10x Future Applied sciences eyes $100m in Sequence C spherical – FinTech Futures


UK-based banking expertise vendor, 10x Future Applied sciences, is planning a $100 million fundraise subsequent yr.

The funds can be used for additional growth of its worldwide operations.

10x plans £100m capital increase subsequent yr

Sky Information understands that founder and government chair, Antony Jenkins, has employed monetary advisory group, Lazard, to supervise a Sequence C funding spherical in 2021.

The capital-raise would be the first for 10x since a £32 million fairness injection within the first half of final yr.

The agency lately recruited Dr Leda Glyptis as its chief client officer, and Mark Holt as chief product and engineering officer.

Jenkins established the corporate in 2016 to assist main banks handle their accelerating transition to digital providers.

The agency has attracted funding from Nationwide and JP Morgan, the Wall Road behemoth which plans to launch a client banking app within the UK subsequent yr.

10x’s different shareholders embody the Chinese language insurer Ping An and administration consultancy, Oliver Wyman.

10x competes towards the likes of Mambu and ThoughtMachine.

The report notes that Mambu can also be elevating further funds to speed up its development.

Learn subsequent: Westpac partners with 10x Future Technologies to build new platform


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