UK fintech startup Weswap pulls the plug on 2018 London IPO plans December 11, 2018 Peer-to-peer currency exchange platform Weswap has scrapped plans to list on London’s Alternative Investment Market (Aim) this month, after investor interest fell flat. Sources told City A.M. that the initial public offering, which had been mooted for a December launch, had failed to garner sufficient attention in what was promised to be a relatively small [...]
London’s shared workspace market is helping women to become business leaders December 11, 2018 London's flexible office market is growing. The last 18 months have seen a huge influx of startups and scaleups moving into these spaces, which cater to people who want more than just a part-time desk in order to be productive. To learn more about the appeal of shared workspaces, we commissioned an Economic Impact Report [...]
Culture and creativity will drive a new golden era for the UK and China December 6, 2018 The strength of Britain’s technological and creative industries, combined with the longstanding value of its archetypal brands, has given rise to a growing desire among Chinese companies to invest in the UK. This follows on from the strong trade ties between the two nations. The UK exported £22bn worth of goods and services to China [...]
UK investors warn tech giant regulation could harm startups December 5, 2018 UK investors are concerned legislation aimed at tech giants could have a damaging impact on startups, a new survey has revealed. A report published by the Coalition for a Digital Economy (Coadec) found 86 per cent of UK investors believe the principle of designing policy and legislation to target global giants could inadvertently hurt tech [...]
Digital Withdrawal: How Britain’s fast-growing tech sector can flourish in the face of Brexit December 2, 2018 The last five years have seen an extraordinary phenomenon. The powerhouse that is the UK tech sector has boomed to a value of more than £180bn, outpacing the sluggish UK economy as a whole. Want to buy clothes online? Asos and FarFetch are leading the world. Play games on your smartphone? You’ve probably enjoyed one made [...]
Qualcomm unveils $100m AI startup fund as tech companies race to invest in sector November 29, 2018 US telecoms firm Qualcomm has launched a $100m (£78.3m) fund to invest in AI startups in a bid to promote new technology for self-driving cars and robots. The Qualcomm Ventures AI Fund will focus on firms that are developing “on-device AI”, as the telecoms company looks to spread the use of the new technology on [...]
Revolut to launch in Japan and Singapore, as US expansion experiences further delays November 29, 2018 Fintech startup Revolut has received authorisation from regulators in Japan and Singapore, operating under a licence similar to its UK business through partnerships with local banks. The banking app hopes to launch in the Asia Pacific region in the first quarter of next year, with over 50,000 users already on its waiting list. The news comes [...]
Tech leaders to pressure European politicians to revise ‘archaic’ laws November 28, 2018 More than 30 business leaders and entrepreneurs from across the technology industry have signed a letter to be delivered to European policymakers in January, urging them to consider updating EU laws on giving employees shares in the startups they work for. With signatories including the bosses of firms such as Transferwise, Delivery Hero, Anthemis and [...]
Vita Mojo shakes things up with a £10m series A fundraise, backed by Investec November 28, 2018 Healthy food-focused restaurant chain Vita Mojo has raised £10m in a series A fundraising round led by Investec Bank, as it heads for expansion. The firm said it is now "coming out of stealth mode" to help other businesses with its technology, having already signed up a few major customers such as Virgin Active, Chilango and Wokit. [...]
Entrepreneurs should be selective with their investors November 27, 2018 It’s not a secret that London is the fintech capital of Europe. Startups and tech entrepreneurs can flourish here because of the concentration of world-class financial services, and the access available to funding from a variety of key players. However, the nature of investment in tech startups is undergoing a process of significant and positive [...]