Carne Group bags €100m investment from London private equity firm January 13, 2021 Irish financial services firm Carne Group has secured funding from a London-based private equity firm that has backed the likes of Darktrace and Just Eat. Carne Group, which is the world’s largest third-party fund management company, announced it had received a €100m investment from Vitruvian Partners. The fresh funding will be used to expand the [...]
Visa and Plaid call off merger following regulatory challenge January 13, 2021 Visa and Plaid have called off their $5.3bn deal after an antitrust lawsuit threatened to scupper the deal. Visa announced it was buying the fintech this time last year in one of the biggest fintech deals ever. But on Tuesday both parties announced they had agreed to mutually end the agreement after regulatory opposition. In [...]
Market gains aid Charles Stanley’s pandemic recovery January 13, 2021 Wealth manager Charles Stanley benefited from the strong markets seen at the end of last year, adding more than £2bn to its assets. In a third-quarter trading update, the London-listed firm reported that net inflows had increased just £0.1bn. But market improvements helped drive a more than £2bn growth in its overall assets, to £25.1bn [...]
Blackrock still invests in $85bn worth of coal assets despite sustainability pledge January 13, 2021 It is almost a year since Blackrock’s chief executive warned about the climate crisis, but new research reveals that $85bn worth of its managed assets remain exposed to the coal sector. In his annual letter to CEOs last year, Larry Fink said climate change had become a “defining factor in companies’ long-term prospects… I believe [...]
Robert Walters: We stand to benefit from any Brexit repercussions January 12, 2021 Leading recruitment boss Robert Walters has said that despite a challenging year the firm stands to benefit from any Brexit repercussions because of its wide geographic reach. The FTSE 250 firm has offices across the world with a strong presence in Asia, where performance has improved in recent months. Its trading update published today showed [...]
Financial services M&A dips as management shifts priorities January 12, 2021 M&A in the UK’s financial services industry dropped amid the pandemic as management’s priority shifted away from deals to the preservation of cash. The UK financial services industry announced just 136 deals in 2020 down from 211 in 2019, according to exclusive EY data. Deal activity came to a near standstill at the start of [...]
Fintech Curve closes $95m Series C round as it eyes US expansion January 12, 2021 London-based fintech Curve has secured $95m in its latest fundraising round to fuel its expansion into the US and launch a new credit product. Founded in 2015, the startup allows users to consolidate all their credit and debit cards into one smart card and app. The Series C round was led by IDC Ventures, Fuel [...]
Checkout.com valuation reaches $15bn after latest fundraising round January 12, 2021 London payments firm Checkout.com has tripled its valuation to $15bn following a $450m Series C fundraising round. The round, which makes Checkout the fourth largest fintech globally, was led by New York-based Tiger Global Management, joined by Greenoaks Capital and existing investors including Insight Partners and DST Global. Payments has been one of the leading [...]
Government releases £800m of dormant funds for pandemic recovery January 9, 2021 The government will release dormant assets from across the insurance and pensions sector to expand its coronavirus recovery efforts. The Department for Digital, Culture, Media and Sport has today announced the expansion, which will also secure assets from the investment, wealth management and securities sectors, could unlock over £800m. Funding raised through the expansion of [...]
Joe Biden unveils key economic appointments to his Cabinet January 8, 2021 Joe Biden has unveiled his picks for key economic roles in his administration including Boston Mayor Marty Walsh. Biden has opted for longtime union member Walsh who he has a longstanding relationship with to be his Labor Secretary. Walsh was also reportedly a rumoured potential pick for Hillary Clinton had she won the presidency in [...]
