Klarna: BNPL giant on ‘solid path to profitability’ after cost cutting push helps narrow losses February 28, 2023 Buy-now pay-later giant Klarna said it was on a “solid path to profitability” today after a major cost-cutting push saw it narrow its losses in the second half of the year. The Swedish headquartered firm, which has slashed its headcount and pared back growth plans in the past 12 months, lost a record SEK 10.4bn [...]
Exclusive: Klarna rolls out UK late fees and ‘customer recovery programme’ in bid to curb defaults February 24, 2023 Buy-now pay-later giant Klarna will begin penalising customers for late payments in the UK next month in a bid to curb loan defaults, as shoppers pour onto the platform amid a cost of living squeeze, City A.M. can exclusively reveal. The Swedish bank and payments firm, which has been on a major cost cutting and [...]
Amigo struggling to raise £45m survival cash as it swings to hefty loss February 23, 2023 Beleaguered lending shop Amigo said it was yet to secure the £45m funding it needed for survival today as it swung to a hefty loss in the nine months to the end of December. The controversial Bournemouth-based firm has been struggling to restart lending again in full after being punished by regulators for dishing out [...]
FTX collapse: UK investors report losses of nearly £2m to police February 22, 2023 The amount of recorded cash lost by UK investors in the collapse of crypto exchange FTX swelled to nearly £2m this month as burnt traders turn to the police in the hope of recovering their money, a freedom of information request reveals.
Growing ‘valley of death’ funding gap could scupper UK tech ambitions, industry bosses warn February 22, 2023 A growing ‘valley of death’ funding gap facing the UK’s tech sector could scupper the government’s Silicon Valley ambitions as firms struggle to raise cash and fuel growth, tech investors have warned. Venture capital funding into the UK faltered last year amid a global slowdown as soaring inflation and market volatility caused investors to pull [...]
3 Great fintech jobs in London this week February 20, 2023 Searching for your next fintech job move? London should be at the top of your career bucket list. This is a city with everything you could want; bustling nightlife, a wealth of different cultures, great transport links, plus plenty of top companies with exciting opportunities––and of course, a long history of being at the heart [...]
Buy-now pay-later complaints jump as shoppers rely on providers amid cost of living crunch February 19, 2023 Shoppers are filing more complaints about buy-now pay-later (BNPL) firms to the UK's financial complaints body as shoppers turn to firms like Klarna and Zilch to fund their spending in the cost of living crisis.
Up and Atom: How the Durham-based digital bank is taking on the high street stalwarts February 16, 2023 Lending, according to Atom Bank boss Mark Mullen, is back in vogue. While it’s a view that might run counter to some of the political disquiet towards Britain’s big high street lenders, for Durham-based digital lender Atom, it’s hard to argue with. The firm has tempted in hordes of customers this year and is on [...]
Tech investors sound alarm over five ‘urgent issues’ choking UK innovation February 15, 2023 A group of top tech investors and entrepreneurs have piled pressure on the newly appointed science and tech minister to address “urgent issues” choking off growth in the UK’s innovation sectors.
Atom Bank boss backs London as home for much-anticipated IPO February 15, 2023 The chief of digital lender Atom Bank has publicly thrown his weight behind London as its home for an eventual initial public offering, in a boon to the City as it looks to tempt in more tech listings.