Motherhood social app Peanut nets $5m from Facebook backer Index November 14, 2019 Peanut, a social networking app for mothers, has secured $5m in a funding round led by unicorn hunter Index Ventures. The investment takes Peanut’s total amount raised to date up to $9.8m, with previous backers including Felix Capital, actor Ashton Kutcher’s Sound Ventures and Greycroft. Index has previously invested in the likes of Dropbox, Facebook [...]
London startup Zego gains first ever licence for UK insurtech November 12, 2019 An insurance startup aimed at the gig economy today said it is the first insurtech firm in the UK to secure an insurance licence. Zego, which offers flexible insurance to freelance workers such as drivers for Uber or riders for Deliveroo, said it was awarded the licence by the Gibraltarian regulator. Chief executive Sten Saar [...]
Revolut investor Balderton Capital unveils $400m seventh fund November 12, 2019 One of London’s biggest venture capital players has today debuted its seventh early-stage fund for European startups at $400m (£311.1m), after a mooted lack of investor interest as the UK prepared for Brexit failed to materialise. Balderton Capital, an early backer in the likes of Revolut, Citymapper and Lovefilm, said the new fund will continue [...]
London gym 1Rebel unveils at-home Peloton competitor November 11, 2019 City gym studio 1Rebel has revealed a collaboration with equipment provider Technogym to take its rivalry with US fitness giant Peloton to the next level. 1Rebel is expanding into the at-home gym market, partnering with Technogym to develop an exercise bike and a wealth of both live and pre-recorded spin classes for fitness enthusiasts. Since [...]
London startup founded by NHS manager secures £9.1m injection November 11, 2019 Visionable, a healthtech startup co-founded by a former NHS manager and independent peer Lord Victor Adebowale, has today revealed its series A funding round at £9.1m. The raise was led by West Hill Capital, which valued the business at £47.6m. Visionable provides doctors, paramedics and others in the NHS with video conferencing software specifically designed [...]
KKR to target record $15bn in Asia-focused buyout fund November 7, 2019 Private equity giant KKR is said to be targeting a record $15bn (£11.7bn) raise for its planned Asia-focused buyout fund. The fundraising is set to begin early next year, with the aim of reaching its first close — the minimum threshold to make investments — by June, people familiar with the matter told Reuters. The [...]
Peer-to-peer lender Zopa makes banking debut as pressure mounts November 7, 2019 Zopa, one of the UK’s three largest names in peer-to-peer lending, is to launch its first foray into banking after receiving partial authorisation last year. The debut comes as the peer-to-peer sector is facing scrutiny from regulators and falling demand from investors, placing pressure on the likes of Zopa and its rivals. The firm said [...]
New technologies to gain funding boost over next five years November 5, 2019 Nascent technologies such as quantum computing, blockchain and artificial intelligence (AI) are set to receive significant attention from British businesses over the next five years, new research has found. The amount of firms set to invest in quantum computing is to nearly triple from 11 per cent today to 32 per cent in five years, [...]
Facebook launches corporate rebrand amid antitrust concerns November 4, 2019 Facebook has today unveiled a rebrand for the parent company, in an effort to help users understand what apps and companies the tech giant owns and operates following pressure from regulators and politicians. From now on, apps such as Instagram and Whatsapp will show a more prominent “From Facebook” tagline, with a new logo developed [...]
German and British scaleups go head-to-head in tech funding wars November 4, 2019 Tech scaleups in the UK and in Germany are leading the way for European late stage funding, locked in a battle to see which country will come out on top for 2019. The two nations have pulled ahead of the pack in terms of mega rounds — injections of €100m (£86.3m) or more — between [...]