London FinTech startup WorldRemit raises $100m from Silicon Valley investors TVC and Accel Partners valuing firm at $500m February 18, 2015 WorldRemit, the London-based FinTech startup, has bagged a $100m (£65m) investment from Silicon Valley investors, valuing the firm at $500m. The series B funding round, from US venture firm Technology Crossover Ventures (TCV), along with existing backer Accel Partners, is the latest investment in financial technology firms emerging from the capital. The $100m backing from [...]
Why the Apple Watch should obliterate sales records for wearable tech February 17, 2015 Apple is banking on its new Apple Watch being a breakthrough device for the wearable tech sector after ordering between 5m – 6m units from its Asian supplier. An April launch date for the product has been set by Tim Cook who said in Apple’s earnings call last month that his “expectations are [...]
Apple just patented a virtual reality headset February 17, 2015 Apple has become the latest technology giant to jump on the virtual reality bandwagon, after it patented a design for a virtual reality headset that works by by plugging the iPhone into it. The tech giant is actually surprisingly late to this particular party: US Patent No 8,957,835, aka "Head-Mounted Display Apparatus for Retaining a [...]
The City and Silicon Roundabout lead Britain’s economic recovery February 16, 2015 London’s buoyant recovery is driving Britain’s economy forward, a study from RBS showed today. Inner-east London was the fastest growing locality in the country last year, expanding by 5.2 per cent. Next up was Milton Keynes at 4.9 per cent, followed by Aberdeen at 4.8 per cent. “Top of the class last year was London, driven [...]
Balfour Beatty sells £40m Thanet wind farm stake to Equitix February 16, 2015 Balfour Beatty has sold a £40m stake in its Kent wind farm business to infrastructure fund Equitix. The struggling firm has sold an 80 per cent stake in the Thanet Offshore Transmission Project it bought just two months ago for £164m. The wind farm, off the coast of Kent, is part of Balfour’s lucrative infrastructure [...]
Parking app Just Park now tapping crowdfunders for growth capital February 12, 2015 Just Park founder, Anthony Eskinazi, tells Oliver Smith, his clients will race to invest in the parking app Parking app Just Park, which hooks drivers up with parking space owners, will look to raise £1m through crowdfunding platform Crowdcube. The London-based startup, that enables you to find a space, book it and navigate to it, [...]
Apple and Pinterest partner to make app discovery easier February 12, 2015 The app store may have revolutionised the way we listen to music, read newspapers and order a cab, but there is one major problem with it which Apple hasn't addressed. Until now. Among the 1.4m apps, how do people find the app they’re looking for, and how do companies get their app into people’s hands? [...]
US investments in London’s tech sector soar to $795m February 10, 2015 Mayor Boris Johnson will reveal how US investors poured a record $795.2m (£521.7m) into the London technology sector last year, while speaking as part of a trade mission in New York this afternoon. The mayor will also reveal that one of the capital’s rising FinTech stars, Digital Shadows, has closed an $8m funding round led [...]
Finovate Europe: Global FinTech stars meet up at London’s Old Billingsgate February 10, 2015 London played host to a financial technology (FinTech) showcase yesterday as over 70 startups from around the world met at Old Billingsgate market for a showcase of their latest wares. Each presenting company at Finovate Europe was given seven minutes on stage to wow an audience of over 1,000 executives, venture capitalists, journalists, analysts, and [...]
Why FinTech is the key to a much-needed makeover in African aid February 10, 2015 Aid in Africa is big business, but one that is often mired in scepticism. Global companies pour money in through corporate responsibility programmes, alongside government aid, which can be accused of supporting private sector ambitions too closely. Some estimate that every £1 in aid costs the same to administer. This means that the sector is [...]