Fintech startup Revolut’s controversial Valentine’s Day advert faces financial watchdog scrutiny February 8, 2019 A fintech startup under fire for a Valentine’s Day ad that has been accused of mocking single people is now facing a potential probe from the UK’s financial watchdog. Revolut’s Tube advert led to complaints online after the ad addressed people who had apparently ordered a takeaway for one last Valentine’s Day. Read more: It's about time: [...]
UK fintech unicorn Oaknorth to nail $440m round led by Softbank February 7, 2019 Japanese mega investor Softbank has led a $440m funding round in savings challenger Oaknorth, investing in the company via its $100bn Vision Fund. City A.M. understands the Clermont Group also participated in the round, which is expected to close tomorrow morning. The funding will be used to expand Oaknorth's SME loan origination and credit capabilities to banks and [...]
What do you want to know about big data & AI in investment management? February 7, 2019 | City Talk A technological advance can impact — even transform — the global economy let alone a particular sector. The steam engine in the first industrial revolution, electricity in the second, and internet technology in the third fundamentally changed human history. Today, big data and artificial intelligence (AI) have the same transformative potential. When it comes to [...]
Business banking startup Anna Money raises £8.5m from Kinetik February 5, 2019 Financial admin startup Anna Money has landed £8.5m in funding from Kinetik, as the banking app aims to take on the big leagues. Anna, which offers a digital admin assistant, current account and banking debit card for small businesses, said it is preparing to launch several new tools in anticipation of HM Revenue & Customs' [...]
Crypto exchange Kraken buys London trading firm in nine-figure deal February 4, 2019 San Francisco-based cryptocurrency exchange Kraken has finalised a deal to buy London trading firm Crypto Facilities. Kraken said it was one of the industry’s largest deals to date, valued at nine-figures. Though Crypto’s 25-strong team will remain in London, they will all become Kraken employees and expand the US firm's commitment to expanding its European [...]
More than a quarter of Brits believe Facebook will launch a banking service by 2023 February 4, 2019 More than a quarter of Brits believe that Facebook will offer a banking service within the next five years. The research, published on the 15th anniversary of the social media giant’s launch, revealed that 29 per cent of UK consumers believe technology companies such as Facebook and Amazon will offer high street banking services by [...]
HSBC, Goldman and Lord Fink back City fintech firm Bud February 4, 2019 Fintech startup Bud has closed a $20m (£15.3m) funding round from investors such as HSBC, Goldman Sachs and former Man Group boss Lord Stanley Fink. Other investors included Investec’s INVC fund, ANZ Bank, the corporate venture arm of Banco Sabadell and 9 Yards, the venture capital firm which lists former chancellor George Osborne among its [...]
JP Morgan takes minority stake in London startup Smart Pension February 4, 2019 Banking behemoth JP Morgan has made a strategic investment in workplace pensions startup Smart Pension, the firm will announce today, as part of a fresh equity funding round. The size of the round was undisclosed, however Smart Pension said it had raised around £50m to date. JP Morgan took a minority equity stake as part of [...]
Starling Bank courts Irish banking licence as it launches euro accounts February 4, 2019 London digital challenger bank Starling is today kicking off preparations to apply for an Irish banking licence, as it launches support for euro currency accounts this week. Offered to its users based in the UK, the euro account will be available alongside Starling’s existing pound account in order for customers to hold, send and receive euros with [...]
Revealed: The 10 fintech startups in Barclays’ 2019 Techstars accelerator February 1, 2019 It's that time of year again: Barclays has unveiled the 10 startups that have made the cut for its annual fintech accelerator programme, powered by venture capital giant Techstars. Now in its sixth year, the 13-week programme puts the young companies through an intensive training course with access to mentorship from Barclays and industry experts, and [...]