10x Banking
Financials
Estimates*
USD | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
---|---|---|---|---|---|---|
Revenues | 4.4m | 26.4m | 17.9m | 69.2m | 72.1m | 39.6m |
% growth | - | 500 % | (32 %) | 287 % | 4 % | (45 %) |
Profit | <1m | (12.3m) | (21.4m) | (3.0m) | (32.8m) | (52.8m) |
% profit margin | 15 % | (46 %) | (120 %) | (4 %) | (45 %) | (133 %) |
Date | Investors | Amount | Round |
---|---|---|---|
- | N/A | - | |
* | £34.0m | Series A | |
£15.0m | Series B | ||
$187m Valuation: $700m 9.7x EV/LTM Revenues | Series C | ||
* | $45.0m Valuation: $700m | Late VC | |
Total Funding | €270m |
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Recent News about 10x Banking
Edit10x Banking is a fintech startup that provides a core banking solution for financial institutions. Their primary offering is a cloud-native platform called SuperCore, which is designed to streamline banking operations and enhance customer experiences. The company's primary market is the banking industry, with a focus on tier 1 banks such as Chase in the UK and Westpac in Australia.
10x Banking's business model revolves around managing the core banking infrastructure for its clients. This allows banks to focus on creating personalized customer experiences and innovating at a faster pace. The company's platform enables banks to deliver next-generation financial services quickly and cost-effectively, opening up new business opportunities and enhancing their competitive edge.
SuperCore, the company's flagship product, offers a comprehensive suite of features that cover product development, operations, security, compliance, and customer service. It provides a single, real-time view of every customer relationship, enabling banks to build, test, and launch products swiftly. The platform is designed to be user-friendly, with tools that require "clicks not code."
10x Banking operates on a fully managed service model, running the core components needed for a digital banking proposition in partnership with its clients. This approach allows banks to reinvest more margin into improving the customer experience.
In summary, 10x Banking is a fintech company that provides a core banking solution, enabling banks to innovate faster, improve customer experiences, and compete more effectively in the market.
Keywords: Fintech, Core Banking Solution, Customer Experience, Innovation, SuperCore, Cloud-Native Platform, Digital Banking, Managed Service, Tier 1 Banks, Competitive Edge.