Home » Rumoured London fintech unicorn doubles revenues in 2020

Rumoured London fintech unicorn doubles revenues in 2020

28th May 21 1:37 pm

Quantexa, the data and analytics software company pioneering Contextual Decision Intelligence (CDI), have announced it more than doubled revenues during fiscal year 2020, with 67% coming from new client wins. Beyond the Financial Services market, where Quantexa is a well-established leader and continues to see exponential growth, it also showed spectacular growth of over 440% in vertical industries including Government.

In the midst of a pandemic, London-based Quantexa raised $65 million in Series C funding in July 2020, with new and existing investors including Evolution Equity Partners, British Patient Capital and ABN AMRO.

Clients continue to show a strong demand for Quantexa’s ground breaking CDI platform, as the company added thousands of users to its innovative user community. Quantexa CDI now supports multiple applications with established customers, including HSBC,  Standard Chartered Bank and Danske Bank.

Quantexa saw Anti-Money Laundering sales rise by over 80%, as well as over 280% growth outside of its core Financial Crime business. Today, Quantexa’s technology helps seven out of the Top 10 banks in the UK and Australia and has clients across Europe, North America and Asia. These clients use Quantexa to manage and connect internal and external data sources into an accurate single view, and then be effectively applied across use cases spanning the customer lifecycle, such as prospecting, continuous KYC, risk management, financial crime and fraud detection, as well as investigations. Quantexa’s CDI platform is also being increasingly used for a new breed of strategic contextual Master Data Management (MDM), with spectacular results.

Global expansion and strengthened board

Quantexa now serves over 70 countries, with its newest APAC regional offices now open in Melbourne, Australia, and Singapore. To support this expansion, Quantexa, which started in 2016 with just six founding colleagues, has increased its workforce by 18% in the last year to over 300 employees worldwide. In addition, its partner ecosystem continues to grow with key global alliances announced with Accenture and Deloitte.

Quantexa recently appointed HSBC Bank plc and HSBC Europe CEO Colin Bell, to its board, as well as making several key advisory appointments including tech and industry heavy weights Annabelle Bexiga, Simon Collins and Paola Bergamaschi Broyd.

Vishal Marria, CEO of Quantexa, said “Quantexa continues its journey to become the global leader in Contextual Decision Intelligence. This has been a year of major growth with continuing support from our global clients and alliances. Perhaps most pleasing is the significant expansion into new industries and markets amid a global pandemic. We will continue to develop as the data and analytics provider of choice for enterprises in the financial sector and organisations beyond who seek to utilise context in making their data meaningful so they can more accurately and efficiently make trusted operational decisions.”

Quantexa was recognized as one of the UK’s fastest-growing technology companies in the Sunday Times Tech Track and ranked in the top 30 for the Telegraph’s Tech Hot 100 List 2020.

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