Fintechs back digital pound arguing it will boost innovation and competition October 1, 2023 Fintechs are excited by the potential of a so-called digital pound arguing it will help spur innovation in the UK and create a more competitive payments environment.
Fintech platform Apron raises £12.2m in latest funding round September 28, 2023 Fintech firm Apron, a payments and accounting platform for small businesses, has raised $15m (£12.2m) in its latest funding round.
It’s not all doom and gloom, says London fintech chief citing ‘shoots of positivity’ September 27, 2023 London’s fintech sector is showing “shoots of positivity”, an industry chief said today as they sought to challenge the doom and gloom narrative surrounding the business environment in the City. Despite the loss of some major floats, the chief executive of Innovate Finance (IF), the industry body representing the UK’s fintech sector, said she was [...]
JP Morgan unit opens short bet against CAB Payments months after bank worked on IPO September 18, 2023 JP Morgan’s asset management arm has taken out a bet against CAB Payments just two months after the firm floated to great fanfare in the capital.
Clearbank ups profit and eyes US expansion – but it has no plans for an IPO September 14, 2023 Clearbank today reported a pretax profit of £5.9m for the first half of the year as it said it was eyeing an expansion into the US. Revenue more than doubled compared to the same period last year, reaching nearly £50m, while deposits increased 80 per cent to hit £5.4bn, the firm said. Clearbank said its [...]
Payally boss: Big Tech crackdown will kill London startups September 13, 2023 The UK needs to “loosen its grip” on Big Tech and steer away from copying the EU’s tough approach to the sector, the founder payments firm Payally has warned. “We need to be attracting big tech to London, not discouraging it,” Rafal Andzejevski told City A.M. “For right or for wrong, we left the EU, [...]
Zopa raises £75m debt as fintech bank eyes public markets debut September 8, 2023 Fintech lender Zopa Bank has raised a fresh £75m round of debt financing today to boost its coffers ahead of a much-anticipated float on the public markets. The London-based bank, which has been open about its ambitions for an IPO in recent months, said today it had raised £75m of tier-two capital through a ten-year [...]
More fintechs secure UK banking licences as Revolut struggles to get approval September 7, 2023 Two new challengers succeeded in securing banking licences from regulators today, raising more question marks for Revolut as it struggles to get approval from the City watchdogs.
SVB collapse and rising rates help fintech Clearbank double deposits in six months September 6, 2023 Clearbank has doubled its deposit base in six months as it benefited from rising interest rates and attracted new clients in the wake of Silicon Valley Bank's (SVB) collapse.
Exclusive: Bank of London crowned fastest-growing challenger amassing £300m since getting licence August 31, 2023 The Bank of London has amassed £300m in deposits within six months of taking client money, making it comfortably the UK’s fastest growing SME-focused challenger. Chief executive Anthony Watson said that the bank has been “inundated with demand” since exiting its regulatory restrictions in February this year. Businesses in Britain have been “under-served by both [...]