The FinTech business founded by Antony Jenkins, the former Barclays chief executive, has secured $50mn in a fresh injection of capital from investors.
In brief:
- 10X Banking Technology recently closed its first funding round since 2021 with new money understood to have been provided by existing shareholders in the company.
- 10X was set up by Mr Jenkins in 2016, a year after he was ousted as the Barclays chief, and has since raised hundreds of millions of dollars from investors including BlackRock, JP Morgan and Nationwide.
- Broader market dynamics suggest it is unlikely to have been valuated higher than the £500m-plus valuation at which it secured capital in 2021.
