Klarna pulling back from growth to focus on profits, boss says May 26, 2022 Buy-now pay-later giant Klarna is shifting away from a high-growth strategy to focus on a fast-track route to profitability, boss Sebastian Siemiatkowski said today.
‘Impact tech’ investment jumps to £960m in 2022 but slowdown looms, analysts warn May 26, 2022 Funding into so-called ’impact tech’ start-ups in the UK has jumped over 30 per cent this year despite soaring inflation and market turbulence beginning to put the squeeze on venture capital investors, fresh data has revealed.
US payments firm Bolt becomes latest fintech to slash jobs May 25, 2022 Checkout tech firm Bolt is slashing its workforce as it becomes the latest in a swathe of fintechs to announce job cuts.
Andreessen Horowitz looks to buck crypto crash with new $4.5bn fund May 25, 2022 US venture capital giant Andreesen Horowitz is looking to buck the crypto crash with a new $4.5bn fund that will pump cash into crypto and so-called ‘web3’ startups.
London fintech Paddle snaps up US firm ProfitWell for $200m May 25, 2022 London fintech firm Paddle has struck a $200m deal to buy US firm ProfitWell today in its first acquisition since being founded ten years ago.
JPMorgan braced for more than $1bn losses on digital retail bank Chase May 24, 2022 Wall Street giant JPMorgan said it is braced for more than $1bn losses as it grows its digital bank Chase over the next few years, with the retail lender passing the 500,000 customer mark in the UK today.
London-based venture firm Crane bags £112m for new ‘deeptech’ fund May 24, 2022 London-based venture firm Crane has bagged $140m (£112m) for a fresh ‘deep-tech’ fund today with £30m backing from British Business Bank-owned investor British Patient Capital.
Exclusive: Politicians jeopardise tech growth with hard-line immigration policy, top tech chief warns May 24, 2022 Open immigration is critical to the success of the UK’s tech sector but politicians are being distracted by hard-line point scoring, a top tech chief has warned.
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.