Klarna losses soar as bosses double down on growth February 28, 2022 Swedish buy-now pay-later (BNPL) giant Klarna has reported soaring losses after accelerating its global expansion to add 10 new markets since the start of 2020.
Ukrainian vice prime minister pleads with Big Tech to shift the tides on Russia war February 27, 2022 Ukraine’s vice prime minister has pleaded with Big Tech companies such as Facebook, Visa, Mastercard and Starlink, to help the country fight against Russia’s invasion. “Mark Zuckerberg, while you create Metaverse – Russia ruins real life in Ukraine! We ask you to ban access to @facebookapp and @instagram from Russia,” vice prime minister Mykhailo Fedorov [...]
Julie Meyer: Further allegations dog venture capitalist February 24, 2022 VENTURE capitalist Julie Meyer was under further fire this evening as a host of previous business contacts alleged “gross, willful, and unethical” behaviour over a number of years. The High Court earlier this week issued an arrest warrant for Meyer after she failed to attend a hearing over a disputed £197,000 legal bill from Farrer [...]
Open banking’s ‘spaghetti soup’ of regulators needs streamlining, says boss February 24, 2022 The boss of the UK’s open banking body has called for the “spaghetti soup” of regulators overseeing the technology to be streamlined, as fintech firms increasingly push to accelerate its roll out.
City exclusive: London court issues arrest warrant for high-profile venture capitalist Julie Meyer February 23, 2022 The High Court has issued an arrest warrant for Julie Meyer, the founder and CEO of Swiss investment fund Viva Investment Partners (VIP), after she failed to attend a court hearing last week. The decision to issue a warrant for Meyer’s arrest comes after the High Court this month handed the high-profile businesswoman a [...]
Influx of foreigners: Rapid rise in hiring and relocating overseas talent to the UK due to severe shortage of job candidates February 23, 2022 A severe shortage of job candidates in the UK is fuelling a rapid rise in the number of British employers seeking out international talent to fill their vacancies and offering them more support in their move to a new country and city. Relocation platform PerchPeek told City A.M. this morning that it has seen a 327 per cent [...]
Exclusive: UK’s leading fintech bosses call on government to ramp up efforts to overhaul regulation February 21, 2022 A group of the UK’s leading fintech bosses have called on the Government to ramp up efforts to overhaul regulation and build a world-leading environment for the sector, in a letter seen exclusively by City A.M. Bosses at over 70 of the biggest fintech firms in the UK, including digital banks Monzo and Starling, payments [...]
PrimaryBid gets backing from SoftBank in $190m funding round February 21, 2022 London-based retail investment platform PrimaryBid has today closed a $190m funding round as readies to ramp up its growth across Europe and the US.
Payments fintech Storfund lures in Amazon executive to ramp up product development February 16, 2022 UK payments fintech Storfund has lured in an Amazon payments executive as it looks to accelerate its product development and ramp up growth into new markets this year.
Atom Bank mulls going public after £75m funding round February 16, 2022 Digital bank Atom Bank has closed a £75m funding round which values the firm at £435m as it gears up for a potential flotation on the stock exchange.