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 [...]
Peer-to-peer lender Funding Circle recovers slightly after share price crash July 3, 2019 Shares in peer-to-peer lender Funding Circle made steps towards recovery today after plummeting as much as 29 per cent yesterday after it slashed its revenue projections in half. The fintech’s stock recovered by more than eight per cent today to 125p following yesterday’s trading update that said full year revenue growth is now expected to [...]
Funding Circle shares dive as it halves revenue growth target July 2, 2019 Funding Circle’s shares collapsed today as it slashed revenue growth predictions in half this year, warning that demand for loans is waning amid an “increasing uncertain economic outlook”. The small business loans firm today warned that 2019 revenue growth will hit 20 per cent, rather than the 40 per cent it originally predicted. The peer-to-peer [...]
Revealed: Starling Bank chief’s stake slides as billionaire backer tightens grip July 1, 2019 The chief executive of Starling Bank has lost her position as a major shareholder in the British fintech giant, following a large funding injection in February. Anne Boden, who founded Starling in 2014, ceased to be a person with significant control in the bank in April, according to filings on Companies House. A spokesperson for [...]
Fintech firm Revolut leads list of UK’s top 100 startups of 2019 July 1, 2019 Challenger bank Revolut has claimed first place in a list of the UK’s top 100 startups of 2019, it was revealed today. British fintech startup Revolut topped Startups.co.uk’s Startups 100 list for 2019, as it counts 5m customers around Europe and the UK. Energy startup Igloo placed second, while retail startup Trouva took third place. [...]
Revolut launches partnerships with three charities in Pride Month push July 1, 2019 The World Wide Fund for Nature (WWF), Save the Children and ILGA Europe have partnered with digital bank Revolut to automate charitable donations. In an industry-first, Revolut’s 5m users will be able to round up their card payments to the nearest pound and automatically donate the difference to one of the three charities. Customers will [...]
Mobile banking to overtake branch use by 2021 July 1, 2019 Mobile banking is set to overtake branch use in the next two years, as a boom in the fintech sector drives an increasing number of customers to digital formats. Research by data consultancy CACI revealed 25m customers, or almost half the UK’s adult population, are currently banking on mobile formats. Read more: Transferwise expands to [...]
Bitcoin crashes from libra high after Coinbase outage June 27, 2019 Bitcoin sank almost $2,000 to give up gains last night as volatility returned after the cryptocurrency approached $14,000. Read more: Bitcoin surges towards $13,000 thanks to Facebook libra Facebook libra’s launch had buoyed bitcoin, pushing the price up until it was just shy of $14,000 last night, its highest level since January 2018. But over [...]
Transferwise expands to the US with digital banking effort June 26, 2019 Fintech stalwart Transferwise has lifted the lid on its expansion to the US, opening up access to its banking arm across the Atlantic. One year on from its launch in Europe, Transferwise’s borderless banking account and debit card will be available to US users from today after a short beta-testing period last month. The firm [...]