EDGE
Get a demo
Log In

ClearBank

FinTech Infrastructure
Segments:
Banking services
?
Product stage:
Growth
?

ClearBank is a British clearing services provider that offers a banking-as-a-service (BaaS) platform for its enterprise customers to build their financial technologies (FinTechs). It provides clearing and agency banking services, including operating accounts, connecting to existing bank accounts, and offering a range of payment services. ClearBank offers its services through a private cloud and links enterprises to its banking services through application programming interfaces (APIs) and its portal. The platform links the four main payment channels in the UK -Faster Payments, BACS, CHAPS, and direct debits.  

Key customers and partnerships

The company noted that of the approximately 5,000 regulated financial institutions in the UK as of September 2020, around 108 were held in ClearBank’s platform, with a further 136 in the process of being onboarded. As of November 2022, ClearBank had around 200 customers including Tide, eToro, and Coinbase, covered about 13 million accounts, and handled around GBP 3 billion (USD 3.6 billion) in assets. 

In September 2020, ClearBank offered its clients the ability to create multi-currency banking accounts by partnering with JP Morgan to gain access to multiple currencies, pricing, and execution through an API connection. ClearBank was also chosen by leading cryptocurrency exchange and custodian Gemini as the clearing bank for its UK banking services. Through a single API integration, ClearBank will provide Gemini with the infrastructure, including dedicated account numbers and sort codes, and access to payment rails. 

ClearBank subsequently partnered with ThetaRay in November 2022 to enhance cloud-native anti-money laundering (AML) monitoring, by leveraging ThetaRay’s proprietary AI intuition AML solution, “SOLAR.”

Funding and financials 

ClearBank raised GBP 175 million (USD 230 million) in funding from Apax Partners, in March 2022,  to invest in expanding its operations to Europe and the US as well as broadening its platform into areas such as cryptocurrency exchanges. 

The company subsequently reported its first monthly profit (on a pre-tax basis) in October 2022, on annual revenues of GBP 45.3 million.

FinTech Infrastructure

FinTech Infrastructure

Key stats
Featured companies
168
Total funding (USD)
40.1 Bn
Total addressable market (USD)
80.8 Bn
Key competitors
 
Loading...
Loading...
Loading...
Loading...
Product Overview
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
Product Metrics
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
Company profile
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...

Recent Updates

Partnerships
Nov 29, 2022
ClearBank partners with ThetaRay to enhance AML monitoring
FinTech Infrastructure
Funding
Mar 30, 2022
Cross River Bank raises USD 620 million in funding; valued at over USD 3 billion
FinTech Infrastructure
Funding
Mar 19, 2022
Clear Bank receives GBP 175 million investment from Apax Partners
FinTech Infrastructure

Company Brief


HQ location:
4th Floor, Prologue Works 25 Marsh St Bristol GBR
Founded year:
2015
Employees:
501-1,000
Total Funding:
USD 627.4 million
Last Funding
USD 230.7 million, Mar 2022

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
arrow
menuarrow
Click here to learn more
Get a demo

By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.