Manchester-based fintech startup Planixs provides a business analytics platform that helps companies make critical decisions. Its solution Realiti helps firms to comply with global BCBS248 regulatory requirements, using Planixs’ highly scalable business intelligence, optimisation and analytics technology platform Graphite, which can work with any legacy systems. Realiti also drives operational savings and improves risk management for banks, financial institutions and large corporates, including reducing expensive liquidity buffers. Founded in 2011, the firm has just raised €4 million in a round led by BGF.
“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 CEO and founder Neville 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,” 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.”
The investment comes after BGF experienced a record year of investing in the North West in 2018, providing €93 million in long-term funding across 16 deals.
“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,” said Pinesh Mehta, an investor at BGF.
“Manchester is quickly becoming a global fintech hub in the North West, with some great investments in infrastructure to date,” added Andy Gregory, BGF’s Head of Investments in the North, Scotland & Ireland. “Many of the UK’s leading financial services businesses have their back-office payment processing teams based here and we’re therefore seeing high levels of innovation to help them streamline their processes and manage their systems in a more efficient way. We’re delighted to be part of the UK’s FinTech growth story with our investment in Planixs. BGF invested in one business per week in 2018, and we’re ready to support more ambitious businesses in this industry and in Manchester in 2019.”