Allica lands £350m in British Business Bank scheme aimed at fintechs Fintech Allica Bank has bagged lending backing from the UK’s state-owned economic development bank, in a scheme designed to bolster high-growth challengers that lend to small businesses. The London-based fintech – which sealed its status as a $1bn unicorn earlier this year – has landed £350m in the British Business Bank’s new ENABLE Guarantee scheme, City [...]
Klarna swings back to profit after delivering second $1bn quarter Fintech Klarna has sealed its first quarterly profit since its blockbuster IPO last year as the firm’s cost-cutting pays off. The Swedish fintech unicorn booked a $17m profit in the first quarter of the year, marking a swing from a $90m loss in the prior year. The return to the black was driven by a 44 [...]
‘Dual squeeze’: FCA approvals for e-money licences plummet Fintech The number of successful applicants for e-money licences has plummeted in the last few years raising further questions over a slow down in market growth. Fresh figures – revealed in a Freedom of Information request by financial regulation consultancy Pathlight Associates – showed just 35 applicants were able to bag an electric money institution (EMI) [...]
‘Inflection point’: Challenger banks loan growth halved in 2025 May 5, 2026 Challenger banks have reached an “inflection point” after loan growth across the industry halved in the last year, a fresh report has warned. New analysis from Big Four firm EY showed lending growth across UK challenger, specialist and digital banks slowed to 4.5 per cent in 2025, down from 8.9 per cent. This came as [...]
Monzo lost one current account switcher for every two gained in 2025 April 30, 2026 UK fintech darling Monzo lost one current account switcher for every two it gained last year. The neobank registered just over 20,000 new switchers in the final quarter, but over half of this was offset by the 11,000 thousand outflows. The picture for the final few months of the year mirrors the picture for the [...]
Banking on a storm: Natwest weathers first of AGM climate rows April 29, 2026 Natwest faced a prickly time in its Edinburgh AGM and in this week’s column Samuel Norman looks at whether fun and games could be in store for its peers. Also on the agenda this week – Revolut heads for some Spanish sun. Natwest chair Rick Haythornthwaite suffered a thorny reception on Tuesday at the bank’s [...]
Airtel eyes fintech IPO spin off in $10bn boost for London market April 28, 2026 British telecommunications giant Airtel is mulling listing its mobile money business on the London Stock Market in what could be one of the largest public debuts on a European exchange in years. Airtel Money – a digital commerce service that allows users to store money, transfer funds and buy mobile data – is said to [...]
A ‘safe harbour’? London needs more ambition than that April 28, 2026 Boring stability might win London short-term preference, but it won't see us win the race for any bigger prizes, writes Janine Hirt.
Macquarie ups stake in Argentex founder’s fintech as it clinches licence April 28, 2026 Macquarie has built up its stake in a London-based foreign exchange fintech after the firm clinched a new permit from the City watchdog. The financial services giant has increased its holdings in Tenora to 33 per cent. It follows the fintech bagging Macquaire’s investment last summer in fundraise that valued the start-up at £15m. The [...]
Bank of London: Peter Mandelson-backed fintech sees losses widen April 27, 2026 The Bank of London’s parent company had made another steep loss in fresh accounts that were delayed for the second consecutive year. The embattled clearing bank’s parent company, Oplyse Holdings, made a loss of £46.9m in 2024, bringing the firm’s cumulative deficit to £167.7m. Fresh accounts for Oplyse Holdings – which was formerly known as [...]