The Bank of London raises $40m, bringing total valuation to $1.1b
By Gloria Methri
The Bank of London announced that it has raised $40 million in an extension to Series C investment, bringing the company’s total raise to $160 million. This fresh funding follows The Bank of London’s $90 million Series C round, which was completed in the fourth quarter of 2021, demonstrating its investor interest and growth trajectory.
Anthony Watson, Group Chief Executive & Founder of The Bank of London said, “The expansion of our Series C at a continued valuation of $1.1 billion is a testament to the trust we are building at The Bank of London. Our investors believe in our vision to reshape banking for the betterment of all, powered by our unique patented technologies and our differentiated banking models.”
“The Bank of London is finally bringing true end-to-end SaaS to the financial services sector, powering other banks, FinTechs, and non-financial services firms to build and launch financial products with a single, secure, and modern SaaS platform, in full end-to-end regulatory compliance, powered by our universal bank license,” said Mark Tluszcz, Managing Partner of Mangrove Capital Partners.
“London is the world’s undisputed FinTech capital – commanding more FinTech investment than any other city on the planet – and The Bank of London, with its game-changing patented technologies, is by far most transformative FinTech in the city,” said Alex Zubillaga, Managing Partner of 14W Venture Capital.
He added, “The FinTech industry has simply not kept pace with consumer trends and the need for tech innovation, particularly in the B2B and wholesale space, creating significant demand for a developer-friendly wholesale clearing and transaction bank built on modern APIs, intuitive software and patented innovations”.
IBSi Daily News Analysis
March 01, 2024
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