Wise: Profit upgrade sends shares jumping as fintech firm revels in rising interest rates October 12, 2023 Wise shares have jumped this morning after the fintech firm hiked its profit guidance for the year on the back of a boom in customer numbers and bumper income from interest rates. Wise, which offers a current account to customers and allows them to ping currency overseas, said in a trading update this morning income [...]
London fintech Kennek raises £10m in seed funding for lending software October 10, 2023 London-based fintech Kennek has raised $12.5m (£10.3m) in a seed funding round led by HV Capital, the backer of Hello Fresh, Depop and Flixbus. The funds will allow Kennek, a software developer that provides a single platform for alternative lenders, to build on its home market and plans for expansion into the EU. Co-founder Xavier [...]
London races ahead of San Francisco on fintech as chiefs rally behind reform October 2, 2023 London tech chiefs have called on the government to push ahead with reforms today after a new survey showed that London has climbed above San Francisco as a global hub for fintech for the first time.
Fintechs back digital pound arguing it will boost innovation and competition October 1, 2023 Fintechs are excited by the potential of a so-called digital pound arguing it will help spur innovation in the UK and create a more competitive payments environment.
Fintech platform Apron raises £12.2m in latest funding round September 28, 2023 Fintech firm Apron, a payments and accounting platform for small businesses, has raised $15m (£12.2m) in its latest funding round.
It’s not all doom and gloom, says London fintech chief citing ‘shoots of positivity’ September 27, 2023 London’s fintech sector is showing “shoots of positivity”, an industry chief said today as they sought to challenge the doom and gloom narrative surrounding the business environment in the City. Despite the loss of some major floats, the chief executive of Innovate Finance (IF), the industry body representing the UK’s fintech sector, said she was [...]
Revolut granted extension to file annual results for second year in a row September 19, 2023 The fintech's results had been due in September, nine months after the end of its financial year.
Funding Circle chief Lisa Jacobs: Lending through a crisis – and looking toward the US September 14, 2023 It’s not been a quiet few years for small business lenders. When covid struck in 2020, a host of non-banks found themselves thrust into the public consciousness alongside the big High Street lenders as small companies scrambled for a cash lifeline through lockdowns. The reception was a largely positive one; some even took on something [...]
Zopa raises £75m debt as fintech bank eyes public markets debut September 8, 2023 Fintech lender Zopa Bank has raised a fresh £75m round of debt financing today to boost its coffers ahead of a much-anticipated float on the public markets. The London-based bank, which has been open about its ambitions for an IPO in recent months, said today it had raised £75m of tier-two capital through a ten-year [...]
Funding Circle slides to loss as weak economy and end of Covid loans hit lending September 7, 2023 Funding Circle swung to a loss in the first half of the year as a sluggish UK economy and the winding down of government-backed Covid loans continued to drag on the small business lender’s bottom line. The London-listed fintech posted a pre-tax loss of £16.6m in the six months to June, against a profit of [...]