10x Future Technologies, a London, UK-based financial transformation business, raised £34m in Series A funding.
The round was led by Ping An with participation from global management consulting firm Oliver Wyman.
The company intends to use the funds to further build out its offering and expand its global reach.
Founded in 2016 by former Barclays CEO Antony Jenkins, 10x Future Technologies provides a digital platform that unifies data systems into a lean architecture for financial service providers to to optimize their customer data and interactions.
The company has invested in the development of its proprietary design and data architecture, and is currently building a digital bank for Britain’s Virgin Money for launch in 2018.
The finished platform will put the customer at the centre of all transactions by allowing financial services providers to offer products such as mortgages, credit cards, loans, savings and current accounts that are tailored to customers’ specific needs. The company is already in discussion with a number of other financial services providers about using the platform, as well as with potential customers from outside the current financial services ecosystem.