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Fintech

  • Revolut granted extension to file annual results for second year in a row

    BANKING

    The fintech's results had been due in September, nine months after the end of its financial year.

  • Funding Circle chief Lisa Jacobs: Lending through a crisis – and looking toward the US

    INTerview

    It’s not been a quiet few years for small business lenders. When covid struck in 2020, a host of non-banks found themselves thrust into the public consciousness alongside the big High Street lenders as small companies scrambled for a cash lifeline through lockdowns.  The reception was a largely positive one; some even took on something [...]

  • Zopa raises £75m debt as fintech bank eyes public markets debut

    fintech

    Fintech lender Zopa Bank has raised a fresh £75m round of debt financing today to boost its coffers ahead of a much-anticipated float on the public markets. The London-based bank, which has been open about its ambitions for an IPO in recent months, said today it had raised £75m of tier-two capital through a ten-year [...]

  • Funding Circle slides to loss as weak economy and end of Covid loans hit lending

    September 7, 2023

    Funding Circle swung to a loss in the first half of the year as a sluggish UK economy and the winding down of government-backed Covid loans continued to drag on the small business lender’s bottom line. The London-listed fintech posted a pre-tax loss of £16.6m in the six months to June, against a profit of [...]

  • SVB collapse and rising rates help fintech Clearbank double deposits in six months

    September 6, 2023

    Clearbank has doubled its deposit base in six months as it benefited from rising interest rates and attracted new clients in the wake of Silicon Valley Bank's (SVB) collapse.

  • Klarna global boss doubles down on UK investment despite regulation uncertainty

    September 5, 2023

    Buy-now pay-later giant Klarna will double down on a UK investment drive despite lingering uncertainty around a clampdown on the sector by regulators this year, its global chief has pledged. Sebastian Siemiatkowski, founder and chief of the Swedish fintech, told City A.M. that the UK remained a key market for the firm despite a push [...]

  • Wise breached Russia sanctions with £250 withdrawal and accused of having ‘inappropriate’ controls

    August 31, 2023

    London fintech firm Wise has been accused of “inappropriate” controls by the government regulator today after allowing a sanctioned Russian customer to withdraw cash from a business account. Wise, which allows businesses and individuals to open current accounts and transfer money overseas, allowed the company of a so-called “Designated Person” to successfully withdraw £250 in [...]

  • Klarna closes losses and touches monthly profit as cost-cutting drive bears fruit

    August 31, 2023

    Buy-now pay-later giant Klarna has slashed its losses and touched profitability for the first time this year after rolling out a hefty cost-cutting programme and driving down the amount of customers defaulting on payments. In its half year report today, Klarna revealed it had closed its losses to SEK 2.115bn (£153m) from SEK 6.37bn last [...]

  • Metro Bank founder launches fintech accelerator to get firms into ‘hyper-growth’

    August 28, 2023

    The founder and former chair of Metro Bank and Atom Bank has launched a business designed to support the next generation of fintech startups.

  • Lendinvest hit by data breach with customer information exposed

    August 25, 2023

    Lendinvest has said it was hit by a data breach yesterday, with certain customer information made available to outside parties.  The London-listed property fintech said an investigation into the incident is ongoing and can not yet confirm the precise number of individuals impacted or how long the information was in the public realm for. It [...]

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