A British fintech which counts Customary Life amongst its key shoppers is near finalising one of many trade’s largest funding rounds to this point this yr.
Metropolis sources mentioned this weekend that the brand new capital from CDAM and different backers may complete at the very least £30m.
The funding spherical is anticipated to happen at a post-money valuation of about £160m.
Hyperlayer, which operates a consumer-facing digital pockets referred to as Hyperjar, intends to make use of the brand new funding as progress capital to finance the event of recent partnerships with world banks and asset managers.
The corporate supplies sensible account know-how on current shopper infrastructure, and is claimed to work with plenty of the world’s 10 largest banks – though it has not publicly disclosed their identities.
Its work with Customary Life includes the long run launch of a shopper cash app geared toward folks approaching or in early retirement.
Hyperlayer’s consumer-facing platform sees prospects organise their cash in what the corporate calls “digital jam jars”, enabling them to earn rewards which give them entry to accomplice manufacturers comparable to Asda, Morrisons and Starbucks.
IKEA and the John Lewis Partnership are among the many different service provider companions with which Hyperlayer is working to develop distinctive loyalty-based initiatives for its monetary establishment shoppers.
Based in 2006 by Adam Chamberlain and Scott Davies, CDAM has $1.5bn in property beneath administration and is an skilled investor in monetary companies know-how.
Mr Davies has had a seat on Hyperlayer’s board for a number of years.
Mr Rooney, who was a outstanding Wall Road govt for years, finally serving as Morgan Stanley’s know-how operations, joined the corporate as CEO in 2023.
The brand new capital injection led by CDAM is known to be topic to approval by Hyperlayer’s shareholders.
Hyperlayer declined to touch upon Sunday.
