Apax Digital led a £175m growth equity investment in ClearBank to accelerate international expansion and broaden its product range.
"ClearBank is the first proven and fully regulated cloud-native clearing bank in the UK for over 250 years. Over the last five years we have demonstrated the success of our business model and through our work with leading financial service providers, helped to both unlock their potential and bring about positive and meaningful change for UK businesses and consumers."
The funding round was led by Tom Brudenell-Bruce to finance growth in Europe and North America.
"We are delighted to have secured such a significant degree of funding to finance the continued global expansion of SimplyPayMe. It is the result of hard work and commercial progress from the Team over the last two years, and we’re immensely proud of the dedication and effort that all our team members have shown to achieve this end."
The pre-seed round was backed by angel investors and will support recruitment and growth.
"Our mission is to enable large organisations to access all their data around the world wherever and whenever they want, fully compliant with the mountains of conflicting global rules."
LDC has taken a significant minority stake in the managed service provider to support nationwide expansion.
"Working with a leading investor that’s right on our doorstep in the North East was really important to us. LDC has an extensive history of supporting businesses just like ours to grow."
Octopus Ventures led the round as Contingent looks to scale its supply chain risk and transparency software.
"There is an ever-increasing amount of focus on risk management within supply chains and Contingent provides us with a platform to capture the key areas of risk. As we put more of a spotlight on ESG, the team at Contingent is continuously improving the platform, its features and coverage, which supports us as we continue to grow as a business,"
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