Exclusive: London fintech Revolut launches first card reader in venture into physical retail July 5, 2022 London fintech Revolut is making its first venture into physical devices with the launch of a card reader for shops and restaurants. Revolut, which now caters to a global customer base of 18m and garnered a $33bn valuation in its latest funding round, told City A.M. it was launching the device in UK and Ireland. [...]
Augmentum Fintech pulls back on fresh investment as ‘price correction’ looms July 4, 2022 Fintech venture vehicle Augmentum reported a “strong performance” in its portfolio last year but said it had pulled back on fresh investments in the past six months amid a rout in global tech firms.
Shoppers offered shares: WeShop races towards IPO as British tech star launches world’s first community-owned e-com platform July 4, 2022 The world’s first community-owned social ecommerce platform has gone live, offering shoppers shares in the group every time they make a purchase. The new platform, launched by British tech star WeShop is launching itself, plans to give away up to 90 per cent of its business to shoppers, and aims to list on the Nasdaq [...]
‘Principle driven’ approach is slowing down regulators, Revolut boss says June 30, 2022 The boss of fintech giant Revolut said UK regulators were bogged down by a “principle driven” approach today as he called for a stricter “rules-based” model to be adopted by watchdogs. Speaking at the CityUK summit today, Nikolay Storonsky said the firm had chosen to set up shop in the UK in 2015 due to [...]
Chrysalis shares plunge amid tech sell-off frenzy June 30, 2022 Asset manager Chrysalis saw its share price plunge in the first half of the year after its tech heavy portfolio was battered by soaring inflation and a sharp fall in valuations.
BNPL firm Zilch bags $50m as boss predicts looming crisis for ‘checkout button’ rivals June 30, 2022 The boss of buy-now pay-later firm Zilch criticised the business model of ‘checkout button’ rivals today and said they would be rocked by an economic slowdown this year, as the London fintech revealed a $50m funding injection to fuel its expansion.
Digital debt collector braced for ‘uncomfortable’ growth amid soaring cost of living June 29, 2022 The boss of fintech debt collector Ophelos said the cost of living crunch would lead to a surge in demand for its services this year as it revealed a fresh £5m funding round today to double down on growth.
Wise profit leaps as news of fintech chief’s FCA tax probe settles June 28, 2022 Fintech giant Wise today revealed profits hit £371.9m last year on the back of a surge in revenues and customer growth. The London-listed fintech said gross profit rose 43 per cent on 2021 levels while revenues topped £559.9m, up a third on last year. Customer numbers meanwhile hit 4.6m in the last quarter of 2022 [...]
Withdrawing investor tax breaks could choke off start-up investment, VC bodies warn MPs June 27, 2022 Venture capital bodies have today warned MPs that the withdrawal of tax incentives for investors could choke off the flow of capital into UK start-ups and restrict the growth of the country's tech sector.
Newly minted: Challenger bank Kroo is just second to be granted BoE licence since August 2016 June 27, 2022 There’s a new bank on the block with digital company Kroo receiving the first licence issued by the Bank of England since early 2021. The FinTech firm becomes just the second to get a green light since 2016, after completing a number of tasks to prove its robustness, compliance, risk management and leadership. Kroo was [...]