/retail banking

News and resources on retail banking, consumer finance and reinventing customer experience in finance.

10x opens exploratory talks over possible sale

Former Barclays chief Antony Jenkins is reportedly weighing a sale of 10x, the core banking startup he founded almost a decade ago.

  7 Be the first to comment

10x opens exploratory talks over possible sale

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

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.

Sponsored [Webinar] Solving procurement challenges with Embedded Payments

Comments: (0)

[Webinar] Solving procurement challenges with Embedded PaymentsFinextra Promoted[Webinar] Solving procurement challenges with Embedded Payments