Tagged: uk

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

July 24, 2024 @ 12:37 pm By Omar Faridi  |  

British Business Investments announces a further commitment to Claret Capital Partners Limited, with a new co-investment fund. The fund will invest in high-growth technology enabled smaller businesses across the UK. British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, aims to improve… Read More

July 24, 2024 @ 10:29 am By Omar Faridi  |  

ClearBank, the enabler of real-time clearing and embedded banking for financial institutions, today announced it has expanded its partnership with PayDo, an Electronic Money Institution (EMI), offering personalised solutions to businesses and individuals with a suite of financial services. The partnership with ClearBank will allow… Read More

July 24, 2024 @ 9:30 am By JD Alois  |  

Peer-to-peer lender FOLK2FOLK has topped £700 million in lending, according to a note from the firm. The company claims to be the largest P2P lender to small businesses in the UK. Launched in 2013, FOLK2FOLK is one of the few remaining P2P lenders. The unique model combines… Read More

July 24, 2024 @ 9:22 am By Omar Faridi  |  

LendInvest Mortgages, the UK’s platform for mortgages, announces the launch of a streamlined range of residential mortgage products, delivering simpler and faster options for homeowners. This enhancement follows the “introduction of improved criteria in June and includes significant rate reductions, making LendInvest’s mortgage offerings more… Read More

July 24, 2024 @ 9:11 am By Omar Faridi  |  

The UK is a significantly more entrepreneurial society than it was at the start of the millennium, the world’s largest survey of entrepreneurship has found. This, according to an update from NatWest. For the first time since the Global Entrepreneurship Monitor records began “a quarter… Read More

July 24, 2024 @ 9:08 am By Omar Faridi  |  

UK challenger bank Monzo is diversifying its product suite with a new pension consolidation solution that tracks old pensions and brings them into one fund. The launch of the product comes after research from Monzo reveals that more than half of UK adults (51%) don’t… Read More

July 24, 2024 @ 9:04 am By Omar Faridi  |  

D•One, the open banking unit of The ClearScore Group, has announced a partnership with Zopa Bank. The latest integration will see Zopa Bank add D•One to its partners that offer open banking connectivity as well as transaction categorization intelligence. D•One will be focusing on Zopa’s… Read More

July 23, 2024 @ 4:02 pm By JD Alois  |  

Globacap CEO and founder Myles Milston has issued a statement hammering London’s smaller cap exchange, AIM [Alternative Investment Market]. AIM was set up to assist smaller firms in listing shares. Recently, the UK Financial Conduct Authority (FCA) posted new rules designed to boost public listings in the… Read More

July 23, 2024 @ 3:16 pm By JD Alois  |  

Plum, a “smart money app,” has raised £16 million in Series B funding, according to a note from the company. Pum said the capital infusion follows a period of solid growth. Assets under management have topped £1 billion, tripling in the past 12 months. Plum… Read More

July 23, 2024 @ 8:59 am By Omar Faridi  |  

PensionBee Group plc announces the launch of its business in the United States, the world’s largest Defined Contribution pension market, “representing approximately 80% of the global total and $22.5 trillion in assets.” The company’s wholly-owned US subsidiary, PensionBee Inc, is “now registered with the US… Read More

July 23, 2024 @ 8:57 am By Omar Faridi  |  

Nucleus Financial Platforms, one of the UK’s independent, adviser platform groups, has announced Laura Papp and Helen Wallace-Smith have joined into two newly created platform director roles. Both will report to Nucleus Chief Operating Officer (COO), Steve Knight. As Nucleus continues to prepare for the… Read More

July 22, 2024 @ 8:54 am By Omar Faridi  |  

Bondsmith, which says it is empowering clients to unlock the full potential of cash with innovative financial solutions via trusted partnerships,  announced that they have joined forces with abrdn in order to launch a fully integrated cash savings solution, providing their clients with even greater… Read More

July 22, 2024 @ 8:53 am By Omar Faridi  |  

Midlands Engine Investment Fund II has announced its first major equity deal. Aircraft robotics firm True Position Robotics has raised £1 million to support business expansion. The British Business Bank has announced the first deal from the Midlands Engine Investment Fund II “with a £1… Read More

July 21, 2024 @ 11:38 pm By Tony Zerucha  |  

Executives from two Fintech companies believe this week’s system outages could hurt SMEs the most and highlight the need for additional resiliency in an increasingly connected world. The past seven days began with an outage at CHAPS. While it was temporary, it significantly affected European… Read More