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

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UK-based banking know-how vendor, 10x Future Applied sciences, is planning a $100 million fundraise subsequent 12 months.

The funds will likely be used for additional enlargement of its worldwide operations.

10x plans £100m capital increase subsequent 12 months

Sky Information understands that founder and govt chair, Antony Jenkins, has employed monetary advisory group, Lazard, to supervise a Collection 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 12 months.

The agency not too long ago 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 companies.

The agency has attracted funding from Nationwide and JP Morgan, the Wall Avenue behemoth which plans to launch a shopper banking app within the UK subsequent 12 months.

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

10x competes in opposition to the likes of Mambu and ThoughtMachine.

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

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

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