Fintech unicorn N26 under scrutiny from German banking regulator April 11, 2019 Digital banking starlet N26 is under scrutiny from German banking regulator Bafin, after reports emerged of fraudulent transactions and problems with the bank’s communications structure. Concerns about N26 were first reported in October by German newspaper Handelsblatt, before further inquiries by Bafin were said to have revealed numerous deficiencies at the fintech startup. N26, which counts Monzo, [...]
London startups to take fintech unicorn crown from San Francisco April 9, 2019 London is on track to become home to the same number of fintech unicorns as San Francisco, the world's current leader. Out of the 29 fintech unicorns globally – companies with a valuation of more than $1bn (£765.5m) – nine are based in the Californian hub, while seven are housed in the UK capital. Over a third [...]
London remains most popular investment target for European venture capitalists April 8, 2019 London secured its reputation as a global fintech hub as it attracted almost double the amount of venture capital funding compared to its closest European rival last year. The capital received 39 per cent of European venture capital funding last year, almost double that of runner-up Berlin, which took in 21 per cent in 2018, despite [...]
Barclays plugs $6m into London financial tech startup Simudyne April 8, 2019 Financial simulation technology firm Simudyne will today announce the close of a $6m (£4.6m) series A funding round, led by Barclays. Early Snap and Lyft investor Graphene Ventures also joined the round, alongside Gauss Ventures which has previously backed digital banks Revolut and Tandem. The round raises Simudyne’s total amount of investment to date to [...]
Monzo set to overtake Revolut as fresh funding lifts valuation to £2bn April 7, 2019 Digital bank Monzo is set to double its valuation to almost £2bn after securing hefty backing in its latest fundraising round. The bank will reportedly close a £100m funding round, led by a new US investor, that will take its valuation to $2.5bn (£1.9bn) and make it the UK’s second-largest fintech startup. Read more: Oaknorth [...]
Shock, horror: Patagonia bans sale of corporate branded vests to fintech and Wall Street firms April 3, 2019 Patagonia will no longer sell corporate branded vests to financial firms as the US outdoor clothing retailer aims to target more environmentally-focused companies. The company has banned the sale of its popular branded vests, which are a wardrobe staple on Wall Street and in Silicon Valley, to financial services and technology firms, it confirmed today. Read more: [...]
Fintech Opengamma secures $10m funding led by London investor Dawn Capital April 3, 2019 Derivative analytics platform Opengamma has secured $10m (£7.6m) in funding led by London early stage investor Dawn Capital. The funding will allow Opengamma, which has doubled the size of its workforce and customer base over the last 12 months, to expand its teams in London, New York and Singapore and launch new products in the collateral [...]
Aviva and Sesame Bankhall invest £5m in new blockchain mortgage platform April 2, 2019 A new fintech mortgage platform has secured £5m seed funding from Aviva and Sesame Bankhall in a bid to transform the market. Acre – a next-generation mortgage and insurance platform – has announced £5m seed funding from insurance giant Aviva and financial advisor Sesame Bankhall Group (SBG). Read more: Monzo backer Accel stumps up $30m for Chainalysis' [...]
Digital wealth manager Nutmeg targets ‘seven figure sum’ in crowdfunding round March 27, 2019 Digital wealth manager Nutmeg has announced it will launch a crowdfunding round this year, targeting a seven figure sum. Nutmeg, which counts Goldman Sachs, Taipei Fubon Bank, Convoy and Balderton Capital among existing investors, is opening up company ownership to its customers in partnership with equity funding platform Crowdcube. Read more: £350 for your thoughts: [...]
10 London fintechs prepare to scale up as they join Tech Nation startup programme March 27, 2019 London fintechs dominate the latest entries to a government-backed startup programme as the capital's fintech sector continues to boom. Monzo, Starling Bank, Revolut and Salary Finance were among the companies selected for this year’s Future 50 programme. Read more: Fintech unicorn Oaknorth more than trebles profits The scheme, which is run by government-backed Tech Nation, [...]