Fintech Company 10x Future Technologies Raises $187 Million
Banking technology firm, 10x Future Technologies announced today that it has raised $187 million in a Series C funding round. The UK-based fintech company is planning to accelerate its global expansion through the latest funds.
According to the company’s announcement, the latest investment round was co-led by funds managed by BlackRock and Canada Pension Plan Investment Board. Existing investors of 10x Future Technologies, including JPMorgan Chase, Nationwide, Ping An, and Westpac also participated in the recent investment.
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In terms of international expansion, the financial technology provider is planning to enter the North American region. 10x Future Technologies aims to invest further into the development of its cloud-native 10x SuperCore platform.
Commenting on the latest announcement, Antony Jenkins, Founder, Chair and CEO of 10x Future Technologies, said: “This funding round represents another significant milestone in our journey to become the operating system of choice for leading banks across the globe. 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.”
10x Future Technologies highlighted the company’s growth in the latest announcement. Founded in 2016 by Antony Jenkins, the fintech firm has a broad list of clients including Westpac, one of the oldest banks in Australia.
Transformation
10x Future Technologies highlighted the latest global banking challenges and mentioned the importance of innovative financial services and digital banking products in the current environment. “We have been impressed with 10x’s strategy and ambition to play a key role at the heart of transformations taking place in financial services, driven by technology innovation, consumer expectations, and regulatory reform. We are excited to be investing in the business as it scales into new markets,” BlackRock’s Head of Innovation Capital, William Abecassis mentioned in the official announcement.
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