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.

In terms of international expansion, the financial Technology Provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term is planning to enter the North American region. 10x Future Technologies aims to invest further into the development of its Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term-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.