10x Future Technologies, London-based cloud banking platform, announced the completion of an oversubscribed US$187 million Series C financing round.
The funding round was 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.
The company said that the fundraising will support 10x’s plans to scale its platform to 1 billion end-user customers worldwide within next decade.
10x clients include building society Nationwide and Australia’s Westpac, 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.
“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,”
Featured image: 10X Future Technologies Team
