Fintech unicorn council joins Revolut and Zilch bosses for Treasury meeting March 18, 2025 Britain’s top fintech officials met Rachel Reeves on Tuesday morning in the Chancellor’s latest financial summit to boost economic growth. The co-chairs of Innovate Finance’s Unicorn Council for UK Fintech joined leading executives at the Treasury’s meeting, City AM has learned. The council, which launched in March 2024, aims to provide the government with policy [...]
British fintech unicorn OakNorth acquires US community bank March 17, 2025 OakNorth, the British digital banking unicorn, has acquired a US community bank as it eyes overseas expansion. The firm announced on Monday it had agreed on a stock-for-stock transaction for Michigan-based Community Unity Bank (CUB). The acquisition is subject to regulatory approval and follows the Federal Reserve and New York State Department of Financial Services [...]
HSBC Innovation Banking bets £30m on fintech Clearscore February 25, 2025 HSBC Innovation Banking has backed global fintech Clearscore lending £30m in debt financing. After first partnering in 2017, the fintech said the continued support of the bank will help drive further business growth across domestic and international markets. Clearscore credited the lender for its “vital role in its global expansion” with the financial marketplace now [...]
UK fintech investment hits four-year low February 18, 2025 Fintech investment in the UK had another sluggish year with new data showing it sunk to a four-year low in 2024. KPMG’s bi-annual fintech report showed UK fintech investment fell by 27 per cent to £7.9bn last year, down from £10.1bn in 2023. Despite this, the UK managed to scoop up more funding than France, [...]
London named Europe’s ‘unicorn capital’ for fintechs February 13, 2025 London leads Europe in fintech ‘unicorns’, a title given to privately-held startups valued at over $1bn, reinforcing its dominance as a global breeding ground for tech unicorns. According to Hurun’s latest index, nearly 80 per cent of the UK’s unicorns and future unicorns are based in London, with fintech being the most dominant sector. Of [...]
UK risks being ‘incubator economy’ with tech firms moving abroad, Lords warn February 3, 2025 The UK is at risk of becoming an “incubator economy” with tech firms moving abroad, if action is not taken to support companies to scale up, a group of Lords has warned. Britain must do a better job supporting UK-based artificial intelligence (AI) and creative technology start-ups to grow into global competitors, the House of [...]
Zopa Bank hunts for fintech acquisitions after £68m fundraise December 6, 2024 Zopa Bank is on the hunt for acquisitions as the digital lender looks to step up its challenge to the likes of Revolut, Monzo and Starling ahead of a potential float on the London Stock Exchange. The London-based fintech, which launched as a fully licenced bank in 2020, said on Friday it had raised €82m [...]
Former fintech ‘unicorn’ Truelayer laid off a quarter of staff in one day November 15, 2024 Former fintech ‘unicorn’ Truelayer laid off roughly a quarter of its workforce in a single day as part of an effort to slash costs and become profitable, City AM can reveal. The London-based firm axed 71 roles at the end of September a week before announcing a $50m funding round that lowered its valuation, according [...]
Five fintechs on the verge of unicorn status August 13, 2024 The fintech sector is experiencing lightning growth, with a number companies on the brink of joining the coveted unicorn club – a title given to privately-held startups valued at over $1bn. According to recent data from Crunchbase, analysed by investment bank Panmure Liberum, a handful of fintech firms are leading the charge, with valuations upwards [...]