Draft:ClearBank
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ClearBank
[edit]| File:Clear.Bank Logo.jpg | |
| Type | Private |
|---|---|
| Industry | Banking Financial Services |
| Founded | 2015 (launched in 2017) |
| Headquarters | London, United Kingdom |
Area served | United Kingdom; Europe |
| Key people | Nick Ogden, Charles McManus, Mark Fairless, Emma Hagan, Tristan Kirchner |
| Services | Payment clearing; banking infrastructure; embedded banking; digital assets |
| Website | www.clear.bank |
ClearBank is a clearing bank and banking infrastructure provider founded in London, England. Founded in 2015 and launched in 2017,[1] the company provides payment clearing and banking services to financial institutions, fintech companies and businesses. ClearBank has been described by multiple publications as the first new UK clearing bank in more than 250 years[2] following its launch in 2017.
The company operates as a business-to-business bank and provides infrastructure used by financial institutions and corporates to access payment systems and deliver banking services. In addition to its UK operations[3], the group serves European markets through ClearBank Europe N.V., headquartered in Amsterdam.
Unlike retail banks, ClearBank does not offer consumer current accounts and instead provides infrastructure used by customers to deliver banking and payment services to their own end users[4].
As of 2025, the company reported customer deposits of £17.8 billion.
History
[edit]ClearBank was founded in 2015 by entrepreneurs including Nick Ogden and Charles McManus and launched in 2017 as a cloud-native clearing bank [5]providing direct access to UK payment systems and banking infrastructure services.
The company received authorisation as a bank from UK regulators before launching its clearing services and positioned itself as an alternative provider of banking infrastructure to incumbent institutions.
In February 2019, ClearBank was awarded £60 million from the Capability and Innovation Fund, a programme created to support competition in UK banking following the financial crisis.
In March 2022, the company raised £175 million in funding led by Apax Partners. According to TechCrunch, the funding was intended to support expansion into Europe and the United States and to develop new products and services.
For the year ended 31 December 2023, ClearBank reported its first full year of profitability,[6] recording a pre-tax profit of £18.4 million compared with a loss of £7.1 million in 2022.
In July 2024, ClearBank Europe N.V. was granted a banking licence by De Nederlandsche Bank (DNB), allowing the group to expand regulated banking services across the European Union.
In February 2026, ClearBank announced the relocation of its London headquarters to Broadgate Tower.
Regulation
[edit]ClearBank Limited is authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom.
ClearBank Europe N.V. is authorised as a credit institution by the European Central Bank and supervised by De Nederlandsche Bank.
Digital Assets
[edit]In April 2026, ClearBank Europe received confirmation from the Dutch Authority for the Financial Markets (AFM) permitting it to provide crypto-asset services [7]under the European Union's Markets in Crypto-Assets Regulation (MiCA) framework.
In May 2026, the company announced the launch of infrastructure intended to support payments and liquidity flows between traditional financial systems and digital asset platforms.
Funding and ownership
[edit]In March 2022, ClearBank announced a £175 million funding[3] round led by Apax Partners.
Financial performance
[edit]For FY2023, ClearBank reported total income of £111.3 million and a pre-tax profit of £18.4 million.
According to reporting by City A.M., [8]the company's UK business remained profitable in FY2024, recording a pre-tax profit of £9.9 million, fee income of £53.3 million and customer deposits of £10.8 billion.
In 2025, deposits increased to £17.8 billion, while fee income reached £60.9 million and interest income totalled £71 million.
Reception
[edit]Coverage of ClearBank has frequently focused on its role as a provider of banking and payments infrastructure for financial institutions and financial technology companies. TechCrunch [3]described the company as a provider of banking infrastructure, or "banking rails", used by fintech and financial services firms.
Recognition
[edit]ClearBank has been included in several business and technology rankings, including CNBC's World's Top Fintech Companies, Deloitte's Technology Fast 50, the Financial Times FT1000 list of Europe's fastest-growing companies and Sifted's rankings of high-growth technology businesses.
See also
[edit]References
[edit]- ↑ Dunkley, Emma (28 February 2017). "Worldpay founder to shake up UK clearing bank market". Financial Times. Retrieved 2026-08-27.
- ↑ Dunkley, Emma (13 January 2017). "Worldpay founder to launch challenger bank to focus on fintech". Financial Times.
{{cite web}}: CS1 maint: url-status (link) - 1 2 3 Lunden, Ingrid (2022-03-18). "ClearBank, a UK banking rails provider, raises $230M from Apax to expand into Europe and the US". TechCrunch. Retrieved 2026-08-27.
- ↑ Voicila, Ana (2025-09-30). "ClearBank's Fairless and Hagan on the bank's second act". Euromoney. Retrieved 2026-09-07.
- ↑ Clarke, Gina (2021-03-04). "Behind the Idea: ClearBank". The Fintech Times. Retrieved 2026-08-27.
- ↑ "ClearBank Goes from £7.1M Loss to £18.4M Profit in One Year". Financial and Business News | Finance Magnates. 2024-04-04. Retrieved 2026-08-27.
- ↑ "ClearBank Europe Gains CASP Status in the Netherlands". Connecting the dots in FinTech... 2026-04-10. Retrieved 2026-09-07.
- ↑ Mucklejohn, Lars (2024-09-30). "Clearbank eyes flurry of new products amid 'huge demand' for fintech". City AM. Retrieved 2026-08-27.
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