UK fintech 10x Future Technologies announces $187m Series C funding
10x Future Technologies announces the completion of an oversubscribed $187 million Series C financing round, co-led by funds managed by BlackRock and Canada Pension Plan Investment Board (CPP Investments) and supported by existing investors JPMorgan Chase, Nationwide, Ping An and Westpac.
The London-based technology company will use the funding to support its expansion plans into new markets, including North America, as well as further investment into the development of the cloud native 10x SuperCore™ platform.
“This funding round represents another significant milestone in our journey to become the operating system of choice for leading banks across the globe,” said Antony Jenkins, Founder, Chair and CEO of 10x Future Technologies.
“With our microservices architecture and API-first design, our platform has been purposefully designed to enable the world’s largest banks to transform their customer experience and economics. Our vision is to reliably support more than one billion of their customers within the next 10 years,” Jenkins added.
10x clients include Nationwide, the largest building society in the world, and Westpac, Australia’s first and oldest bank, which is preparing to launch a Banking-as-a-Service (BaaS) platform powered by the 10x SuperCore™. 10x is working with top-tier banks globally and has recently begun working with a major bank in an additional geography to deliver a greenfield transformation project.
“Our investors are focused on industries that are going to be transformed by technology and companies that will be dominant players in that space,” said Jenkins.
“We look forward to scaling our business in delivering the cutting-edge approach our clients need to transform the way they enable their customers to bank, pay, buy and borrow.”