KPMG opens virtual office in the metaverse for staff in US and Canada June 23, 2022 KPMG has set up an office in the “metaverse” for staff in the US and Canada to facilitate cross-border collaboration. The Big Four firm yesterday opened its first ever “metaverse collaboration hub,” with a view to letting staff work in an “immersive” virtual world. KPMG said its new virtual office will facilitate collaboration between its [...]
Payments firm SumUp hits €8bn valuation after fresh funding round June 23, 2022 London payments firm SumUp revealed it had bagged a $590m funding injection today as it looks to fuel a growth push and rollout new products this year.
Klarna boss slams Barclays for ‘mind boggling’ and ‘irresponsible’ BNPL research June 23, 2022 Klarna’s UK boss has hit out at Barclays today for publishing what he called “mind-boggling” and “irresponsible” research exploring mounting buy-now pay-later debt levels in the UK. Barclays Partner Finance – a division of the bank which offers its own regulated buy-now pay-later-style financing product – issued research today alongside debt charity StepChange warning that [...]
B2B buy-now pay-later firm Playter eyes international push after $55m funding injection June 22, 2022 London-based buy-now pay-later firm Playter said it is eyeing up new international markets with its B2B product today after announcing a $55m funding injection.
BNPL set to hit $607bn by 2026 despite regulatory scrutiny, analysts predict June 21, 2022 The global buy-now pay-later credit market will swell to $607bn by 2026 despite increased regulatory scrutiny of the sector, analysts have predicted.
UK firms risk hamstringing FCA with information overload, former top official warns June 21, 2022 UK firms risk hampering decision making at the City’s top regulator by overloading it with unnecessary information, a former top Financial Conduct Authority official has warned.
Watchdog set to review fees charged by Visa and Mastercard June 21, 2022 The UK’s top payments regulator has set out plans for two wide ranging reviews of Visa and Mastercard’s operations in the UK today amid concerns over soaring card fees.
Klarna looks to raise cash at slashed valuation of $15bn June 17, 2022 Buy-now pay-later giant Klarna is looking to raise fresh cash at a slashed valuation of $15bn, according to news reports.
Fintech Cleo raises additional $80m following backing from Brussels investor Sofina June 16, 2022 UK financial app Cleo has raised an additional $80m following backing by Brussels tech investor Sofina. The funding round took place over months but was finalised following pressure on valuations of growth companies, Sky News first reported. Sources close to the deal told the outlet’s City editor Mark Kleinman that the backing raised Cleo’s valuation [...]
Monzo poised to press on with crypto plans, co-founder says June 16, 2022 Monzo is likely to double down on its crypto investment plans despite a looming ‘crypto winter’, its co-founder said today.