UK-based forecasting and regulatory compliance startup Planixs has raised £3.5m in a minority investment from BGF.
Through this funding, Planixs will look to expand its global customer base, increase product development and make additional hires across the company.
Founded in 2011, the company helps financial institutions through its analytical, forecasting and modelling software solutions. Lloyds Banking Group, Barclays and Zenith Bank are some of the clients using the technology.
Financial services can access real-time intraday cash, collateral and liquidity management capabilities.
In addition to this, the Realiti solution of Planixs helps firms to comply with global BCBS248 regulatory requirements, which includes stress modelling. The platform is also able to improve risk management processes for the institutions by lowering expensive liquidity buffers.
Other services available include regulatory reporting, dashboard views, data analytics, real-time operations, insight generations and business-focused configurations, among others.
Planixs CEO Neville Roberts said, “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.”
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