Revolut wants to be the next Robinhood, promising commission-free stock trading as it hits 2m users June 7, 2018 Challenger banking app Revolut has reached 2m registered users, as it prepares to launch a commission-free stock trading feature and pushes back its journey across the pond. The new feature will allow users to explore and invest in UK and US listed companies, as well as other instruments such as exchange traded funds and options. [...]
Fintech unicorn Transferwise partners with first major European bank BPCE, gaining 15.1m new customers June 4, 2018 Out with the old and in with the new: digital money transfer service Transferwise has partnered with Banques Populaires’ and Caisses d’Espargne (BPCE), France’s second largest bank, to integrate its API directly into BPCE’s banking apps. Set to go live at the beginning of 2019, the partnership between Groupe BPCE, its international banking arm Natixis [...]
Rakuten-backed digital money transfer service Azimo raises £15m Series C May 29, 2018 Azimo, a digital money transfer service based in London and Krakow, has raised a $20m (£15m) Series C financing round, led by Rakuten Capital, the investment arm of Japanese innovation giant Rakuten Inc. Other investors participating in the round included e.ventures, Frog Capital, GR Capital Partners, Greycroft Partners, MCI, Quona Capital and Silicon Valley Bank, [...]
Tandem Bank hits 100,000 user milestone, after troubled year comes to an end May 29, 2018 It seems another digital bank is on the rise, as Tandem has today announced hitting 100,000 customers just three months after launching its first product. Though the number represents just registered users and not active customers of the banking app, Tandem has said that it sees approximately 82 per cent of that number using their [...]
The Bank of England is setting up its own fintech hub March 22, 2018 The Bank of England (BoE) will set up a fintech hub to monitor developments that could help boost the UK's weak productivity levels. "We have set up a new fintech hub that will sit at the heart of the Bank, to consider both how the Bank understands and how it applies fintech, relevant to its [...]
Britain’s fintech firms are expecting growth to rocket over the next three years March 21, 2018 UK fintech firms expect higher than average growth over the next few years as London remains a top destination for business. UK-based financial technology firms expect 88 per cent growth over the next three years, topping the average country's expectations, according to a global fintech survey by theLondon Stock Exchange Group and TheCityUK. Only Germany [...]
Digital challenger bank Tandem has launched its first product – a credit card February 20, 2018 Fintech startup Tandem is launching its first product to the public – a credit card. It's also the first digital challenger bank to offer a credit card, with others such as Monzo and Starling initially diving into current accounts. Read more: Bob Diamond's private equity firm is eyeing up digital challenger Tandem The card will [...]
A new fintech accelerator is launching in London as Investment Association plans VeloCity February 19, 2018 London is getting a new tech accelerator that will focus on fintech, in particular startups looking to shake up the asset management industry. VeloCity will be launched by the Investment Association later this year to bring innovation to the industry. Read more: Maybe it’s time we ditched fintech? Members of the group, which represents more [...]
A new fintech bank led by a former hedge fund boss has just raised £70m through a float on the London Stock Exchange February 13, 2018 Trufin, a niche technology-enabled bank run by a former hedge fund boss, has just floated on the London Stock Exchange this morning to raise £70m. The fintech-focused business has three divisions including DFC, a short-term lender focusing on financing supply chains, Oxygen Finance, which helps provide early payments to the UK public sector, and Satago, [...]
UK fintech VC investment hit a record in 2017 as China falls behind February 7, 2018 Investment into UK fintech by venture capitalists hit a record high in 2017 bucking a global downturn and grew at a faster pace than rivals, new figures reveal, shaking of concerns of a Brexit slowdown. The year saw $1.8bn (£1.3bn) of cash flow into startups working on innovative financial technology, a rise of more than [...]