LONDON and NEW YORK, February 8th 2023 – The Bank of London, the next-generation technology company and the world’s first purpose-built global clearing, agency, and transaction bank, today announced it has raised $40M, in an extension to its Series C funding, bringing the company’s total raise to $160M. This funding round follows The Bank of London’s $90M Series C round, which completed in the fourth quarter of 2021, demonstrating the company’s significant investor interest and growth trajectory.
“With the Bank of England’s Prudential Regulation Authority lifting the mobilisation restrictions to our licence, The Bank of London is now officially the 6th principal clearing bank of the United Kingdom and only the second to launch in 250 years” said Anthony Watson, Group Chief Executive & Founder of The Bank of London. He continued; “The expansion of our Series C at a continued valuation of $1.1bn 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 licence,” Mark Tluszcz, Managing Partner of Mangrove Capital Partners, Investor and Board Member of The Bank of London.
“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 London” said Alex Zubillaga, Managing Partner of 14W Venture Capital, Investor and Board Member of The Bank of London.
He continued “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”.