Former Barclays chief Antony Jenkins is reportedly weighing a sale of 10x, the core banking startup he founded almost a decade ago.
Sky News understands that Jenkins and the board of 10X have been working with advisers on discussions with potential buyers in recent months.
City sources said that Moelis, the investment bank, had been involved in advising 10X on exploratory talks.
10x last raised $50 million in fresh funding from existing investors Blackstone and JPMorgan Chase in January last year.
At the time, the firm was valued at $500 million. Blue chip clients include Westpac in Australia, JPMorgan Chase in the UK, and Old Mutual in Africa.
One insider told Sky News that the business was expected to become profitable by the end of this year.