Facebook-backer Index Ventures leads $4m series A for UK legal startup May 28, 2019 Seedlegals, which helps UK startups automate the fundraising process, has secured $4m (£3.2m) in funding from one of the world's most successful venture capital firms. San Francisco and London-based Index Ventures led the series A funding round, putting Seedlegals among the likes of Facebook, Just Eat and Slack in its portfolio. Additional participation was provided by Kima Ventures, [...]
Salesforce’s venture capital arm raises second European tech fund at $125m May 23, 2019 The venture capital arm of Salesforce has closed its second fund for European tech startups at $125m (£98.7m), with a renewed focus on enterprise cloud. Salesforce Ventures said it was the most active corporate VC in Europe last year, making investments across the spectrum in digital payments, artificial intelligence, and blockchain. It follows the software giant's [...]
Banking unicorn N26 rapped by German regulator in money laundering probe May 22, 2019 Digital banking startup N26 has been ordered by the German banking regulator to step up its anti-money laundering policies, after a probe found the fintech firm was deficient in several areas. Bafin said today it has issued an order against N26 to "take appropriate internal safety measures" in order to comply with rules on customer due [...]
Transferwise becomes Europe’s most valuable fintech at $3.5bn valuation May 22, 2019 Money transfer service Transferwise today announced the completion of a $292m (£230m) share sale, making it Europe’s most valuable fintech company at $3.5bn. Read more: UK named world's top fintech hub as startups rake in £4.5bn Existing investors Andreessen Horowitz and Baillie Gifford expanded their holdings in Transferwise, while investment was also provided from funds [...]
The future looks bright for university graduates May 21, 2019 This month, university students across the country are being tested on their chosen field of study. As if the exam season weren’t stressful enough, final-year students also have to deal with acute cases of so-called employability anxiety. This generation is already described as the “most anxious in history”, so adding extra stress makes for a [...]
Mobility software firm raises $4.6m from Amadeus and Global Brain May 21, 2019 Artificial intelligence mobility startup Immense Simulations has closed its series A funding round at $4.6m (£3.6m), after spinning out from the government’s Catapult tech programme in 2016. The round was co-led by Amadeus Capital Partners, previously named one of Europe’s most active AI investors, and Japanese venture capital giant Global Brain. Additional investment was provided [...]
Tencent backs top AI startup in $24m injection May 20, 2019 A host of major businesses and venture capital firms have joined in a $24m (£18.9m) funding round for a Prowler.io, valuing the Cambridge artificial intelligence (AI) startup at $100m. Chinese media giant Tencent led the round, with publishing house Pearson and Monzo-backer Passion Capital also joining. Other investors included Amadeus Capital Partners, Atlantic Bridge, Cambridge [...]
Nigel Vaz shares his agenda as the new president of the Institute of Practitioners in Advertising May 20, 2019 When Nigel Vaz was offered the role of president of the Institute of Practitioners in Advertising (IPA), it took him almost a week to decide whether or not it was a responsibility that he wanted to take on. The IPA represents and supports the marketing sector. It’s the industry’s professional body, incorporated by Royal Charter, [...]
Fintech startup Wagestream picks up £15m from Balderton and Northzone May 20, 2019 London fintech startup Wagestream has today closed a £15m series A funding round, co-led by venture capital investors Balderton Capital and Northzone. The round was raised in addition to a credit facility of up to £25m Shawbrook Bank. At £40m, Wagestream chief executive Peter Briffett said the total amount raised marks the largest single social impact [...]
Monzo hits 2m customer milestone as fintech race heats up May 20, 2019 Digital banking darling Monzo's current account is set to surpass 2m customers today, as it races to catch up with London rival Revolut. The two fintech startups have been locked in an intense race to command market share in the nascent mobile banking sector, as well as to expand overseas. Read more: Monzo to roll [...]