Barclays plugs $6m into London financial tech startup Simudyne April 8, 2019 Financial simulation technology firm Simudyne will today announce the close of a $6m (£4.6m) series A funding round, led by Barclays. Early Snap and Lyft investor Graphene Ventures also joined the round, alongside Gauss Ventures which has previously backed digital banks Revolut and Tandem. The round raises Simudyne’s total amount of investment to date to [...]
Kodak shows how to compete with startups if you’re a heritage brand March 25, 2019 The digitalisation of our world has given with one hand and taken away with the other. It has created opportunities for new companies, and made household names such as Amstrad computers and Woolworths entirely redundant. Technological advancements have facilitated the emergence of startups that thrive on disrupting traditional business models. However, the decline of established [...]
Omers launches €300m European venture capital fund March 25, 2019 Canadian pension fund Omers has launched a €300m (£257m) European venture fund based in London in a vote of confidence in the continent despite Brexit uncertainty. Omers Ventures, which has previously backed e-commerce platform Shopify and flight-booking app Hopper, plans to target the rise in start-up activity across Europe. Read more: Women-led startups win under [...]
DEBATE: Could France overtake Britain for tech investment? March 18, 2019 Could France overtake Britain for tech investment? Kat Borlongan, director of the French Tech Mission, says YES. There are number of misconceptions around doing business in France. A language barrier and extensive bureaucracy have perhaps deterred investors from funding some of the best tech startups, specialising in everything from artificial intelligence to smart cities. But these [...]
Investing in random group of startups secures better returns than firms backed by Dragons’ Den stars March 17, 2019 Investing in a random group of fast-growing firms could secure better returns than the companies backed by Dragons' entrepreneurs, according to the latest research. Publicly reported investments made by Dragons' celebrity judges, including Deborah Meaden, Peter Jones and Theo Paphitis, in 2011 and 2012 grew at an average rate of 16 per cent up to [...]
Get Your Guide to achieve unicorn status thanks to $50m Temasek backing March 13, 2019 Online travel firm Get Your Guide is set to achieve coveted unicorn status thanks to a $300m (£228m) cash injection from a group of investors, Sky News reported. The Berlin-based travel company is said to be in advanced talks with Singaporean sovereign wealth fund Temasek Holdings over a $50m investment that will be announced in [...]
Google paid $105m to two executives accused of sexual harassment March 12, 2019 Google paid a total of $105m (£79m) to two executives after they were accused of sexual harassment, according to court documents released last night. The lawsuit, filed by shareholder James Martin, confirms previous reports that Android creator Andy Rubin was paid $90m after he allegedly coerced sex from a colleague. Read more: Fintech superstar Marta [...]
Softbank unveils $500m Softbank Acceleration Fund March 11, 2019 Softbank has launched a new global tech fund with up to $500m (£384.68m) to pour into early-stage startups. Read more: Softbank's Vision Fund pump $940m into robotics firm Nuro The Japanese telecoms giant could launch the Softbank Acceleration Fund as early as next month, according to Reuters. The new fund – a rebrand of Seoul-based [...]
Revolut fights back: Nik Storonsky on negative press, growing pains and what’s next March 11, 2019 Revolut has endured a torrid start to 2019. Drawing the City watchdog’s attention after causing concerns by temporarily shutting down its sanctions screening system last year, the fintech starlet was revealed to have lost its finance chief, and drew further negative publicity when a customer complained of a bungled £70,000 payment. Its woes were compounded [...]
Women-led startups receive less than 10 per cent of venture capital funding March 8, 2019 Fewer than one in ten pounds invested in British startups go to women-run businesses, while one per cent of venture capital funding goes to companies run by only women, a new report has shown. Read more: International Women’s Day is a reminder to keep breaking down barriers A study from the Enterprise Investment Scheme Association [...]