provides ease of integration with any ERP, TMS, or other back-end systems, and further enables the straight-through processing of domestic and international payments via BACS, FPS, CHAPS, and SWIFT.