10x Banking, the UK-based cloud-native core banking platform founded by former Barclays CEO Antony Jenkins, has raised £40 million in growth funding from AshGrove Capital as it looks to expand its commercial operations following a sustained run of profitability. The investment comes on the back of strong momentum: the company has achieved EBITDA profitability over the past year while surpassing 10 million live accounts, onboarding more than 10 financial institutions, and growing annual recurring revenue by more than 30%. The capital will go toward strengthening 10x Banking’s sales and go-to-market capabilities as it targets further growth in global banking markets, helping financial institutions replace legacy core banking infrastructure with real-time, AI-ready technology. Its platform is already used by major banks including Westpac and Chase UK. 

10x Banking Secures £40m Growth Investment from AshGrove Capital