A grassroots crypto campaign just forced its way into the House of Lords. Now it wants to reshape British banking
Ford links up with London startup What3words for a new way to map the world February 26, 2019 Ford is ramping up its innovation plans as the US car giant today announces a partnership with London startup What3words. The tie-up means drivers will be able to link the What3words app, which has mapped out the globe into 57 trillion 3m-by-3m squares using unique three-word addresses, with Ford's in-car navigation system. The technology will reduce address input errors [...]
An appetite for business: Deliveroo doubles down on corporate eating February 25, 2019 Late night dinners around the boardroom table have become something of a staple in modern City life, particularly for those working in demanding sectors. Food delivery startup Deliveroo is readying itself to take full advantage of that, with plans to double staff numbers in its business teams to 200 globally by the end of this year. [...]
The number of new tech startups in the UK grew 14 per cent last year February 24, 2019 The number of new tech companies launched in the UK rose 14 per cent in 2018. Data from Companies House shows there were 11,864 software development and programming businesses incorporated in 2018, up from 10,394 companies the year before. London had the highest number of tech startups with 4,752, a 14 per cent increase. Read [...]
Picture perfect: Pinterest confidentially files for IPO in the latest up and coming tech float February 22, 2019 Pinterest has reportedly filed for an initial public offering (IPO), as Silicon Valley gears up for a busy year of tech startup listings. The online image search platform, known for the food and fashion photos its users post, is planning for a late-June listing and is seeking a valuation of at least $12bn, it is reported. Read [...]
Fintech startup Revolut pushes ministers for fast-track tech visas February 21, 2019 London will fall behind as a world-leading fintech hub if the government does not prioritise incoming tech talent, the chief executive of Revolut warned today. Nikolay Storonsky, a Russian native who started digital bank Revolut in 2015, called on ministers to introduce a fast-tracked visa process for technology workers, particularly within software development and data [...]
UK AI sector funding hits record £1bn for 2018, almost the same as the rest of Europe combined February 20, 2019 Investment into the UK’s artificial intelligence (AI) sector from venture capital firms reached a record $1.3bn (£998m) last year, almost as much as the rest of Europe combined. The new figures from Dealroom represent a fourfold increase in five years, up from a total of $200m in 2014. In comparison, French AI startups raised $400m last [...]
Autotech M&A deal value falls to five-year low in second half of 2018 February 20, 2019 Merger and acquisition value in the automotive technology sector hit a five year low in the second half of 2018 as car manufacturers struggled with dwindling demand in China and a global crackdown on emissions. A total of 100 M&A deals were completed in the second half of last year, including Renault, Ford and Volkswagen’s [...]
The Dutch ‘Brexit Snatch’: Why Azimo is not quitting the UK February 20, 2019 Have you heard the news? Azimo is one of 250 companies moving to the Netherlands in an alleged ‘Brexit Snatch’ by the Dutch government. Read more: London fintech startups poised to expand in Europe They say never let the truth get in the way of a good story but as the chief executive of Azimo, [...]
Chilango’s minibond offers 8 per cent interest – that’s tasty, but is the burrito bond right for you? February 19, 2019 Last October, the burrito chain Chilango made headlines when it launched a new bond aimed at retail investors that pays an eye-popping eight per cent interest per year for four years. Compared to most high street banks, which currently offer just one or two per cent on cash savings accounts (well below the rate of [...]
Former Google finance boss to head a venture capital office in London with $600m fund February 19, 2019 Former Google chief financial officer Patrick Pichette will lead a venture capital (VC) office in London with Canadian firm Inovia Capital. Inovia, which is also today announcing a $600m (£464.7m) fund for technology startups and entrepreneurs, said the office will back UK companies as well as create opportunities for North American firms to expand across the Atlantic. [...]