Exclusive: UK fintech firms raise $5.7bn in record-breaking year July 12, 2021 UK fintech firms raised $5.7bn (£4.1bn) in the first six months of the year alone, smashing investment records for the booming sector. The bumper figure outstrips the total investment secured in the whole of 2020 and is more than a quarter higher than the previous annual record of $4.6bn set in 2019. The record-breaking cash [...]
Klarna snaps up London ecommerce tech startup Hero July 11, 2021 Klarna has acquired London-based ecommerce tech startup Hero in a deal worth a reported $160m (£115m). Hero, which was founded in 2015, offers virtual shopping services to retailers and counts Harvey Nichols, Levi, Nike and JD Sports among its clients. Klarna said it will introduce Hero to its 250,000 retail partners, allowing them to access [...]
Exclusive: Rising fintech star and former PayPal tech lead on his new payments venture July 8, 2021 Wise £8bn launch on the London Stock Exchange yesterday underpins how the capital’s fintech scene is booming, with a clear investor appetite for payment platforms such as Wise. Another fintech company in this space that has flourished in the last twelve months is Osu, an instant payments app that was created specifically for the self-employed [...]
Dozens of US states take Google to court over Play Store ‘monopoly’ July 8, 2021 Dozens of U.S. states are suing Google, saying it used unfair practices to maintain a monopoly for its app store on Android phones. Watch the full video report.
LSE’s biggest tech IPO ever: Blindfolded Wise begins £8bn public era July 7, 2021 The positive start to trading for fintech giant Wise, going public this morning, means the payments firm has become London’s largest ever tech listing. The firm saw its valuation swell to £8bn, marking a major boost for the capital’s tech scene. It’s a big step up from the £5bn price tag attached to the company [...]
Wise valued at £8bn in London’s biggest ever tech float July 7, 2021 Wise, one of Britain’s biggest fintech firms, has seen its valuation hit £8bn after listing on the London Exchange this morning, marking a major boost for the capital’s tech scene. Shares in the payments group, formerly known as Transferwise, began trading at £8 each in its eagerly-awaited stock market float. It follows an auction process [...]
Life after Amazon: What’s next for Jeff Bezos? July 7, 2021 Jeff Bezos has stepped down as Amazon’s chief executive, 27 years after founding the company. Now, he’s moving on to the next phase in his life and it includes space travel. Watch the full report.
Test for London’s fintech sector: Wise listing could turn into ‘volatile affair’ July 6, 2021 Cross border payments company and fintech giant Wise will be admitted to the London Stock Exchange tomorrow morning. No price guidance has been issued, which will mean that the stock price will be determined during the auction, which will be a lengthy one – from 7.50am onwards, with trading to begin just after 11am – [...]
Wise exec: London tech scene already at ‘critical mass’ despite Brexit July 5, 2021 A senior exec at London fintech darling Wise has said Brexit “won’t get in the way” of the capital’s tech ecosystem continuing to thrive. Speaking on City A.M.’s podcast, the firm’s Chief Financial Officer Matt Briers said that while many elements including recruiting have become “harder,” the tech climate is “already at critical mass.” Read [...]
£700bn market: UK’s digital trade talks with Singapore underpin Britain’s role as a global tech exporter July 1, 2021 The UK and Singapore launched negotiations this week on a new ambitious digital trade agreement that could remove barriers and provide access to digital trade. Government statistics show this digital trading relationship was worth £3.2bn in 2019, out of Britain’s total tech exports of nearly £63bn globally. As the value of the entire digital global [...]