UK fintech Zempler Bank snapped up for less than half previous valuation Fintech London-based fintech Zempler Bank has been snapped up by Nigeria’s biggest bank in a deal that has slashed the firm’s valuation, City AM can reveal. The small business lender – formerly known as Cashplus – has been acquired by The Access Bank UK with a price tag of around £3.45p per share. The sale represents [...]
Hackney tops London’s entrepreneurial boroughs for startup loans Entrepreneurship Startup founders in Hackney racked up the highest volume of loans in London as fleets of British entrepreneurs launched their business in the capital. Some 1,309 loans were taken out by founders in Hackney through the Start Up Loans initiative since its launch in 2012 topping £11.4m in value. The borough has benefitted from being [...]
Budget could hand economy £60bn if small businesses supported Business Small businesses could provide a £60bn injection to the UK economy if the Autumn Budget meets firm’s needs, fresh research has indicated. Fresh research from Barclays Business Prosperity Index showed small and medium-sized enterprises (SMEs) were playing it cautious ahead of the Budget, even more so than their larger corporate counterparts. Firms hit pause on [...]
Allica Bank makes major acquisition as it eyes £1bn SME lending goal October 22, 2025 Allica Bank is set to announce a fresh acquisition as the firm looks to beef up its lending capacity for small businesses, City AM can reveal. The digital bank has snapped up London-based fintech Kriya, which specialises in embedded finance and business loans. The takeover, set to be announced on Wednesday, marks Allica’s third acquisition [...]
High street banks’ SME lending comeback inches forward September 11, 2025 High street banks’ return to small- and medium-sized enterprises (SME) inched onwards in the second quarter. The big banks have turned back to the area as the government clamps down on smaller firms’ difficulty accessing finance. Top bosses were summoned earlier this year for talks with ministers covering how to improve lending to SMEs. In [...]
Clock ticking on Making Tax Digital as HMRC struggles to win over SMEs September 4, 2025 With six months until nearly 800,000 self-employed people and landlords join Making Tax Digital (MTD) for income tax, HMRC is intensifying efforts to get more taxpayers to test the system. But the numbers so far paint a sobering picture of the challenge ahead for the agency. Data revealed that 2,400 users have joined HMRC’s beta [...]
Starling Bank snaps up UK fintech firm in small business push August 19, 2025 Starling Bank has snapped up its UK fintech peer Ember in a bid to ramp up its services for small business customers. The London-based firm said as part of the takeover, Ember’s tax and bookkeeping software will be built into Starling’s app and online bank. The deal, which Starling did not disclose the price of, [...]
Firms face fresh fines for making late payments to small businesses July 31, 2025 Firms could be slapped with million-pound fines for late payments to small businesses in a new government effort to boost growth in local economies. As part of reforms aimed at supporting businesses with fewer than 50 employees, Keir Starmer has vowed to crack down on delayed payments “holding Britain back”. The Prime Minister said the [...]
Three big opportunities for SMEs in 2025 July 14, 2025 We've heard enough about the tough times for small businesses, here are three big opportunities all SMEs can go for, writes Emma Jones.
British Business Bank set on delivering Labour’s growth ambition June 28, 2025 Arguably one of the biggest winners from Chancellor Rachel Reeves’ latest spending splurge, the British Business Bank had its lending capacity beefed up and pledged to back the UK’s innovators with its expanded range. The bank had its funding capacity increased to £25.6bn in the Spending Review from near £15.6bn as it targets eight key [...]