The FinTech founded by former Barclays chief executive Antony Jenkins has raised a reported £40 million in fresh funding.

10x Banking is a cloud-native core bank operating system which previously raised around £200m and featured on our FinTech 50 ranking last year. It powered US giant Chase’s entry into the UK retail banking market and recently expanded to Australia and New Zealand.

It has also appointed a new chief revenue officer in Matt Mills, who has joined from RegTech 50 firm Featurespace.

The firm says the round, led by existing investors BlackRock and JPMorgan Chase, marks the latest milestone in the company’s journey to revolutionise the banking industry.

“There has never been a more exciting time for banking transformation and core modernization, as banks across the world embark on this journey,” said Mills. 

“I’m incredibly excited to have joined a company with the strongest offering in this space, offering unparalleled resiliency and scale, combined with flexibility and speed beyond the rest of the market. 

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“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.”

Jenkins set the company up in 2016 after he was ousted as CEO of Barclays. Its 2022 accounts have been overdue since the end of 2023, according to Companies House.

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