About 10x Banking
10x Banking is a company based in London (United Kingdom) founded in 2016. It operates as a SaaS (Software-as-a-Service). 10x Banking has raised $348.89 million across 4 funding rounds from investors including Nationwide, JPMorgan Chase and Nationwide. 10x Banking offers products and services including Meta Core Platform and AI Banking Tools. 10x Banking operates in a competitive market with competitors including nCino, ION Group, Tuum, Thought Machine and Backbase, among others.
- Headquarter London, United Kingdom
- Stage Minicorn
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name 10X Banking Technology Limited
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Annual Revenue
$27.18 M (USD)-1as on Dec 31, 2023
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Net Profit
$-60.82 M (USD)9as on Dec 31, 2023
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EBITDA
$-68.65 M (USD)7as on Dec 31, 2023
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Total Equity Funding
$348.89 M (USD)
in 4 rounds
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Latest Funding Round
$50.94 M (USD), Series C
Jan 16, 2024
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Investors
Nationwide
& 8 more
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Employee Count
Employee Count
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Products & Services of 10x Banking
10x Banking offers a comprehensive portfolio of products and services, including Meta Core Platform and AI Banking Tools. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
A cloud-native platform for modern banking solutions.
AI tools are provided for banking innovation.
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Funding Insights of 10x Banking
10x Banking has successfully raised a total of $348.89M across 4 strategic funding rounds. The most recent funding activity was a Series C round of $50.94 million completed in January 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series C — $50.9M
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First Round
First Round
(15 Sep 2017)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2024 | Amount | Series C - 10x Banking | Valuation | BlackRock , JPMorgan Chase |
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| Jun, 2021 | Amount | Series C - 10x Banking | Valuation | BlackRock , CPP Investments | |
| Feb, 2019 | Amount | Series B - 10x Banking | Valuation | Nationwide , Oliver Wyman |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in 10x Banking
10x Banking has secured backing from 9 investors, including institutional and angel investors. Prominent investors backing the company include Nationwide, JPMorgan Chase and Nationwide. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Diversified investment management firm and private fund focused on debt, equity, and secondary market investments in multiple sectors
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Founded Year | Domain | Location | |
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Financial services are provided to consumers and corporations worldwide.
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Founded Year | Domain | Location | |
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Pension fund assets are managed for sustainable long-term growth.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by 10x Banking
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - 10x Banking
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
10X Banking Comparisons
Competitors of 10x Banking
10x Banking operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as nCino, ION Group, Tuum, Thought Machine and Backbase, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based API platform for banking operations is provided.
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| domain | founded_year | HQ Location |
Treasury management solutions are provided for financial institutions and banks.
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| domain | founded_year | HQ Location |
Cloud-native API-first core banking platform is provided for banks.
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| domain | founded_year | HQ Location |
Cloud-based platform for core banking is developed via APIs.
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| domain | founded_year | HQ Location |
AI-powered banking platforms are provided for operational growth.
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| domain | founded_year | HQ Location |
Cloud-based core banking solutions are offered to financial institutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about 10x Banking
When was 10x Banking founded?
10x Banking was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is 10x Banking located?
10x Banking is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Who is the current CEO of 10x Banking?
Curt John Hess is the current CEO of 10x Banking.
Is 10x Banking a funded company?
10x Banking is a funded company, having raised a total of $348.89M across 4 funding rounds to date. The company's 1st funding round was a Series B of $65.74M, raised on Sep 15, 2017.
What is the annual revenue of 10x Banking?
Annual revenue of 10x Banking is $27.18M as on Dec 31, 2023.
What does 10x Banking do?
A cloud-native SaaS platform is provided by 10x Banking to power modern banking solutions. Services are focused on retail, SME, corporate, and commercial banking sectors. The meta core technology is designed to overcome legacy system limitations, enabling hyper-personalized products across geographies. Scalability and flexibility are ensured for launching new propositions and reshaping digital offerings. Support is extended to innovative banks, building societies, and mutuals worldwide.
Who are the top competitors of 10x Banking?
10x Banking's top competitors include nCino, Thought Machine and Tuum.
What products or services does 10x Banking offer?
10x Banking offers Meta Core Platform and AI Banking Tools.
Who are 10x Banking's investors?
10x Banking has 9 investors. Key investors include Nationwide, JPMorgan Chase, Nationwide, Westpac, and BlackRock.
What is 10x Banking's valuation?
The valuation of 10x Banking is $741.13M as of Jun 2021.