ClearBank Valuation, Funding & Investors
ClearBank is valued at $22M as of January 2016.
Last ClearBank valuation
$22M
Series A · Jan 2016
Last ClearBank funding round
$230M
Undisclosed stage · Mar 2022
Cumulative funding ClearBank raised
$516M
across 4 funding rounds
Key investors in ClearBank
PPF Group
CFFI Ventures
Apax Digital
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John RisleyNorthern Private Capital (NPC)
About ClearBank
ClearBank is a Bristol-headquartered UK clearing bank providing real-time payment rails access via BACS, CHAPS, and Faster Payments. Launched in 2017, it holds a full banking license and offers API-driven account services, liquidity tools, and fraud detection for fintechs like Revolut and Starling Bank. ClearBank processes billions in transactions monthly without owning customer deposits.
Founded
2015
HQ
BristolWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services
Valuation
$22M (Jan 2016)
ClearBank Valuation
ClearBank is currently valued at $22M, based on its Series A in January 2016.
The $8M round was led by PPF Group.
ClearBank valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2016 | Series A | $22M |
ClearBank Funding History
ClearBank has raised a total of $516M across 4 funding rounds.
ClearBank's first fundraising round was a $8M Series A in January 2016. The most recent completed round was a $230M undisclosed-stage round in March 2022.
ClearBank funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2022 | Undisclosed stage | Apax Digital (lead); PPF Group; CFFI Ventures | $230M | - | ClearBank is the UK's largest next-generation clearing and embedded banking platform, providing cloud-native API-based banking infrastructure to over 200 financial institutions and fintechs including Tide, Coinbase, Chip, and OakNorth Bank, supporting 13 million bank accounts and £3 billion in customer balances as of the March 2022 funding announcement. The company launched in 2017, received £85 million in grants from the UK Banking Competition Remedies fund, and was recognized as the fastest-growing tech company in Deloitte’s 2021 UK Technology Fast 50. On March 18, 2022, ClearBank raised £175 million ($230 million) in a growth equity round led by Apax Digital, with participation from existing investors CFFI UK Ventures and PPF Financial Holdings (PPF Group), bringing total funding to approximately $627 million. The investment, subject to PRA and FCA approval, aims to accelerate ClearBank’s international expansion starting with Europe (via a Dutch banking license application), followed by North America and Asia Pacific, and to enhance products like SEPA access, multi-currency accounts, and FX services to support customer scaling. CEO Charles McManus highlighted revenue growth since 2017 as proof of momentum in transforming access to banking services. Apax Digital partners noted ClearBank's scalable platform and leadership in embedded banking infrastructure for fintechs and non-financial brands. Post-round, ClearBank achieved profitability in 2022 with income climbing to over £45 million and nearly tripling year-over-year to £58 million, reflecting strong client pipeline and deposit base growth amid international preparations. |
| Jun 2019 | Undisclosed stage | PPF Group; Northern Private Capital (NPC); John Risley | $248M | - | ClearBank is a UK-based fintech providing embedded banking services and cloud-based payments technology for SMEs and financial partners. The company operates a licensed banking platform that enables partners to offer banking products and real-time payments capabilities through APIs. By 2019, ClearBank had partnered with major clients including Tide, OakNorth, Contis, and Prepay Solutions, and won £60 million from the RBS Alternative Remedies Package to serve UK SMEs as an alternative to traditional banks. In 2019, ClearBank reported revenue of £5.3 million, representing 563% growth from £0.8 million in 2018. The company reported a loss after tax of £34.0 million for 2019 as it continued substantial investment in technology assets (£11.0 million) and expanded its team to 261 employees to support growing customer demand. Total shareholder investment reached £113 million by the end of 2019, and customer deposits held at the Bank of England grew significantly to £526.6 million, demonstrating the scalability and trust in its platform as it served approximately 5% of the UK SME market through its partnership with Tide. |
| Feb 2017 | Undisclosed stage | PPF Group; CFFI Ventures | $31M | - | ClearBank is a UK-based next-generation clearing and embedded banking platform launched in 2017, the first new clearing bank in over 250 years with direct access to UK payment schemes. It provides embedded banking services including bank accounts with FSCS deposit protection, FX, and multi-currency accounts via a single API cloud-native platform. In February 2017, ClearBank secured an initial investment of £25 million from PPF Group and CFFI Ventures, plus funding from the founding management team, with all team members participating in a share programme. The 2017 round supported ClearBank's early operations and growth as a regulated bank managing end-to-end transactions from order transmission to settlement and liquidity. PPF Group included ClearBank as an associate in its 2017 annual report under PPF Financial Holdings' financial sector investments, though noting it had insignificant value. ClearBank demonstrated rapid growth post-2017, serving over 200 financial institutions and fintechs like Tide, Coinbase, and OakNorth by 2022, powering 13 million accounts and billions in balances. It received £85 million in grants from the Banking and Competition Remedies fund and was recognized as the UK's fastest-growing tech company in Deloitte’s 2021 Technology Fast 50. A later 2022 Growth Equity round of £175 million ($229-230 million) led by Apax Digital with participation from CFFI Ventures and PPF Group fueled global expansion into Europe, North America, and Asia Pacific, bringing total funding to around $627 million. |
| Jan 2016 | Series A | PPF Group (lead) | $8M | $22M | ClearBank raised $7.6 million in a Series Unknown funding round in January 2016 led by PPF Group. PPF Group acted as the lead investor and co-founder in this early-stage investment. The round supported ClearBank's entry as the first new clearing bank in the UK in 250 years, focusing on cloud-based banking services for fintechs and payment providers. ClearBank, founded in 2015, provides real-time payment clearance and embedded banking infrastructure. The company launched operations in 2017 after receiving its banking license. PPF Group, an international investment firm with focus on banking and fintech, backed ClearBank alongside its founding management team. Subsequent rounds included $33 million in February 2017 and larger investments like $255 million in June 2019, building on the initial PPF-led funding. |
Who has invested in ClearBank?
5 investors have backed ClearBank across its funding rounds, including PPF Group, CFFI Ventures, Apax Digital, John Risley and Northern Private Capital (NPC).
Lead investors include Apax Digital and PPF Group.
ClearBank Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Prague | 4 | Lead | Jan 2016 | |
 Bridgetown | 2 | Participant | Feb 2017 | |
 Toronto | 1 | Participant | Jun 2019 | |
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Start Free TrialClearBank Competitors
ClearBank competitors include listed companies like NamSys and Prelude, and private ones like Fathom Protocol, Merchantrade, Verestro and ZTL.
ClearBank Public Comps
ClearBank is still privately-owned, but its public comps include NamSys, Spotlight Group, Prelude, Norwegian Block Exchange, Crunchfish, M2M Group, Pelican AI, Tick Trading Software, FingerMotion and AlJazira Mawten.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $6M | $2M | 2.9x | - | 7.3x | - | |||
| $11M | $2M | 1.9x | - | 9.5x | - | |||
| $6M | $584K | 4.1x | - | 43.4x | - | |||
| $2M | ($1M) | 9.0x | - | (14.2x) | - | |||
| $72K | ($2M) | 223.1x | 212.5x | (8.6x) | (9.1x) | |||
| - | - | - | - | - | - | |||
| $9M | $250K | 1.5x | - | 56.4x | - | |||
| $11M | $4M | 0.8x | - | 2.2x | - | |||
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Common questions about ClearBank
| When was ClearBank founded? | ClearBank was founded in 2015. |
| Where is ClearBank headquartered? | ClearBank is headquartered in Bristol, United Kingdom. |
| Is ClearBank publicly listed? | No, ClearBank is a private, VC-backed company. |
| What is ClearBank's valuation? | ClearBank was last valued at $22M in its Series A in January 2016. |
| How much funding has ClearBank raised? | ClearBank has raised $516M across 4 funding rounds. |
| What was ClearBank's last funding round? | ClearBank's last funding round was a $230M undisclosed-stage round in March 2022, led by Apax Digital. |
| Who are ClearBank's investors? | ClearBank's investors include PPF Group, CFFI Ventures, Northern Private Capital (NPC), John Risley and Apax Digital. |
| Which companies are comparable to ClearBank? | Companies comparable to ClearBank include NamSys, Fathom Protocol, Merchantrade, Verestro, ZTL and Prelude. |
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