Draper Esprit and Barclays back London fintech Form3 in $13m funding round November 20, 2018 Payments technology fintech startup Form3 will today reveal the close of a $13m (£10.1m) series B fundraising round, led by Graze and Perkbox-backer Draper Esprit. Existing investors Barclays Bank, Angel Cofund and several other individual backers also participated in the round. Established in 2016, the Monument-based startup builds payments-processing technology for banks and fintech firms [...]
Tax managers enjoy largest salary rise as tougher compliance regulation pays off November 19, 2018 Tax wonks have seen their salaries soar over the last year as businesses grapple with tougher compliance rules in the City. Operational tax managers topped the list of salary increases in 2018, enjoying a 6.7 per cent rise, according to figures from recruitment company Hays. The increase reflects the greater focus on compliance as firms [...]
Monzo needs a dose of Spotify boldness to go from UK unicorn to Silicon Valley titan November 15, 2018 The end of October saw startup bank Monzo confirmed as the latest British unicorn, hitting a valuation of $1.2bn three years after launching. This isn’t London’s first unicorn by any means, with Deliveroo and Funding Circle leading the way. But so far none have come close to the achieving the global domination or $100bn valuations [...]
Transferwise repackages its business banking with a debit card November 14, 2018 Fintech unicorn Transferwise is today relaunching its business banking effort to include a debit card, integration with accounting platform Xero and an open access developer channel. The newly-revised business product will provide a Transferwise Business debit card for spending both online and in-store in 45 currencies, in addition to its previous offering of local bank details [...]
CYBG axes deal with former Barclays boss following Virgin Money merger November 12, 2018 The new owner of Virgin Money has cancelled the bank’s partnership with a technology company run by former Barclays chief executive Antony Jenkins. CYBG, which also owns Clydesdale and Yorkshire Bank, axed the deal following its £1.7bn takeover of Virgin Money in September, Sky News reported. Virgin Money had hired Jenkin's fintech start up 10X [...]
Stop blaming Brexit for a brain drain November 12, 2018 Brain drain. Talent drain. The only thing that is truly draining ahead of March 2019 is hearing tech leaders use Brexit as an excuse for not being able to build a great team. As any founder knows, staff are the beating heart of the company and the most vital asset that you have. Tech Nation’s [...]
Embracing digital technology will help the City to shape the future of the UK November 12, 2018 As the 691st lord mayor of the City of London, I follow a long continuum dating back to 1189, before the Magna Carta. My focus over the next 12 months will be on how the City can help shape the UK’s future. In the eighteenth and nineteenth centuries, British innovations such as railways, cotton mills and [...]
Peer-to-peer currency exchange Weswap to list on Aim as it targets international expansion November 11, 2018 Peer-to-peer currency exchange platform Weswap will float on London’s AIM next month, the company announced today, as it targets international expansion. The UK fintech firm is aiming to raise between £15m to £20m, upping its market capitalisation to around £45m, to expand into the European and Asian market. It is also seeking to develop new [...]
Fintech startup Monese crashes a ‘Brexit meteorite’ in front of London’s King’s Cross station November 8, 2018 London-based digital banking fintech startup Monese today unveiled its Brexit warning to UK consumers, as its Meteorite sculpture smashes into the ground in front of King's Cross station. The installation is designed to pique the interest of passersby on what life could be like post-Brexit. It was claimed in September that the UK will be the last [...]
Former Vitality boss picks up £3m from Zoopla backer Localglobe November 8, 2018 Transferwise, Citymapper and Zoopla backer Localglobe will today reveal its latest investment into Yulife, a lifestyle insurance and rewards startup founded by Sammy Rubin, the former chief executive of insurance giant Vitality Life. Fintech investor Anthemis and Ourcrowd also joined the round, with AIG coming on board to underwrite all policies. Launching today in the UK, [...]