# 10x Banking Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/10x-banking-technology

- Industry: Software
- Headquarters: London, UK
- Website: www.10xbanking.com
- Total disclosed funding: $187M
- Latest round: Series C (May 13, 2021)
- Investors on record: 6

## About

10x Banking Technology Limited, headquartered in London, UK, specializes in providing a cloud-native SaaS core banking platform aimed at transforming banking experiences for retail, SME, and corporate clients globally.10x Banking Technology Limited, established in 2016 in London, UK, focuses on delivering innovative banking solutions. The firm has successfully completed 5 deals, with the most recent funding round occurring in January 2024. During this round, the company raised GBP 35 million, co-led by BlackRock and JP Morgan Asset Management, which has contributed to the total amount raised of GBP 35 million. The founder's background includes prior venture experiences, although specific details about previous companies are not available.10x Banking offers a comprehensive cloud-native SaaS core banking platform that aims to enhance the banking experience for retail, SME, and corporate clients. Utilizing proprietary meta core technology, the platform allows financial institutions to deliver hyper-personalized banking products across diverse markets, including Europe, Asia, and North America. This technology enables banks to efficiently launch new financial propositions, cater to a variety of customer needs, and pivot swiftly to changes in market demand, thus empowering customers to drive innovation and achieve substantial business outcomes.In 2023, 10x Banking reported a revenue of GBP 88,535,839.20, with an EBITDA of GBP 5,372,555.80. The firm's revenue model is primarily subscription-based, allowing financial institutions access to the core banking platform, which secures a sustainable revenue stream as clients engage with the services.In January 2024, 10x Banking Technology Limited raised GBP 35 million in funding to drive its expansion efforts. The company plans to leverage this investment to enhance its product offerings and enter new markets. Specific regions targeted for expansion include further penetration into European and Asian markets, with initiatives set for implementation throughout 2024. The funding will support these strategic efforts, enabling 10x Banking to extend its reach and improve its technological offerings.

## Funding rounds

- Series C, May 13, 2021, $187M — CPP Investment Board, Westpac Bank, JP Morgan Asset Management, Nationwide Building Society, BlackRock, Pingan Caizhi Capital

## Investors

- CPP Investment Board — Series C
- Westpac Bank — Series C
- JP Morgan Asset Management (https://capitalatlas.ai/funds/jp-morgan-asset-management) — Series C
- Nationwide Building Society — Series C
- BlackRock (https://capitalatlas.ai/funds/blackrock) — Series C
- Pingan Caizhi Capital — Series C