The Bank Of London extends Series C by $40m

By Oliver Smith on Wednesday 8 February 2023

Digital Banking

Successfully maintaining a flat $1.1bn valuation, despite market turmoil.

The Bank Of London extends Series C by $40m
Image source: Anthony Watson/The Bank Of London.

The Bank of London, which launched a year and a half ago as the UK’s sixth principal clearing bank, has extended its Series C funding round by $40m to now reach $160m.

Its Series C round was first announced in December 2021, when the bank raised $90m at a $1.1bn valuation, today the Bank Of London said it had maintained that valuation with an "oversubscribed" Series C extension.

“The expansion of our Series C at a continued valuation of $1.1bn is a testament to the trust we are building at The Bank of London,” said The Bank Of London’s group CEO and founder Anthony Watson.

“Our investors believe in our vision to reshape banking for the betterment of all, powered by our unique patented technologies and our differentiated banking models.”

The extension was co-led by Mangove Capital Partners and 14W Venture Capital, with follow-on investment from ForgeLight, who previously led the first part of its Series C.

The Bank Of London had a busy 2022 with a host of senior appointments including Tom Wood as its deputy CEO, Gavin Hewitt as group CFO and the creation of hundreds of jobs in Northern Ireland and Charlotte, North Carolina.

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