High growth FinTech company Planixs, which works with global financial institutions such as Lloyds Banking Group, Barclays and Zenith Bank, has secured £3.5m funding from BGF.
The company will use the minority equity investment to expand its global customer base, accelerate product development and support recruitment across the business.
Led by CEO and Founder Neville Roberts, the business recently moved its head office to Union House on Albert Square in the city centre.
Neville Roberts, CEO of Planixs, said: “Planixs has experienced significant growth in a relatively short period due to the team’s commitment to staying at the forefront of technology, simplifying regulatory compliance, driving liquidity cost benefit and delivering against the complexities of legacy systems that continue to permeate the financial system.
“I am hugely proud of what the business and the team has achieved to date and delighted to drive our growth agenda forward with the backing of BGF and its network.
“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.”
The investment comes after BGF experienced a record year of investing in the North West in 2018, providing £80m in long-term funding across 16 deals.
New investments in 2018 included web hosting company Miss Group, digital solutions manufacturer Evoke Creative and image mapping business Gaist.
Pinesh Mehta, an investor at BGF, added: “Planixs has built the market-leading FinTech solution for its rapidly-growing client base, delivering big data at scale and taking advantage of opportunities opening up due to important regulatory drivers.
“We’re delighted to be partnering with a strong, experienced management team, supporting them to deliver their world-class solutions and technology to a global market.”
