Tagged: united kingdom

January 22, 2020 @ 11:42 am By Omar Faridi  |  

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

January 22, 2020 @ 9:28 am By JD Alois  |  

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

January 22, 2020 @ 7:52 am By Omar Faridi  |  

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

January 22, 2020 @ 7:48 am By JD Alois  |  

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

January 22, 2020 @ 7:37 am By Omar Faridi  |  

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

January 21, 2020 @ 9:01 pm By Omar Faridi  |  

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

January 21, 2020 @ 12:09 pm By Omar Faridi  |  

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

January 21, 2020 @ 7:37 am By Omar Faridi  |  

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

January 20, 2020 @ 10:36 pm By Omar Faridi  |  

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

January 20, 2020 @ 4:46 pm By Omar Faridi  |  

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

January 20, 2020 @ 1:21 pm By Samantha Hurst  |  

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

January 20, 2020 @ 11:20 am By Omar Faridi  |  

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

January 19, 2020 @ 11:06 pm By Samantha Hurst  |  

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

January 19, 2020 @ 10:11 pm By Samantha Hurst  |  

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

January 19, 2020 @ 7:58 am By Omar Faridi  |  

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

January 17, 2020 @ 10:20 pm By Samantha Hurst  |  

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

January 17, 2020 @ 10:04 pm By Samantha Hurst  |  

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

January 17, 2020 @ 9:53 pm By Samantha Hurst  |  

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

January 17, 2020 @ 10:54 am By Samantha Hurst  |  

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

January 17, 2020 @ 9:10 am By JD Alois  |  

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