Tagged: uk

July 30, 2024 @ 10:28 am By JD Alois  |  

Deeptech Labs will be partnering with British Business Investments to funnel £10 million in funding to deep tech firms in the UK as part of the Regional Angels Programme. British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank. The mission is to… Read More

July 30, 2024 @ 10:10 am By Omar Faridi  |  

NatWest Group has issued its first Electric Vehicle Green bond (the “EV Green Bond”) raising net proceeds of €750 million from institutional investors based in the UK, Europe & Asia. The issuance makes NatWest Group the first UK bank “to issue a green bond where… Read More

July 30, 2024 @ 9:19 am By JD Alois  |  

As the UK pushes aims to improve its financial services market, including Fintechs, the Bank of England and Prudential Regulation Authority (PRA), have announced a new Cost Benefit Analysis Panel (CBA Panel). This new Panel will proffer advice on the impact of new rules or… Read More

July 30, 2024 @ 8:10 am By Omar Faridi  |  

AI Fintech Aveni.ai has announced one of the largest Series A investments in a Scottish business this year, amounting to £11 million. The investment is led by Puma Private Equity with participation “from Par Equity and financial services industry leaders: Lloyds Banking Group and Nationwide.”… Read More

July 29, 2024 @ 11:23 pm By Omar Faridi  |  

Origination shows a record year of £378 million lent to SMEs across the UK, “representing an increase over the last year, during a period of time when the overall market has seen a drop in volumes by more than 19%.” This, according to an update… Read More

July 29, 2024 @ 11:24 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has issued a statement affirming its mission to simplify and reduce the cost of firms in need of growth capital. The FCA seeks to reduce the burden on businesses raising money. The announcement follows the new “Consumer Duty,” which… Read More

July 29, 2024 @ 7:39 am By Omar Faridi  |  

Brits’ confidence in their retirement prospects continues to rise, according to PensionBee’s latest Pension Confidence Index. The Pension Confidence Indicator score “surged to +30 immediately following the General Election, up from +22 in March 2024 and significantly higher than -10 in December 2023 and -9… Read More

July 28, 2024 @ 10:42 pm By Omar Faridi  |  

Businesses in the UK can access Lightyear’s new business accounts and start putting their money to work through cash interest and investments on the platform. This comes as the neobroker releases analysis “on new Bank of England data highlighting the increase in the total amount… Read More

July 28, 2024 @ 9:24 pm By Omar Faridi  |  

Late payments to UK small businesses surged over the last three months, with payments delayed by more than a week on average, according to the latest Xero Small Business Insights (XSBI) data from Xero, the global small business platform. Payments to small businesses were “made… Read More

July 28, 2024 @ 4:39 pm By Omar Faridi  |  

Tracxn, a global SaaS-based market intelligence platform, has released its Geo Semi-Annual Report: UK FinTech H1 2024. The report, based on Tracxn’s extensive database, “provides insights into the United Kingdom (UK) FinTech space.” The UK FinTech ecosystem was “the second highest globally in terms of… Read More

July 28, 2024 @ 10:21 am By Omar Faridi  |  

Revolut, the global fintech with more than 9 million UK customers and 45 million internationally, announced the launch of cash deposits for all UK clients. This update from Revolut comes after the recent news that the Fintech firm has received a UK banking license. With… Read More

July 27, 2024 @ 1:31 pm By JD Alois  |  

The UK is looking to boost access to capital for private firms – beyond the existing crowdfunding regime and established exchanges. Currently, for approved investment crowdfunding platforms it is difficult to raise more than £5 million due to prospectus requirements. The proposal aims to make… Read More

July 27, 2024 @ 1:05 pm By Tony Zerucha  |  

This week, the British Business Bank disclosed 10 additional companies in which the Future Fund holds an equity interest. That gives them an equity interest in 711 companies with a total investment of £708 million as of June 30. That’s one company less than in… Read More

July 26, 2024 @ 11:12 am By JD Alois  |  

The UK is trying to reinvigorate its moribund public markets by making it easier to list shares and updating new rules. Today, the Financial Conduct Authority (FCA) is announcing final rules that will replace the current prospectus regulation to become a public firm. A consultation has commenced, closing in October…. Read More

July 25, 2024 @ 11:09 pm By JD Alois  |  

Online investment platform CapitalRise says it has financed three new deals in nine days to the tune of £20 million. CapitalRise says this is a record for the amount financed in such a short time. CapitalRise is a specialist prime property finance platform that specializes… Read More

July 25, 2024 @ 10:01 pm By Omar Faridi  |  

Investment funds managed by Morgan Stanley Expansion Capital have acquired a stake in UK headquartered payments business Sokin, marking an exciting new chapter for the fast-expanding fintech firm. The acquisition will provide “significant capital and accelerate its product growth plans and further global expansion.” The… Read More

July 25, 2024 @ 12:37 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority confirms its plan to protect access to cash for consumers and small businesses. Banks and building societies will need “to weigh up if local communities lack access to cash services, like branches and ATMs, and plug significant gaps, under new… Read More

July 25, 2024 @ 9:36 am By Omar Faridi  |  

Revolut has received a UK banking license. The global Fintech now enters the PRA’s ‘mobilization’ stage, “having received authorization with restrictions, designed for new banks to complete the build out of their banking operations.” During this mobilization stage nothing changes for Revolut UK customers. Revolut,… Read More

July 25, 2024 @ 9:31 am By Omar Faridi  |  

CB Payments Limited (CBPL) has been fined £3,503,546 by the UK’s Financial Conduct Authority (FCA) for repeatedly breaching a requirement that “prevented the firm from offering services to high-risk customers.” CBPL is part of the Coinbase Group, which operates a cryptoasset trading platform that is… Read More

July 24, 2024 @ 12:38 pm By Omar Faridi  |  

Smart Pension has released a report entitled, “Delivery 2030: A blueprint to transform the UK pension system, deliver the future of retirement and leave no saver behind.” Jamie Fiveash, CEO, Smart Pension UK said: “Today’s workers are navigating the biggest shift in demographics for many… Read More