Armalytix raises £1.3m in a seed follow on round to expand its financial data platform
The financing was backed by senior figures from banking and finance, including former executives from the London Stock Exchange and Barclays.
Armalytix provides an Open Banking platform that helps professional services firms collect and analyse financial data from clients. The software eliminates paper forms by streamlining bank statement verification and source of funds reporting.
Armalytix has secured £1.3m in a seed follow on round to develop new processes and expand its reporting tools into additional industry verticals. Backing comes from a group of family offices and senior banking figures, including former London Stock Exchange and Barclays executives.
The latest capital injection brings the total raised by the company to £2.8m since it was founded in 2019. The platform is designed to replace traditional paper forms and manual data collection with secure, Open Banking powered information sharing for legal, accounting, and financial professionals.
Leadership noted that the funds will help increase the firm's footprint across financial technology and extend its offerings into sectors such as mortgage advisory, wealth management, and gaming.
Use of funds
- 01Continue product development
- 02Expand into international markets
