ClearBank has raised £175 million in new equity in an investment round led by Apax Digital, the growth equity arm of Apax. That makes the private equity firm one of three large shareholders – along with long-standing backers CFFI UK Ventures (Barbados) Ltd and PPF Financial Holdings BV, which both also participated in the latest funding round – in the fast-growing wholesale provider of underlying banking and payments services to more than 200 financial institutions.
When it launched in 2017, ClearBank was the first new clearing bank to be authorized by UK regulators in 250 years.
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