Coinbase plans for Brexit with Irish expansion October 16, 2018 Cryptocurrency exchange Coinbase will today unveil the first stage of its Brexit contingency plans, opening up a secondary office in Dublin while preserving the heart of its operations in London. The new office, which will primarily house mostly support staff, is intended to act as the company’s European base as the UK prepares to exit [...]
UK startups hold onto Europe’s venture crown with £1.4bn in funding October 11, 2018 UK startups continued to draw in attention from venture capital (VC) firms in the third quarter as Europe’s premier investment hotspot, posting a £1.4bn total draw in the three months to September compared to £1.31bn in the same quarter last year. Data compiled by KPMG Enterprise revealed the UK remained at the top of the [...]
Investor demand for environment-friendly firms is becoming ‘phenomenon’ says top Barclays banker October 11, 2018 Demand for investments in businesses pursuing environmentally and socially responsible aims is building up unstoppable momentum, according to a top banker at Barclays. Joe McGrath, global head of banking at the British bank, says the growth of environmental, social, and governance (ESG) concerns in business has become a “phenomenon” in the last five years. ESG [...]
London VC firm Mosaic Ventures closes $150m second fund for startups October 8, 2018 London-based venture capital (VC) firm Mosaic Ventures has today announced the close of its second fund, Mosaic II, at $150m (£115m) for startups across the capital and beyond. Intending to cut cheques at series A-stage for between $3m and $7m, Mosaic Ventures has previously backed the likes of London automated mortgage broker Habito, crypto wallet Blockchain and period-tracking app [...]
Founder syndrome: Are you suffering? October 5, 2018 When you start a new business, there is an expectation that your leadership will be marked by certain qualities – purpose, authenticity, and a lack of hierarchy. In the modern era, those leading tens of thousands of people, in businesses that were founded decades ago are now expected to display those same qualities. In a [...]
DEBATE: Can traditional small-state conservatives justify imposing a new digital tax? October 3, 2018 Debate: Can traditional small-state conservatives justify imposing a new digital tax? YES, says Waqar Riaz, head of data-driven marketing at Cheil Europe. Few can argue with the idea that big business should pay its fair share towards public services like the NHS or education. Yet, as business has become increasingly global in nature, legislation has failed to [...]
Healthtech startup Locum’s Nest scores £4.1m backing from Albion Capital October 3, 2018 Locum’s Nest, a startup which acts a recruitment agency for doctors in hospitals, has landed a further £3m in funding from London backer Albion Capital and IDO Investments, taking its total amount raised to £4.1m. The Hammersmith startup, which connects doctors to work on-demand in healthcare organisations in both the private and public sectors, operates [...]
John Lewis Partnership taps London startup CupClub for reusable cups trial October 3, 2018 John Lewis Partnership has announced a collaboration with London startup CupClub, which will see the subscription service trialled within the business. CupClub was selected alongside three other startups who were chosen from more than 100 applications to John Lewis Partnership's JLab retail innovation programme, which in this iteration was dedicated to reducing plastic waste. The London startup [...]
Funding Circle shares fall over 20 per cent on first day of trading October 3, 2018 London fintech hopeful Funding Circle took a hammering on its first day of trading on the London Stock Exchange today, falling at one point more than 24 per cent below its initial price target. Shares in the peer-to-peer lender fell as low as 334.5p in mid-morning trading, down from its listing price of 440p. Read more: Funding Circle [...]
Airbnb reveals its UK tax bill amid Tory calls for a digital services tax October 2, 2018 Airbnb paid just shy of £600,000 in UK tax last year, City A.M. can reveal, as chancellor Philip Hammond raises calls for a unilateral digital services tax on tech firms. In financial accounts seen by City A.M. and due to be published on Companies House later this week, Airbnb paid just £596,992 in corporate tax in the year [...]