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British Patient Capital invests in Quantexa, as part of $64.7 million (£51.2m) Series C funding

Press release 23 July 2020

  • British Patient Capital invested in this funding round led by Evolution Equity Partners and alongside portfolio manager Dawn Capital

  • Deal is first direct investment by British Patient Capital as part of a long-term co-investment strategy

British Patient Capital announces its participation in Quantexa’s series C funding round as Quantexa announces the close of the round at $64.7 million (£51.2m).

The deal is the first direct investment by British Patient Capital in a company as part of a long-term co-investment strategy that identifies and supports high-potential, later-stage UK companies in its underlying portfolio. In the case of Quantexa, British Patient Capital had a prior exposure via its commitment to Dawn Capital’s third fund.

The round was led by Evolution Equity Partners, with participation from existing investors AlbionVC, HSBC, and Dawn Capital. In addition to British Patient Capital, ABN AMRO Ventures joined as new investors alongside previous investor Accenture Ventures.

Quantexa, a global data and analytics software company, connects billions of data points into a single contextual view to enable organisations to make better decisions. Its Contextual Decision Intelligence platform is used to detect financial crime, uncover risk, spot fraud and find new opportunities across banking, insurance, as well as other enterprises. Organisations including HSBC and Standard Chartered Bank use the Quantexa platform to make faster and more accurate business decisions across vast volumes of data.

Quantexa will use the capital to enable further growth, including planned expansion into North America, Asia Pacific and Europe as well as the deployment of its technology into new sectors while developing more applications for its core markets.

Our participation in Quantexa’s series C funding round, marks an important milestone in British Patient Capital’s development. This first British Patient Capital direct investment alongside Dawn Capital, one of our fund managers, is a significant step forward to achieving our long-term vision for more home-grown and fully-funded high growth companies to fulfil their potential to be players on the global stage.

We have followed Quantexa’s development closely and given its current client base and growth potential, see a compelling investment opportunity. We are extremely pleased to participate in the funding round and look forward to working with the management team.

- Catherine Lewis La Torre CEO British Patient Capital
We are thrilled that British Patient Capital will be joining us on the next stage of our growth journey. The investment team was able to act quickly and decisively. In addition to growth capital, British Patient Capital’s extensive network and resources will be significant in supporting our plans to expand into new markets. - Vishal Marria CEO, Quantexa

Further Information

Notes to editors

About British Patient Capital

British Patient Capital is the trading name of British Patient Capital Limited, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s commercial arm.

Its mission is to enable long-term investment in innovative firms led by ambitious entrepreneurs who want to build large scale businesses. Launched in June 2018, British Patient Capital has £2.5bn to invest over 10 years in venture and venture growth capital to support high growth potential innovative UK businesses in accessing the long-term financing they require to scale up. Find out more at britishpatientcapital.co.uk.

British Business Bank plc and its principal operating subsidiaries are not banking institutions and do not operate as such. Neither British Business Bank nor its principal operating subsidiaries are authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.

British Patient Capital makes commitments and invests on its own behalf and on behalf of third-party investors whose investments British Patient Capital manages.

The investment from British Patient Capital into Quantexa Limited does not amount to any endorsement or warranty from British Patient Capital, the British Business Bank PLC, or the government of the UK.

About Quantexa

Quantexa is a contextual decision intelligence software company that empowers organisations to drive better decisions from their data. Using the latest advancements in big data and AI, Quantexa’s platform uncovers hidden risk and new opportunities by providing a contextual view of internal and external data in a single place. It solves major challenges across financial crime, customer intelligence, credit risk, fraud and throughout the customer lifecycle.

The Quantexa platform enhances performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has over 250 employees and thousands of users working with billions of transactions and data points across the world. It has offices in London, New York, Boston, Belgium, Toronto, Singapore, Melbourne and Sydney.

For more information, visit quantexa.com or follow us on LinkedIn.

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