Fintech star Revolut goes live with zero-fee Nasdaq stock trading service August 1, 2019 Digital bank Revolut has today launched its commission-free stock trading service, more than a year after it was first announced. The platform will present a fresh rival to London startup Freetrade, in addition to larger services such as those run by Etoro. Read more: Metro Bank finance director quits to take role with Revolut Enabled [...]
Scottish fintech Paysend closes £8.5m series B round July 26, 2019 Fintech firm Paysend has today announced the close of an £8.5m funding round, led by GVA Capital and a crowdfunding campaign on Seedrs. Silicon Valley-based GVA invested £3.95m in the round, while Revolut and Paypal-backers Plug and Play and Digital Space Ventures led the funding on Seedrs. More than 900 investors joined the crowdfunding effort, [...]
Woodford props up £50m funding for Atom Bank July 22, 2019 Digital banking stalwart Atom Bank has today raised £50m from its existing investors, including former star fund manager Neil Woodford. Woodford, who previously held a stake in Atom through his beleaguered Equity Income fund, has invested £10m in the fintech firm through his other listed entity Woodford Patient Capital Trust. The trader transferred his stake [...]
Digital bank N26 valued at $3.5bn as it adds $160m onto its series D July 18, 2019 German fintech starlet N26 has upped its valuation to $3.5bn (£2.8bn), after extending its series D funding round to raise another $160m. The digital banking app has now raised a total of $470m in the round, which included investors such as Insight Venture Partners, Singapore’s sovereign wealth fund GIC, Tencent, Allianz X, Peter Thiel’s Valar [...]
British fintech booms as 2019 set to be a record year for UK investment July 16, 2019 The UK’s standout fintech sector has once again broken records, hitting a new high of $2.9bn (£2.3bn) in funding in the first six months of 2019. The amount represents the highest intake of investment in a half-year period to date, and is equal to approximately 85 per cent of the sector’s total funding in 2018. [...]
City fintech Curve picks up $55m series B funding round July 16, 2019 London fintech firm Curve has today closed a $55m (£43.9m) series B funding round, led by Gauss Ventures. New investors Creditease and IDC Ventures also came on board. The round was similarly supported by existing investors, such as Seedcamp, Speedinvest and the venture capital arms of Santander and Investec. Curve consolidates multiple bank accounts and [...]
Revolut ‘to appoint Martin Gilbert as chairman in next few weeks’ July 14, 2019 Revolut is reportedly gearing up to appoint Martin Gilbert as its first ever chairman in a bid to strengthen governance and improve investor sentiment ahead of an upcoming fundraising. Gilbert, a former co-chief executive of Standard Life Aberdeen (SLA), was first confirmed as an adviser to chief Nikolay Storonsky in March. Read more: Revolut fights [...]
German fintech challenger bank N26 launches in the US July 11, 2019 German fintech giant N26 has today launched its services in the US, making it the second major European digital bank to cross the pond. Starting today in a staged rollout, the 100,000 customers on N26’s US waiting list will be invited to open an account and have full access to the bank’s app and debit card. [...]
London fintech Soldo scoops up $61m in funding July 8, 2019 London-based business banking fintech firm Soldo has today closed a $61m (£48.7m) series B funding round, led by Battery Ventures. Battery joined the round as a new investor alongside Dawn Capital, and existing investors Accel and Connect Ventures. The venture capital firms have previously backed the likes of iZettle, Facebook and Slack. Soldo, which provides [...]
Former Goldman Sachs chief Michael Sherwood to join UK fintech Revolut July 6, 2019 The former boss of Goldman Sachs European operations, Michael Sherwood, is set to join the board of UK fintech company Revolut. Sherwood, who is one of the most prominent bank executives in the City, will be announced in a non-executive directorship next week, according to Sky News. Read more: Revolut tops 100 startups of 2019 [...]