Planixs, a Manchester-based fintech company, has raised a £3.5 million minor equity investment from Business Growth Fund (BGF) — which is one of the UK and Ireland’s most active investor in growing businesses. With this round of funding, Planixs is going to expand its global customer base and accelerate product development and support recruitment. Founded by CEO Neville Roberts, Planixs recently moved its head office to Union House on Albert Square in the center of Manchester.
“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,” said Roberts. “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.”
Launched in 2011, Planixs is partnered with financial giants like Lloyds Banking Group, Barclays and Zenith Bank. Planixs’ offers a cloud-based and on-premise technology solution suite called Realiti that delivers real-time intraday cash, collateral, and liquidity management capabilities to the financial services industry. And Realiti helps companies comply with global BCBS248 regulatory requirements such as stress modeling using Planixs’ highly scalable business intelligence, optimization, and an analytics technology platform called Graphite (legacy system compatible). Plus Realiti also drives operational savings and improves risk management for banks, financial institutions, and large corporations.
“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,” added BGF investor Pinesh Mehta. “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.” And BGF’s Head of Investments in the North, Scotland & Ireland Andy Gregory pointed out that Manchester is becoming a global FinTech hub “in the North West” as a number of the UK’s leading financial services businesses have their back-office payment processing teams based there.