London-based Lendable tops £3.5bn valuation after fresh funding round March 10, 2022 London-based lending platform Lendable has announced a £210m funding injection today that pushes its valuation north of £3.5bn, as it looks to accelerate a push into new markets.
Network International sees 900 per cent profit surge under new CEO March 9, 2022 Network International saw profit surge more than 900 per cent last year, under a new Mastercard veteran CEO, as its new business momentum hits record levels. Profit rocketed to $56.5m in the year to 31 December, from just $5.5m in 2020, according to the payments firm’s latest financial results today. Network pulled in 17 new [...]
Money transfer fintech launches in London to take on Wise and PayPal March 9, 2022 A new money transfer fintech firm is looking to snap up market share from Wise and PayPal as it launches in London today with a fresh $4.5m round of funding.
Could quantum computing render blockchain obsolete? March 8, 2022 | City Talk ‘What happens when quantum computers become reality?’: one of my favourite moments at a cryptocurrency seminar last year was when someone asked this. After a long pause, the speaker said something akin to: “We will figure that out when we get there.” Let me explain. The premise of blockchain technology and the cryptocurrencies, non-fungible tokens [...]
PayPal freezes all services in Russia following Ukraine invasion March 5, 2022 PayPal is set to shutter all its services in Russia, according to its chief executive today, as the payments giant becomes the latest business to exit the country following its invasion of Ukraine. “Under the current circumstances, we are suspending PayPal services in Russia,” chief executive Dan Schulman said on Saturday. “PayPal supports the Ukrainian [...]
Web 3.0: The Wild West of the web March 3, 2022 A fresh dawn of internet is looming. Dubbed the ‘Wild West’ of the web, a new, decentralised and crypto-infused platform is looking likely to emerge within the internet as we know it.” Web 3.0 is becoming an increasingly hot topic with an enthusiasm to empower users and give them true ownership over their data while [...]
Minister throws support behind new £95m fund targetting UK software March 2, 2022 Venture capital firm Sure Valley Ventures has won the support of ministers today with a new £95m fund backed by state-owned British Business Bank, as it looks to target high growth software firms across the UK.
Revolut’s Russian-British boss condemns ‘horrifying’ war in Ukraine March 2, 2022 The Russian born boss of London fintech firm Revolut has condemned the ‘horrifying’ war in Ukraine as the bank committed to a series of measures to support civilians caught up in the conflict.
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 [...]