Planixs receives £3.5m funding for better banking tech plans
UK-based fintech Planixs has secured an initial £3.5 million minority equity investment from BGF.
Manchester skyline, home of Planixs
The company will use the funding for product development and recruitment.
Founded in 2011, Manchester-based Planixs provides financial institutions with Realiti, a cloud-based and on-premise solution suite delivering real-time intraday cash, collateral and liquidity management capabilities. According to Planixs, it works with Lloyds Banking Group, Barclays and Zenith Bank.
Planixs CEO and founder, Neville Roberts, says: “There is much more we want to achieve, particularly in terms of innovation and international expansion, and the move from angel investment to the support of a long-term investor in BGF is an important vote of confidence and enabler in those plans.”
Realiti helps firms to comply with global BCBS248 regulatory requirements including stress modelling (incorporating UK PRA, FED and European Banking Authority regulations), using Planixs’ business intelligence, optimisation and analytics technology platform Graphite.
Realiti also aims to drive operational savings and improve risk management for banks, financial institutions and corporates including reducing expensive liquidity buffers.
The investment comes after BGF experienced a record year of investing in the North West of England in 2018, providing £80 million in long-term funding across 16 deals.
