LendInvest: Property fintech brings Lloyds funding deal to £300m for mortgage market push January 17, 2023 LendInvest has secured a new £120m funding boost from Lloyds Bank today as it prepares a push into the UK’s £1.2tn homeowner mortgage market for the first time. The London-listed property fintech firm said Lloyds had now offered up a credit facility worth £300m after striking a deal for an initial £180m in October to [...]
Joseph Pinto joins M&G as asset manager adapts to meet evolving client needs January 17, 2023 M&G has appointed industry veteran Joseph Pinto as chief of its asset management arm today amid a period of change at the top for the FTSE-100 investor.
Wise: Money transfer firm hikes guidance as interest rates push up profits January 17, 2023 Money transfer firm Wise hiked its guidance for the full year today as rising interest rates cause a surge in the amount of cash it is making on its customer deposits.
Revolut builds ‘CultureLab’ to shake off workplace criticism January 16, 2023 Revolut is putting together an internal “CultureLab” to oversee its staff’s behaviour as it looks to win over regulators and address its reputation as a cut-throat workplace. The $33bn fintech firm has been beset by criticism over its poor corporate culture leading to a wave of staff exits over the past two years, including in [...]
Crypto: What to expect as world leaders gather in Davos January 16, 2023 The future of global crypto regulation is set to fall into the spotlight at Davos this week as regulators and policy makers scramble to shore up the industry in the wake of FTX’s collapse last year.
Ashmore predicts rebound in taste for emerging market risk as assets tick £1bn upwards January 16, 2023 Emerging markets specialist Ashmore expects investors’ risk appetite to roar back amid slackening Chinese covid restrictions and a rebound in developing economies. In a trading update, London-listed Ashmore said total assets under management jumped two per cent to $57bn (£47bn) in the final three months of 2022, up from $56bn at the end of the [...]
Odey profits halve to £18.8m as performance fees dry up January 16, 2023 Hedge fund boss Crispin Odey saw profits at his eponymous hedge fund more than halve last year after performance fees for the firm plunged, new filings reveal.
No Amigos: Controversial credit shop Amigo struggling to raise cash, firm says January 16, 2023 Beleaguered credit firm Amigo said it was struggling to raise cash from investors today as it scrambles to boost its balance sheet ahead of a planned full return to lending this year.
Cashed-up banks ready to buy UK fintech firms on the cheap in 2023, says VC chief January 15, 2023 The UK’s fintech sector will see a wave of acquisitions this year as cashed-up banks and investment firms will swoop in to buy struggling firms on the cheap, a top venture capital chief has predicted. Tim Levene, chief of London-listed venture vehicle Augmentum Fintech, said that banks had failed to properly digitally transform over the [...]
FTX: Crypto exchange’s bankruptcy team recovers over £4bn in boost for burnt customers January 12, 2023 Collapsed crypto exchange FTX has recovered more than £4.1bn ($5bn) in assets, its bankruptcy team said yesterday, as the firm scrambles for cash to cover the billions of dollars lost by customers and investors. FTX, founded by disgraced former billionaire Sam Bankman-Fried, was valued at $32bn just over a year ago but imploded in early [...]
