Tagged: united kingdom

Banking Challenger App Niyah Launches Services in the UK for Nation’s Islamic Community

Niyah, a banking challenger app, has officially launched its services in the United Kingdom for the country’s Islamic community. The company claims it’s “the first Fintech Islamic banking app and ethical financial marketplace platform” to offer services in the UK. The Niyah app is Shariah-compliant,… Read More

As Bad as Payday Lenders: FCA Chastises Banks’ Overdraft Fees, Provides New Rules on Overdrafts

The Financial Conduct Authority (FCA) is introducing new rules regarding overdraft fees that impact consumers. The new rules expect to benefit 70% of the population as banks will now be required to charge a simple annual interest rate, without any additional fees or charges beginning… Read More

SteadyPay, an FCA-Licensed Gig Economy App, Secures £2.9 Million via Seed Equity and Debt Funding Round

SteadyPay, a Financial Conduct Authority (FCA) licensed gig-economy app, has secured £2.9 million (appr. $3.8 million) through a seed equity and debt funding round. The firm’s equity investment was led by venture capital company Hambro Perks and Fair By Design, the social impact fund launched… Read More

Working Capital Provider Demica Raises $30 Million in Series C

UK based Demica, a working capital Fintech, has closed on a $30 million Series C financing round led by Simcah Management LLC, according to a company release. Demica is a platform that targets multinational clients all over the world, across industries providing working capital facilities… Read More

UK-based Digital Bank Vive Acquires Banking License from Bank of England

Vive, a newly established UK-based digital bank, has reportedly acquired a banking license with certain restrictions from the Bank of England (BoE). The new digital bank aims to provide personal loans and a fixed-rate savings account. It will be launching with an Open Banking-based funds… Read More

Bill and Melinda Gates Foundation-backed Catalyst Fund Launches $15 Million Commitment from J.P. Morgan, UK Aid

Although the overall progress on reducing poverty has been steady during the past few decades, about half or 50% of the global population still has to live on less than $6 per day. Catalyst Fund is a newly established VC fund with a goal to… Read More

UK-based FTMarkets, a Foreign Exchange, Launches Platform in Vietnam

UK-headquartered FTMarkets, a foreign exchange established in 2005, recently introduced its trading platform in Vietnam, allowing the residents of the Asian nation to download applications and perform foreign exchange transactions. FTMarkets provides investors MT4 and APP platforms for conducting trades and it doesn’t charge clients… Read More

Billionaire ICAP Founder Michael Spencer Commits £25 Million to New £100 Million Fintech Fund in the UK

Michael Spencer, the billionaire founder of ICAP, has reportedly committed £25 million (appr. $32.5 million) to a newly established £100 million (appr. $130 million) Fintech venture fund in the United Kingdom. The fund, called Element Ventures, has been established by Michael McFadgen and Steve Gibson,… Read More

Edinburgh-based TSB Bank to Establish New IT Center to Support Digital Banking Services as Part of $156 Million Investment

TSB has confirmed that it will establish a new IT center based in Edinburgh, in order to support the launch of digital banking services, as part of a £120 million (appr. $156 million) investment – which is expected to create around 100 new technology jobs,… Read More

UK-based Fintech Zeux Introduces Savings-like Account Offering 5% Interest Rate, Supports BTC and ETH

UK-based Fintech Zeux has introduced a safe, Easy Access Money Pot, which is a mobile-based platform that awards app users 5% interest (at the annual equivalent rate or AER). The Easy Access Money Pot, which aims to be an alternative to traditional savings accounts, has… Read More

Cashaa Launches Crypto Business/Broker Account to Ensure Crypto Businesses & Brokers Are Compliant With FCA New Anti-Money Rules

UK-based next-generation banking platform Cashaa recently announced the launch of its new “Crypto Business/Broker” account. According to Cashaa, the account were created to ensure crypto businesses/brokers are compliant with the FCA’s new rules for anti-money laundering and counter-terrorist finance and Fifth Money Laundering Directive (5AMLD)…. Read More

Global Investments into China’s Fintech Startup Ecosystem Decline by Over 7 Times: Report

The global investments into China’s Fintech startup ecosystem have declined significantly by more than seven times at roughly $4.9 billion last year, after reaching an all-time high of $34 billion in 2018. The investments have dropped considerably for business-to-business (B2B) and business-to-consumer (B2C) Fintech firms… Read More

Monzo Now Reporting to Experian

UK-based digital banking group Monzo announced last week it will be now be reporting to Experian. The company revealed that it previously just reported to TransUnion. “Although we’ve started sharing information with Experian, it’ll take a month or two for Monzo to appear on your… Read More

Update: Sustainable Transport Solution Magway Surpasses £1 Million in Funding Through Crowdcube Round

Magway, a UK-based startup offers a sustainable transport solution that moves goods through small pipes, has successfully raised more than 1 million through its equity crowdfunding campaign on Crowdcube. The funding round was launched last month, originally seeking 750,000 in funding. It has already attracted… Read More

Banking Challenger Market Is Growing Rapidly, with Brazil’s Nubank being the World’s Largest with 15 Million Clients

The challenger bank trend first began in Europe and has been gradually spreading to other parts of the world. Traditional banking challengers have been growing steadily and have managed to attract large investments. FT Partners’ new report, titled The Rise of Challenger Banks: Are the… Read More

German Insurtech GetSafe Announces UK Expansion

Getsafe, a Germany-based insurtech startup, announced on Thursday it has started its digital contents insurance expansion into the UK. The expansion of services comes less than a year after Getsafe secured $17 million through its Series A funding round, which was notably led by Earlybird… Read More

Small Robot Company Raises £700,000 in Two Days, £560,000 Topped Within Minutes on Crowdcube

Small Robot, a UK-based ag-tech that is building sustainable farming robots, has successfully secured its initial £700,000 funding target through its latest equity crowdfunding campaign on Crowdcube. The company took just 2 days to raise £700,000. £560,000 was topped within minutes of going live on… Read More

Klarna Announces New Partnership With Point-of-Sale Software Vend

Payment processing platform Klarna announced earlier this week it has formed a new partnership with point-of-sale software brand, Vend. According to Klarna, the collaboration gives customers of boutique retailers more flexible payment options in-store across the UK. The roll out will later follow in the… Read More

BMW Group Financial Services UK Partners With L Marks to Launch Third Startup Collaboration Program

BMW Group Financial Services UK announced on Thursday it has launched the third installment of its Innovation Lab, run in collaboration with corporate innovation specialists, L Marks. The financial services reported that this year’s lab has developed into a new “Relay format,” which enables focus… Read More

Fintech WiseAlpha Receives CPD Accreditation for Bond Academy

WiseAlpha, a marketplace for corporate bonds, is reporting Continuing Professional Development (CPD) certification for its Bond Academy. In December, WiseAlpha announced the Bond Academy – an entity that will be directed by independent expert instructor, George Flynn from Europeanhighyield.online. WiseAlpha is regulated by the UK… Read More

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