Exclusive: Revolut boss criticises FCA over sluggish progress on banking licence June 15, 2022 The founder of fintech giant Revolut has criticised the Financial Conduct Authority (FCA) after the firm’s progress towards a full banking licence had been "slower” than expected.
Progress on Arm London listing ‘hugely significant’, says tech chief June 14, 2022 Tech chiefs have hailed the possibility of a London listing for British chipmaker Arm as “hugely significant”, after the digital minister said progress had been made in discussions with the firm’s owner SoftBank this week.
Allica Bank bags £55m funding led by British Business Bank subsidiary June 14, 2022 Fintech business lender Allica has bagged a fresh £55m round of funding today to “fuel its continued growth” as it eyes up profitability this year.
Terrible Tuesday for Bitcoin as crypto tumbles 20 per cent in just two days with investors fleeing risk June 14, 2022 The price of bitcoin fell by another 10 per cent overnight, hitting an 18-month low of $20,834.70, before recovering to trade around $22,700 by 9am UK time this morning. In sterling terms, bitcoin is now trading around £18,665. Discussing the violent movements with City A.M. this morning, Adrian Lowery, financial analyst at DIY investing platform [...]
Exclusive: Moneyfarm’s rising star CEO on disrupting finance and the M&G deal that got the City talking June 14, 2022 Moneyfarm is a pan-European digital wealth manager with around 80,000 active investors and more than £2.2bn invested on its platform. Until recently it has been better known in Italy than the UK, but this is likely to change very soon, a confident Giovanni Daprà – co-founder and CEO of Moneyfarm – tells City A.M. today. [...]
Molten Ventures poised to slash investment by half after profits jump to £301m June 13, 2022 London-listed venture capital firm Molten Ventures reported a surge in the value of its portfolio in the last 12 months but warned today it was braced for a slowdown in the year ahead as inflation begins to bite.
UK tech investment hits £12.4bn as private firms buck volatility June 12, 2022 The amount of cash pumped into British tech firms surged beyond that of China in the first five months of the year as private British tech firms bucked the volatility that has rocked publicly listed tech stocks.
Coinbase boss hits out at ‘really dumb’ employee plan to oust executives June 12, 2022 The boss of crypto exchange Coinbase has hit out at a group of renegade employees who called for top executives at the firm to be ousted, telling them to “quit and find a company they believe in”.
Klarna boss questions Apple competitive practices after buy-now pay-later move June 12, 2022 The boss of fintech giant Klarna has questioned the competitive practices of Apple after the tech behemoth announced it would push into the buy-now pay-later space this week.
Weekend read: The SPAC bubble is bursting, argues Syz Bank’s investment chief June 11, 2022 With monetary policies tightening, speculative bubbles are bursting one after the other. SPACs are no exception. As a reminder, a SPAC, or Special Purpose Acquisition Company, is a company with no operational activity – an empty shell – that raises funds on the stock market with the sole objective of making an acquisition or acquisitions. [...]