Tech investor raises a record $100m in capital June 27, 2019 London venture capital firm Talis Capital has secured a record $100m (£78.8m) to invest in tech startups across the UK, Europe and US in 2019. The firm has previously backed the likes of Darktrace, Iwoca, Onfido and Luminance. Unlike other venture capital firms, Talis Capital is backed by a network of private investors and does [...]
At a time of political flux, UK-US links have never been more important June 17, 2019 It was no surprise to see so much media scrutiny around President Donald Trump’s recent visit to Britain, and there is no doubt that the special relationship between the UK and the US will remain in sharp focus over the coming years. Whatever form that relationship takes in the future, it’s impossible to ignore a [...]
Uber under investigation by US and foreign tax authorities June 4, 2019 Uber has revealed it is under investigation by a string of tax authorities in the US and abroad. The ride-hailing firm said in a filing today that the Internal Revenue Service (IRS) has launched a probe into its taxes for 2013 and 2014. Read more: Uber loses $1bn in first quarterly results since stock market [...]
One in five digital transformation projects fails as tech knowledge falls short June 2, 2019 One in five businesses has launched an unsuccessful digital transformation project, new research has revealed, as companies fail to get to grips with new technology. Figures published by digital services firm Econocom showed a sharp increase in the number of businesses undergoing digital transformation, but revealed 20 per cent are doomed to fail. Read more: [...]
Uber loses $1bn in first quarterly results since stock market float May 30, 2019 Uber has reported a $1bn (£790m) loss in its first quarterly financial report as a public company, despite revenue rising by one-fifth. Read more: Uber partners with insurtech start-up to offer digital insurance The loss will not come as a surprise to investors in the ride-hailing giant, after it already predicted the figure in a [...]
Uber partners with insurtech startup to offer digital insurance May 30, 2019 Ride sharing giant Uber has struck a deal with a US insurtech startup to offer digital insurance for its drivers. Inshur uses information about average trips, locations and driver ratings in near real-time to calculate the price of the driver’s policy. Read more: Uber facing £1bn VAT tax bill after HMRC opens investigation The startup [...]
Wealthsimple grabs $100m in new funding round from Allianz May 22, 2019 Digital wealth giant Wealthsimple has raised a CA$100m (£58.8m) investment round, led by the investment unit of insurance firm and asset manager Allianz. The Canadian fintech, which operates in the UK and US alongside its home country, manages an online investing service and a commission-free stock trading app, with over $4.5bn of assets under management. Read more: [...]
Culture and creativity will drive a new golden era for the UK and China December 6, 2018 The strength of Britain’s technological and creative industries, combined with the longstanding value of its archetypal brands, has given rise to a growing desire among Chinese companies to invest in the UK. This follows on from the strong trade ties between the two nations. The UK exported £22bn worth of goods and services to China [...]
Fintech M&A deals swell to $40bn in first half of 2018 October 8, 2018 The fintech sector carried over 140 M&A transactions in the first half of 2018, at a total value of nearly $40bn (£30.48bn) – an increase of more than 26 per cent on the same period last year. The Fintech M&A market report, compiled by Hampleton Partners, says the surge in transaction values can be attributed [...]
EY-backed London marine insurtech Concirrus raises £5m September 25, 2018 London insurance technology startup Concirrus today closed a further £5m fundraising effort from deeptech investor IQ Capital and EOS Venture Partners, taking its total amount raised to date to £12m. The news comes after the firm signed a global deal with Big Four accountancy firm EY in April earlier this year, pushing Concirrus’ disruptive machine [...]