As so-called neobanks continue to gain more traction in the market with their more modern takes on banking and other financial services, a startup that’s building technology to help incumbent players better compete is announcing a big round of funding.
10x Future Technologies, a London-based fintech that helps larger, established banks build both next-generation services as well as tools to help their older services work more efficiently, has raised $187 million. We understand from sources close to the company that 10x’s valuation with this round is in the range of $700 million.
(The amount raised and valuation also roughly line up with the figures from Sky News, which reported earlier this month that 10x was raising new funding.)
10x will be using the funds both to expand into new geographies like North America, as well as to continue building more technology for its flagship platform. SuperCore, as that platform is called, is an all-in-one…