UK fintech startup Planixs secures €4M from BGF, aims to grow internationally

UK fintech startup Planixs secures €4M from BGF, aims to grow internationally

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Planixs, a Manchester-based fintech startup helps companies make critical decisions with its business analytics platform. Its platform called Realiti helps companies comply with the BCBS248 global regulatory standards.

Founded in 2011 by Neville Roberts in Manchester, Planixs has raised €4 million funding led by BGF. This investment comes from BGF after it created a record year of investments in the North West in 2018. Notably, the investor has pumped in €93 million funding across 16 deals last year.

Beneficial for companies

Planixs’ solution Realiti uses the startup’s highly scalable business intelligence, optimization and analytics technology platform called Graphite. This platform can work with the legacy systems. It also drives the operational savings, reduces expensive liquidity buffers and improves risk management for large corporates, banks and financial institutions.

Regarding the recent funding round, CEO and founder Neville Roberts at 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,” he added. “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.”

Pinesh Mehta, an investor at BGF said, “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.”

Stay tuned to Silicon Canals for more updates in the tech startup world.

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