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Cloud-based SaaS core bank operating system 10X Banking, raises $50 million in fresh funding as core banking market soars

17 ianuarie 2024

10x Banking, the transformational cloud-native SaaS core bank operating system founded by former Barclays CEO Antony Jenkins, has announced a new round of funding and the appointment of a Chief Revenue Officer, as it looks to capitalize on the significant momentum in the core banking market.

10x Banking has picked up $50 million in fresh funding from existing investors Blackstone and JPMorgan Chase, according to Finextra. The firm last raised $187 million in a Series C round in June 2021. 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.

At the heart of driving 10x’s continued growth is Chief Revenue Officer, Matt Mills, who has joined the company this month from Featurespace as the latest member of 10x’s experienced leadership team.

There has never been a more exciting time for banking transformation and core modernization, as banks across the world embark on this journey.” said Matt Mills – Chief Revenue Officer, 10x Banking.

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. 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.”

„Having created the modern technology platform focused on a seamless customer experience that powered Chase’s entry into the UK retail banking market, 10x is committed to helping banks transform the way they operate in response to a rapidly-evolving financial sector, catalyzed in part by the dominance of digital transactions and consumer demand for greater control and flexibility around the way they manage their money.” the company explains.

„10x’s success in the UK has been built upon through recent expansion into Australia and New Zealand, with more strategic expansions on the horizon as banks actively look to adopt neo-core banking systems to accelerate their digital transformation and thrive in an increasingly competitive battle to win and retain customers.” according to the press release.

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Anders Olofsson – former Head of Payments Finastra

Banking 4.0 – „how was the experience for you”

So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”

Many more interesting quotes in the video below:


In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?