Four fintech lessons from Silicon Valley to London March 17, 2016 I had an eye-opening trip to San Francisco last week, as part of a UKTI mission to showcase the Best of British in fintech. While there, we were fortunate enough to meet with some of the most influential organisations on the West Coast, to educate them on the burgeoning fintech market here in the UK [...]
Student lender Future Finance announces fintech investments totalling £119m as it reports rocketing demand for loans March 14, 2016 Student lender Future Finance has raised £119m from fintech investors. Investors in Future Finance Loan Corporation – which has loaned nearly £25m to students since May 2014 – include QED Investors, Blackstone Strategic Opportunity Fund and Colchis Capital. The new investment takes the company's total funds to £185m. Read more: The future of education finance is here [...]
Here’s the outlook of UK tech startups right now – and how they feel about Brexit, business confidence and hiring talent March 10, 2016 More UK tech startups are now worried that Brexit will be bad for business as the referendum on Britain's membership of Europe inches ever closer. In a comprehensive new survey of startups in the UK by Silicon Valley Bank (SVB), 70 per cent believe Brexit will have a negative impact on their businesses, a rise on the 64 per cent [...]
Britain wants to woo US tech entrepreneurs to expand their businesses in London and the UK with SXSW campaign launch by mayor’s office and UKTI March 10, 2016 Britain wants to woo more US tech entrepreneurs and encourage them to set up shop in London and elsewhere in the UK, in a bid to steal the crowns from San Francisco and New York as the hottest tech hotspots in the world. London is the most desirable destination for foreign tech workers in Europe looking to relocate [...]
Global fintech investment in 2015 hit $13.8bn as end of year slowdown fails to derail best year yet March 9, 2016 A slowdown at the end of 2015 failed to derail a bumper year for fintech as investors ploughed $13.8bn into startups in the sector across the globe – more than double the amount of the previous year. Investors made greater bets on disruptive technology in the finance sector than ever before, committing more money to each deal. The number of mega-deals – those worth [...]
BBVA acquires Finnish digital banking startup Holvi March 7, 2016 The Spanish bank BBVA which last year invested £45m for a stake in UK challenger bank Atom has snapped up a digital banking startup in Finland. Helsinki-founded Holvi, set up in 2011, has been acquired for an undisposed sum. "We’re excited about Holvi as we share a vision about the benefit of technology for the customer. They use [...]
Monitise’s share price soars more than 40 per cent as payments firm enters talks to sell off MyVoucherCodes arm Markco Media March 4, 2016 Monitise has confirmed it is in "very early stage discussions" around the possibility it will sell off part of its content business after the Aim-listed firm's share price soared more than 40 per cent this morning. Monitise, whose share price has tumbled 85 per cent in the last year after a series of bad results [...]
As the collapse of Powa shows, fintech can be a dangerous game because the UK’s capital structure is prohibitive to growth March 4, 2016 Another day, another failed fintech business. I don’t say this glibly as it is in my interests to be part of a thriving UK financial technology industry. I do however think that we need to analyse ‘sustainable’ fintech and concentrate on that arena. Companies like Powa Technologies, the payments group, stand out. Powa was at [...]
Fintech Week 2016: How London can become the fintech capital of the world March 2, 2016 Events like last week's Fintech Week show the government's commitment to be more than just words. But there is plenty more the government can – and must – do to ensure London cements its place as the global leader in fintech. There are several short-term pragmatic steps they could take, like setting up centres of excellence in specific fintech streams, [...]
Transferwise set for second round of fresh funding as expansion continues February 29, 2016 Online money transfer service Transferwise is closing in on a new round of funding, just 12 months after a $58m raising led by US venture capital firm Andreessen Horowitz. Transferwise still has around half of the previous rounds’ cash in the bank, City A.M. understands. Transferwise is in talks with big name investors including existing [...]