Klarna to slash workforce by 10 per cent May 23, 2022 Buy-now pay-later firm Klarna will slash its workforce by around 10 per cent as it becomes the latest tech giant to announce a swathe of job cuts.
Fintech lender Creditspring bags £48m to keep up with cost-of-living borrowing boom May 23, 2022 London fintech lender Creditspring has revealed a £48m cash injection today as it looks to meet a surge in demand as consumers turn to credit amidst a cost of living crunch.
Allica set for profitability this year after loan book swells to £560m May 23, 2022 UK business lender Allica Bank said it is set to hit profitability for the first time this year after its loan book ballooned to £560m in 2021.
Buy-now pay-later firm Tranch poised for US push after cash injection May 23, 2022 Business to business buy-now pay-later firm Tranch is poised for a move into the US this year after bagging a £3.5m funding injection, the firm revealed today.
Klarna looks for fresh funding at slashed valuation of $30bn May 19, 2022 Buy-now pay-later giant Klarna is looking to raise fresh funding at less than a third of its most recent valuation, as the rout in global tech stocks begins to spread onto private markets.
City exclusive: Cordiant Capital’s co-CEO on how to make money in the crowded world of digital infrastructure May 19, 2022 Amid an increased focus on digital infrastructure, data transfers and online storage in practically every market around the world, investment giant Cordiant Capital listed its Cordian Digital Infrastructure arm in London last year. Time for City A.M. to catch up with Benn Mikula, co-CEO and managing partner at Cordiant Capital, to see how things are [...]
Exclusive: Tech exits surge as unicorns are ‘out’ and recurring revenue is the new valuation for venture capital May 19, 2022 European technology exit values and counts have skyrocketed in the past year, reaching $133.4 billion in value, a 400 per cent year-over-year increase, across 1,247 exits. In 2021, there were approximately 186 public listings, including names such as UiPath, Wise, GitLab, OVH, and SUSE. In addition, M&As reached an all-time high with 687 European companies being acquired. The deep pool of [...]
MarketFinance raises £100m from Deutsche Bank to support funding for SMEs May 19, 2022 Fintech platform MarketFinance announced a debt raise from Deutsche Bank which the company will use to part fund up to £100m of lending to support strong, well-managed SME businesses with their investment and working capital needs.
Morgan Stanley throws weight behind Thought Machine in $160m funding round May 18, 2022 Morgan Stanley has thrown its weight behind London fintech Thought Machine in a $160m funding round announced today, as the London-based cloud banking firm gears up for international expansion.
Modulr poised for pan-European push after £83m funding injection May 18, 2022 London fintech firm Modulr is poised for pan-European expansion after closing a £83m funding round today, led by global growth equity firm General Atlantic.