On 21 March 2022, The Apax Digital Fund and Apax Digital Fund II, both of which are investments in Apax Global Alpha’s portfolio, announced an investment in ClearBank, one of the largest next-generation clearing and embedded banking platforms in the UK.
On a look through basis, Apax Global Alpha is expected to invest about €5.4m.
ClearBank is a leading supplier of embedded banking services in the UK and the only next generation payments provider with direct access to all banking payment schemes in the UK (e.g. Faster Payments, BACS, CHAPS), providing over 13m real and virtual bank accounts to businesses and their consumers. As a regulated bank, ClearBank manages transactions end-to-end from order transmission to settlement, liquidity management and clearing. ClearBank works with leading financial brands such as Coinbase and Tide.
The new investment will help accelerate ClearBank’s global expansion of its clearing and embedded banking offering, initially in Europe before moving into North America and Asia Pacific.
APAX : Apax backs ClearBank