Draper Esprit leads £7m funding round in deep tech firm Hadean March 7, 2019 Venture capital firm Draper Esprit has led a £7m funding round in London deep tech firm Hadean. Hadean has created the world’s first cloud-first operating system to allow programmers to scale up their code and reduce the manpower and time wasted on engineering. Read more: London-listed Draper Esprit to double down on Europe with £100m [...]
UK and Turkey launch joint initiative to develop Islamic fintech March 7, 2019 The UK and Turkey have launched a new joint initiative to develop digital financial technology in the Islamic world. Firms hope to open financial services to the “unbanked population” through cooperation in the Islamic fintech market. Read more: Five fintech trends to watch in 2019 A report by the UK-Turkey Islamic Finance working group, which [...]
How to use an Isa to invest in peer-to-peer loans March 6, 2019 Since peer-to-peer (P2P) lending platforms began to enter the market in 2005, savers have used the services to hand out more than £10bn to borrowers. Aside from providing a significant boost to the UK economy, P2P offers attractive interest rates to lenders by cutting the banking sector from the borrowing process. The Innovative Finance Isa [...]
Revolut boss concedes to claims of ‘toxic culture’ at the startup March 5, 2019 The chief executive of London fintech startup Revolut said his firm “hasn’t always gotten things right” in an open letter late last night, after fresh allegations of a toxic culture at the company emerged last week. Former Revolut employees at both senior and junior levels described an environment of unpaid work, unachievable targets and high-staff [...]
KFC taps London fintech startup Flux for paperless payments March 4, 2019 KFC has launched a partnership with London fintech startup Flux which will see the US fried chicken chain go paperless. From today, users of digital banks Monzo and Starling, as well as select Barclays customers in the near future, will be able to receive digital itemised receipts for transactions in their banking apps when they [...]
Customers unable to access Revolut app after digital bank suffers outage March 1, 2019 Revolut customers were unable to use the digital bank’s app this morning after the firm suffered a technical glitch. The Revolut app was unable to process card top ups and money transfers for at least four hours today while the challenger bank attempted to fix the problem. Read more: Revolut pushes ministers for fast-track tech [...]
London startup numbers rise in face of Brexit uncertainty March 1, 2019 The number of new startups created each year in London is higher now than it was before the EU referendum, according to public data. While 205,325 new businesses started life in 2016, the year of the Brexit vote, entrepreneurs founded 216,204 companies last year, the Office for National Statistics (ONS) data reveals. Read more: The [...]
Snoop Dogg-endorsed fintech Klarna issues shares in £82m fundraising round March 1, 2019 Online payments firm Klarna has issued shares in a bid to raise 1bn Swedish krona (£82m) from existing investors, and said it will launch a larger external fundraising round later in the year. The Swedish fintech company, which in January welcomed a $2.5bn from none other than rapper Snoop Dogg, acquired a Swedish banking license [...]
Strong and stable: London extends lead as Europe’s top hub for unicorn startups March 1, 2019 London has cemented its status as the home of more young billion-dollar tech companies than any other European city, taking home the crown for ten consecutive years. Read more: Female fintech leaders highlighted as sector battles gender imbalance The number of so-called unicorn startups – private businesses valued at $1bn (£752.6m) and founded after 2000 [...]
Serial fintech entrepreneur Marta Krupinska focused on diversity as she relaunches Google for Startups UK February 28, 2019 Fintech entrepreneur Marta Krupinska has vowed to make diversity a priority as she takes over the reins at the relaunched Google for Startups UK. Read more: Revolut pushes ministers for fast-track tech visas Krupinska, who shot to fame after founding Azimo, the digital money transfer app, has been tasked with overseeing the Google project as [...]