Record growth for fintech firm Planixs as it expands its international footprint

27 July 2022: Manchester-based fintech company Planixs has reported annual recurring revenue growth of 185% as a result of record customer acquisition and expansion into key international financial markets over the past two years.

Founded in 2011, BGF-backed Planixs partners with global financial institutions including Lloyds Banking Group, LBBW, Nord/LB and Scotiabank to offer Realiti® – a leading cloud-based technology suite that delivers real-time cash, security and liquidity management solutions to the financial services industry.

Realiti® gives companies immediate visibility and insight in real time, so they can optimize cash and liquidity and comply with regulatory requirements. It helps organizations ensure they meet global regulations, including those of the European Banking Authority, the UK PRA and the US Fed. The solution also includes stress testing capabilities, which allow banking firms to use a variety of stress scenarios to understand, monitor and prepare to mitigate any intraday liquidity stress and manage expensive liquidity buffers.

Over the past two years, the company has seen a record 70% growth in customers adopting the Realiti® suite of products, expanding its reach across the UK, Europe and North America with contract owners including Deutsche Bank, AIB, Santander, NatWest, National Bank of Canada and its first non-bank financial institution.

The business secured an initial minority investment of £3.5m from BGF – the UK and Ireland’s most active growth capital investor – in February 2019, which has supported its international expansion plans, as well as accelerated product development and recruitment.

Since BGF’s investment, the business has increased its total headcount by 150% with several key hires including Nick Jepson as Chief Customer Officer, Tim Shallard as Head of Legal and Commercial and Keith Strachan as Corporate Services Lead. Jenny Stockton-Pugh has also been appointed Head of HR to oversee Planixs’ continued global recruitment and employee engagement programme.

The business has also invested in expanding the sales and marketing function in order to realize international expansion goals and achieve significant growth in the DACH region.

Neville Roberts, CEO and founder of Planixs, said: “Over the past two years, the total number of modules purchased by our customers has increased by 135%, demonstrating that we have grown with our customers and met their appetite for increase functionality and improve their own capabilities within their businesses.

“We pride ourselves on working with customers individually and as a collective user group to understand how they use our applications and any additional functionality needed. We collect this feedback and incorporate it into the application roadmap so that many value-added components can be delivered. This customer-centric approach has been key to our success to date and we will continue to invest in our team and develop Realiti® as new regulations are issued and new data types become available, ensuring that our product suite and services continue to exceed the standards of the financial sector.”

Planixs also received global industry recognition for its success and was named RegTech of The Year at the US FinTech Awards 2021, the UK FinTech Awards 2022 and the European FinTech Awards in July 2022.

Roberts added: “We are very proud to receive the three RegTech of the Year awards. Our global client base understands the stringent regulations that banks must adhere to in their respective geographies. Our Realiti® solution provides our clients with real-time insights across all their data to ensure up-to-date regulatory compliance for their cash, collateral and liquidity operations. To be named the leading RegTech in the US, UK and Europe is a great honor and helps us further solidify our position as the number one global RegTech provider.”