10x Future Technologies set for £500 million valuation on projected £130 million raise
10x Future technologies, the banking technology firm set up by former Barclays chief Antony Jenkins, is close to sealing a £130 million funding round that will value the firm at £500 million.
The capital-raise will be the first for 10x since a £32m equity injection in the first half of 2019, which included a £15 million investment from the UK’s Nationwide Building Society. Westpac is also understoood to have taken a minority stake in the business in November 2019.
Alongside BlackRock, the Canada Pension Plan Investment Board, one of the country’s biggest retirement schemes, is also injecting capital as part of the £130 million round.
Jenkins is expected to hold a stake of approximately 40% in the company, worth more than £200m, after the fundraising.