British identity startup Onfido quietly closes £4m funding from Augmentum Fintech March 6, 2019 Digital identity startup Onfido has quietly closed a £4m investment from Augmentum Fintech, City A.M. has learned. Documents published by the London-listed fund yesterday revealed the tie-up, which appears to be a one-off injection made last month ahead of an upcoming funding round for the company. Onfido, which makes technology used to verify customer identities [...]
Five fintech trends to watch in 2019 March 6, 2019 | City Talk There’s no shortage of stories on how tech breakthroughs will transform financial services, from changing the way we interact with our personal finances to threatening entire banking institutions with disruption. It can be difficult to predict exactly what this landscape will look like in the next few years, but most seem to agree that the [...]
Automakers and the tech giants are battling over the future of the car industry March 5, 2019 More than 100 years after the petrol-powered car passed go for the first time – and despite worldwide sales at a record high in 2018 – stress fractures are starting to appear. Tesla is on track to outsell both BMW and Mercedes-Benz in the US, car sales in China are declining for the first time in [...]
Revolut boss concedes to claims of ‘toxic culture’ at the startup March 5, 2019 The chief executive of London fintech startup Revolut said his firm “hasn’t always gotten things right” in an open letter late last night, after fresh allegations of a toxic culture at the company emerged last week. Former Revolut employees at both senior and junior levels described an environment of unpaid work, unachievable targets and high-staff [...]
London can strengthen its relations with Scotland March 4, 2019 On a brisk evening in January, I had the honour of hosting a Burns Supper at the Mansion House with the first minister of Scotland, Nicola Sturgeon. The night was complete with bagpipes, haggis, and of course a “wee dram” of whisky. The event brought together leading business figures from both sides of the border, [...]
KFC taps London fintech startup Flux for paperless payments March 4, 2019 KFC has launched a partnership with London fintech startup Flux which will see the US fried chicken chain go paperless. From today, users of digital banks Monzo and Starling, as well as select Barclays customers in the near future, will be able to receive digital itemised receipts for transactions in their banking apps when they [...]
Customers unable to access Revolut app after digital bank suffers outage March 1, 2019 Revolut customers were unable to use the digital bank’s app this morning after the firm suffered a technical glitch. The Revolut app was unable to process card top ups and money transfers for at least four hours today while the challenger bank attempted to fix the problem. Read more: Revolut pushes ministers for fast-track tech [...]
Snoop Dogg-endorsed fintech Klarna issues shares in £82m fundraising round March 1, 2019 Online payments firm Klarna has issued shares in a bid to raise 1bn Swedish krona (£82m) from existing investors, and said it will launch a larger external fundraising round later in the year. The Swedish fintech company, which in January welcomed a $2.5bn from none other than rapper Snoop Dogg, acquired a Swedish banking license [...]
Serial fintech entrepreneur Marta Krupinska focused on diversity as she relaunches Google for Startups UK February 28, 2019 Fintech entrepreneur Marta Krupinska has vowed to make diversity a priority as she takes over the reins at the relaunched Google for Startups UK. Read more: Revolut pushes ministers for fast-track tech visas Krupinska, who shot to fame after founding Azimo, the digital money transfer app, has been tasked with overseeing the Google project as [...]
Female fintech leaders highlighted as sector faces continued lack of gender diversity February 28, 2019 Senior figures at major banking and professional services firms including HSBC, Barclays, Schroders and Monzo have been recognised on a list of women excelling in Fintech. A total of 35 women including HSBC head of digital innovation Diana Biggs, Starling Bank founder Anne Boden and Monzo chief technology officer Meri Williams were highlighted on Innovate [...]