Bitcoin banking app Mode lists on LSE’s main market October 5, 2020 Bitcoin banking app Mode has started trading on the London Stock Exchange, in the latest sign that life is starting to return to the capital’s IPO market. The UK fintech today listed on the LSE’s main market, raising £7.5m by way of a placing of 15m new ordinary shares. It is considerably more than the [...]
London fintech Currensea launches product for small businesses October 5, 2020 London-based fintech Currensea has today launched a debit card for SMEs, built on open banking, to help with overseas transactions. The first-of-its-kind debit card enables small businesses to make international transactions through their existing bank account without any bank charges and with low fees competitive with leading challenger banks. The new Mastercard, which costs just [...]
Kazakhstan fintech Kaspi plans London IPO October 2, 2020 Kazakh banking and fintech firm Kaspi has confirmed plans to float on the London Stock Exchange this month. Kaspi, which controls the third-largest bank in Kazakhstan, said it plans to sell new and existing shares by listing its Global Depositary Receipts (GDRs) on the stock exchange. The company did not reveal what stake its shareholders [...]
Is flexible pay set to be the next ‘on-demand’ service? September 30, 2020 | City Talk FinTech disruption in the payments market has come full circle; from early innovations in ways to pay, some players are now revolutionising how people get paid. The payments sector has been at the forefront of the FinTech revolution over the past decade reconfiguring supply, demand and purchasing patterns between vendors and consumers across the globe. [...]
Transferwise profit doubles as global expansion boosts revenue September 23, 2020 Profit at British fintech giant Transferwise more than doubled in the last 12 months, as investment in geographical expansion paid off. The London payments firm said profit for the year ending March 2020 was £21.3m, up from £10.3m a year earlier and marking its third straight year in the black. Meanwhile revenue jumped 70 per [...]
It is vital that lenders understand the personal impact of the coronavirus pandemic September 16, 2020 Our capital city is expensive. Many of us rely on credit to make ends meet here. We are also a city made up of renters, recent immigrants, gig workers and young professionals – many of whom will, through no fault of their own, struggle to access credit. They are invisible to lenders and therefore denied [...]
Klarna valued at $11bn after fresh fundraising round September 15, 2020 Swedish fintech Klarna is the highest-valued private fintech in Europe after a fresh funding round valued the group at $11bn (£8.54bn). The “buy now pay later” group secured $650m (£504.6m) in an equity funding round led by investment firm Silver Lake alongside Singapore’s sovereign wealth fund GIC and Blackrock. Concurrently, Merian Chrysalis, TCV, Northzone and [...]
Exclusive: David Blunkett becomes adviser to financial firm Elementary B September 15, 2020 Former Labour home secretary Lord David Blunkett has become a strategic adviser to financial services start-up Elementary B, City A.M. can reveal. Elementary B is a new financial services company that seeks to help medium-sized firms better manage their businesses by providing new technology and advice. Blunkett – also a former education and work and [...]
Santander spins out $400m fintech venture fund September 11, 2020 Santander is splitting off its fintech venture capital fund and doubling its funding, re-branding the formerly-known Innoventures as Mouro Capital. Mouro Capital will be independent from Santander and have $400m in allocated funds, the Spanish bank said today. It will take on the entirety of Innoventures’ current portfolio, which includes the likes of payments giant [...]
Credit Suisse to launch Revolut and N26 digital banking rival September 10, 2020 Credit Suisse is to launch a digital banking app to rival the likes of Revolut and N26, offering free foreign transactions and digital wealth management. The CSX app will challenge competitors on the Swiss bank’s home turf when it launches next month, before a potential expansion elsewhere. CSX will feature free online banking tools, including [...]