Revolut, Interactive Investor and Abcam: Britain’s venture capital success stories December 6, 2024 This week, Revolut made headlines when it emerged that early investors in the fintech had been offered an opportunity to cash out with returns of up to 400 times their initial investment. The news arrived in the same week venture capital trusts celebrated their 30th anniversary of backing British startups. Revolut used crowdfunding rather than [...]
Zopa Bank hunts for fintech acquisitions after £68m fundraise December 6, 2024 Zopa Bank is on the hunt for acquisitions as the digital lender looks to step up its challenge to the likes of Revolut, Monzo and Starling ahead of a potential float on the London Stock Exchange. The London-based fintech, which launched as a fully licenced bank in 2020, said on Friday it had raised €82m [...]
Revolut adds ex-Lord Mayor and KPMG veteran to UK board ahead of bank launch December 6, 2024 Revolut has appointed a former Lord Mayor of London and Big Four veteran to its UK board as the fintech giant prepares to launch as a fully-fledged bank in its home market. The London-based banking company added Fiona Fry and Peter Estlin as non-executive directors while it works through the mobilisation period for its UK [...]
Bank of London shakes up UK board in investor-led recovery plan December 5, 2024 The Bank of London has appointed four new directors to its UK bank board and replaced its chair as the troubled fintech ‘unicorn’ looks to recover from a string of setbacks in recent months. The lossmaking start-up, which has faced heavy scrutiny over its governance and finances, said on Thursday that Metro Bank director Catherine [...]
Christopher Ward, Bremont and more celebrate British watchmaking December 5, 2024 A ‘Weekender’ at Time+Tide with the British Watchmakers’ Alliance sold out in one day. The exhibiting brands included domestic stars like Christopher Ward, Bremont, Studio Underd0g, George Bamford’s ‘London’ imprint and Farer. It took place at online publisher Time+Tide’s sleek new bricks and mortar just north of Oxford Circus. And – much like the British Watchmakers [...]
Watches of Switzerland: Why shares in Rolex seller are on the road to recovery December 5, 2024 Shares in Rolex seller Watches of Switzerland have surged to their highest value since January after the retailer revealed positive half-year results. The Leicester-headquartered group reported a revenue of £785m for the six months to 27 October, 2024, a four per cent rise. In a trading update issued to the London Stock Exchange, Watches of [...]
Vodafone and Three: What £16.5bn merger actually means for customers and prices December 5, 2024 After an almost 18-month battle the UK’s largest ever telecoms deal – which will see Vodafone and Three complete a £16.5bn merger – has been given the green light. Described by Vodafone as a “once-in-a-generation opportunity to transform the UK’s digital infrastructure”, the deal has now satisfied the Competition and Markets Authority (CMA) enough for [...]
Warpaint London to acquire fellow beauty specialist Brand Architekts December 5, 2024 Cosmetics firm Warpaint London has announced the acquisition of fellow beauty brand specialist Brand Architekts. Warpaint London, the company behind makeup brands W7 and Technic, told markets today it has reached an acquisition agreement for the entirety of issued and to be issued share capital of the Brand Architekts. The company said under the terms of [...]
Revolut crowdfunders in line for 400 times return on investment December 5, 2024 Some of Revolut’s earliest investors are in line for 400 times returns after taking a punt on a fledgling fintech that has grown into a banking titan. The British start-up’s early backers, including participants in two crowdfunding rounds, have been offered the chance to sell down their holdings in a secondary share sale. Brokered by [...]
Mark Kleinman: Tucker’s luck could mean handing over HSBC reins during a trade war December 5, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City AM column. This week he tackles HSBC’s chair changeover, the FCA’s recent climbdown, and a mighty job at Mitie. Tucker’s luck could mean handing over HSBC reins during a trade war Just as one swallow doesn’t make [...]