Fintech unicorn N26 under scrutiny from German banking regulator April 11, 2019 Digital banking starlet N26 is under scrutiny from German banking regulator Bafin, after reports emerged of fraudulent transactions and problems with the bank’s communications structure. Concerns about N26 were first reported in October by German newspaper Handelsblatt, before further inquiries by Bafin were said to have revealed numerous deficiencies at the fintech startup. N26, which counts Monzo, [...]
Softbank’s spinoff AI fund injects £1m into London identity startup Pixelpin April 11, 2019 Japanese investor SBI has led a pre-series A funding round into London startup Pixelpin through its artificial intelligence (AI) and blockchain fund. SBI has plugged £1m into the Shoreditch-based startup while angel investors rounded out the investment with an additional £500,000. The financial services firm span off from mega investor Softbank in 2006. Read more: Softbank unveils $500m [...]
Facebook and the tech giants are welcoming government regulation – that’s a panic signal for all of us April 9, 2019 Last year, I met someone who had previously worked for a big tech firm in its “free speech” unit. What had happened to make him come and slum it among us mortals in the (badly paid) policy world? Answer: the unit had been shut down. It’s in this context that you should see the milquetoast [...]
After Brexit, will Britain remain a land of opportunity? Apprentice star Mark Wright shares his views on startups and the economy April 9, 2019 Winning a reality TV show isn’t normally considered a recipe for success. The stars of such programmes usually end up plastered across the tabloids, followed by performing in a Christmas pantomime somewhere in rural England. But the BBC’s The Apprentice is an altogether different beast. With the backing of business mogul Lord Alan Sugar, the [...]
London startups to take fintech unicorn crown from San Francisco April 9, 2019 London is on track to become home to the same number of fintech unicorns as San Francisco, the world's current leader. Out of the 29 fintech unicorns globally – companies with a valuation of more than $1bn (£765.5m) – nine are based in the Californian hub, while seven are housed in the UK capital. Over a third [...]
London remains most popular investment target for European venture capitalists April 8, 2019 London secured its reputation as a global fintech hub as it attracted almost double the amount of venture capital funding compared to its closest European rival last year. The capital received 39 per cent of European venture capital funding last year, almost double that of runner-up Berlin, which took in 21 per cent in 2018, despite [...]
The government must pause for thought before pushing ahead with “online harms” regulations April 8, 2019 A common view of the world goes thus – individuals and businesses do whatever they can to pursue their own self-interest, and must be kept in check by governments. As certain companies get bigger and bigger, greater regulations are required. While not entirely without merit, this dichotomous standpoint is excessively blunt and can result in [...]
London tech startup Attest closes $16m from Groupon investor NEA April 8, 2019 Consumer growth platform Attest has secured a $16m (£12.3m) series A funding round from Silicon Valley-based investment firm NEA. Existing investors Oxford Capital and Episode 1 Ventures also participated in the round. London Bridge-based Attest said it would use the fresh funding to expand its technology platform, which is used by businesses to learn, measure [...]
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 [...]