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 [...]
Female fintech leaders highlighted as sector faces continued lack of gender diversity February 28, 2019 Senior figures at major banking and professional services firms including HSBC, Barclays, Schroders and Monzo have been recognised on a list of women excelling in Fintech. A total of 35 women including HSBC head of digital innovation Diana Biggs, Starling Bank founder Anne Boden and Monzo chief technology officer Meri Williams were highlighted on Innovate [...]
Digital banking challenger N26 is expanding to Brazil February 27, 2019 German fintech challenger N26 is expanding to Brazil, making it the first of Europe's biggest retail digital banks to enter the South American market. Announcing the move on stage at Mobile World Congress in Barcelona, N26 said Eduardo Prota would head up the new region. Prota has previously worked for Santander and Cielo, as well as having [...]
London Stock Exchange Group leads $20m Nivaura funding round February 27, 2019 Fintech firm Nivaura has closed a $20m (£15m) seed capital round led by London Stock Exchange Group. The London-based company, which provides blockchain technology for digital investment banking platforms, will use the funding to rapidly expand its leadership, business development and technical teams. Read more: Revolut pushes ministers for fast-track tech visas The company also plans to [...]
Tech startups remain private for longer leading to high valuation IPO pipeline February 26, 2019 Technology startup companies are choosing to remain private for longer due to the availability of capital from private equity and venture capital investors, creating a pipeline of high-value listings expected this year. The median age of venture capital backed technology companies at the time of IPO has risen from 10.9 years in 2018 from 7.9 [...]
Venture capital fund run by former Facebook and Deliveroo employees raises $85m February 26, 2019 A venture capital fund run by former Facebook, Deliveroo and Klarna employees has raised $85m. (£64.5m) The Blossom Capital fund is the first launched by ex-Index Ventures and Localglobe investor Ophelia Brown, 32, and is the fastest ever first time fundraise from a female VC in Europe. Read more: Ex-Google CFO opens up a venture capital office [...]