10x Banking, the core operating supplier founded by former Barclays CEO Antony Jenkins, has picked up $50 million in fresh funding from existing investors Blackstone and JPMorgan Chase.
The firm last raised $187 million in a Series C round in June 2021 co-led by funds managed by BlackRock and Canada Pension Plan Investment Board (CPP Investments), and supported by existing investors and clients JPMorgan Chase, Nationwide, Ping An and Westpac.
The valuation at which the new funding has been invested is unclear, but it is unlikely to have been higher than the £500m-plus placed on it in the pre-tech crash era.
News of the funding coincides with the appointment of Matt Mills from Featurespace as the firm’s first chief revenue officer.
"There has never been a more exciting time for banking transformation and core modernization, as banks across the world embark on this journey”, says Mills. “Our mission is to enable banks to make banking better for their customers and society - 2024 is already set to be the most significant in our history, and I’m excited to be part of this journey.”