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10x Banking raises $45m to fuel expansion efforts

January 20, 2024

Funding Boost: Core banking solution provider 10x Banking secures $45 million in a funding round.
Investors: BlackRock and JP Morgan Chase lead the funding, with JP Morgan previously utilizing 10x’s Software-as-a-Service (SaaS) core operating system.
Previous Funding: This marks 10x’s first funding round since its Series C in June 2021, where it raised $187 million.
Expansion: The 2021 funds enabled 10x’s expansion to the Asia Pacific (APAC) region, and the current funding will support further strategic expansions.
Strategic Hires: Matt Mills joins as Chief Revenue Officer (CRO), and Okan Ozaltin was appointed Chief Product Officer (CPO) in August.
Company Background: Founded in 2016 in the UK by former Barclays CEO Antony Jenkins, 10x provides core banking software for retail and small businesses through its modular SuperCore platform.