OneBanks Strategic Investment Round - Open Banking Shared Infrastructure and Technology

OneBanks

Congratulations to OneBanks on a successful Series A led by Glory Ltd, a global leader in cash technology solutions to the financial and retail industries. The round was supported by top tier existing investors. The Series A funding will support the roll out of OneBanks’ kiosks across the UK following the successful pilots operational in three sites in Scotland, with a further location planned in England later this year. 

OneBanks offers an innovative, low-cost open-banking solution for banks and building accounts to better serve and access their consumers and SMEs. OneBanks’ proprietary technology leverages open banking to enable customers to access a range of everyday banking services provided by their own bank in a secure, user-friendly way. The in-store kiosks play a vital part in enabling financial inclusion and reaching rural communities across the UK. 

Adelpha is proud to have advised on this transaction alongside Jonathan Hughes, fintech investor and incoming Executive Chairman of OneBanks. 

It has been a pleasure to work with the company as they build the leading shared banking infrastructure accessible to all, with the support of Glory Ltd, and their board including Javed Anjum (Glory’s head of Software Strategy & Innovation) who will join the OneBanks Board of Directors, as well as Stephen Jones and David Hensley. 

We would like to take this opportunity to thank Neil Blundell and Charlotte Pitt at Bird&Bird and Tim Bird and the team at Field Fisher for their great effort on the legal side, and Katie Robertson and the whole team at Adelpha for their hard work.

We wish Duncan Cockburn, and all the OneBanks team the very best for the future. 

Please get in touch if you’re a qualified investor and interested to hear more about OneBanks.