Five fintech firms scoop combined £25m from RBS competition fund June 14, 2019 Five fintech firms have been awarded a combined £25m from an RBS competition fund designed to boost business banking competition. Codat, Fluidly, Form3, Funding Options and Swoop Finance were all given £5m in Pool D of the £775m fund, where the focus shifted to the commercialisation of fintech. Read more: Metro, Starling and Clearbank win [...]
Monzo bounds ahead of rivals with US launch June 13, 2019 Digital bank Monzo has today launched in the US, making it the first of its rivals to finally land in the coveted territory. The bank will launch with its full banking app and debit card, complete with a routing number and FDIC insurance up to $250,000, courtesy of a licensing partnership with Sutton Bank in [...]
Surge in demand for UK tech visas as digital sector draws in top talent June 13, 2019 The number of applications for UK tech visas has soared 45 per cent in the last year as the booming tech sector continues to attract global talent. The surge marks the fifth consecutive year of growth in application numbers, according to industry body Tech Nation. Read more: Facebook to create 500 tech jobs in London [...]
Revolut goes Down Under as it launches accounts in Australia June 13, 2019 Digital bank Revolut will today launch its first accounts in Australia, as it embarks on a public testing period in the region. The startup said it will be opening its waiting list in the country today, which has so far amassed around 20,000 sign-ups. Revolut has opened a regional headquarters in Melbourne to manage the [...]
Augmentum Fintech to double in size as it seeks £150m fundraise June 11, 2019 London-listed fund Augmentum Fintech is courting a £150m capital raise, which would more than double the size of the company. The fintech-focused firm said in a filing it intends to create up to 150m new shares, valued at a total of £150m, subject to shareholder approval. The capital would allow the firm “sufficient flexibility to [...]
London fintech player Worldremit raises $175m in series D funding June 3, 2019 London fintech startup Worldremit has raised $175m (£138m) in a series D funding round led by TCV, Accel and Leapfrog Investments. The cash will fund Worldremit’s plans to grab a greater share of the world remittance market, which was worth $689bn last year. Read more: Fintech startup Worldremit poaches former Paddy Power chief as its new boss [...]
Rise in customers with multiple current accounts as fintech boom hits high street banks June 3, 2019 An increasing number of Britons now have products from a range of different financial providers, as the rise in fintech has shifted the focus away from traditional high street banks. Research by peer-to-peer lending firm Zopa revealed one in three Brits holds two or more current accounts, an increase of 36 per cent on the [...]
City fintech Yapily scores $5.4m from Transferwise founders and Localglobe May 30, 2019 London fintech startup Yapily has closed $5.4m (£4.3m) in seed funding from King’s Cross-based venture capital firm Localglobe and HZ Holtzbrinck Ventures. Other investors included Transferwise co-founders Taavet Hinrikus and Ott Kaukver, and C-suite executives from Twilio and Unicredit. Read more: Transferwise is Europe's most valuable fintech at $3.5bn Yapily will use the funding to [...]
Facebook ‘finalising its own Globalcoin cryptocurrency’, which could launch in March next year May 24, 2019 Facebook is in the final stages of planning the launch of its own cryptocurrency in 2020 which has been dubbed Globalcoin, according to reports. The social media giant, which has thus far steered clear from world of crypto trading, could set up a digital payments system in around a dozen countries as soon as March next [...]
Wealthsimple grabs $100m in new funding round from Allianz May 22, 2019 Digital wealth giant Wealthsimple has raised a CA$100m (£58.8m) investment round, led by the investment unit of insurance firm and asset manager Allianz. The Canadian fintech, which operates in the UK and US alongside its home country, manages an online investing service and a commission-free stock trading app, with over $4.5bn of assets under management. Read more: [...]