10x Banking secures £40 million from AshGrove Capital

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โดย Retail Banker International·GB·Read original
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10x Banking, the core banking platform provider founded by former Barclays chief Antony Jenkins, has raised £40 million, or $53.9 million, in new funding from AshGrove Capital. The capital will support further growth in the company's sales and market-facing teams. 10x Banking reported that over the past year it moved into positive EBITDA, exceeded 10 million active accounts, signed more than 10 additional financial institution clients, and lifted annual recurring revenue by over 30%. AshGrove Capital co-founder and managing partner Phil Fretwell said the company has built one of the most compelling technology platforms in core banking and is well positioned to benefit from banks replacing legacy systems with more flexible, real-time, and AI-ready infrastructure. Founder and CEO Antony Jenkins added that the investment is a strong endorsement of the platform's progress and will help meet growing global demand from banks.

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