Tagged: united kingdom

June 21, 2024 @ 7:10 am By Omar Faridi  |  

Digital bank Revolut is reportedly looking to become the most valuable startup in Europe with a target valuation of around $40 billion. This according to a report from the FT. Sources that claim to be familiar with these plans reportedly told the FT that Revolut… Read More

June 19, 2024 @ 12:26 pm By JD Alois  |  

A report from the UK indicates that more than 50% of consumers benefit from Open Banking but do not know it. The research claims a “clear disconnect between recognition and use of Open Banking.” Open Banking or Open Finance is mandated in the UK. This… Read More

June 19, 2024 @ 7:51 am By Omar Faridi  |  

Zilch, the ad-subsidized payments network (ASPN), announces a key £100 million securitised debt financing arranged by Deutsche Bank (DB). The financing will enable Zilch to grow its business and “accelerate Zilch’s ability to create and launch new products for a broader base of customers.” In… Read More

June 19, 2024 @ 7:49 am By Omar Faridi  |  

FOLK2FOLK has recently announced “record” turnover and investor returns. Folk2Folk is reporting continued growth and positive impact “on regional UK economies with £15m paid out in interest to investors.” FOLK2FOLK, the UK’s peer-to-peer lending platform for businesses, says that it “returned a record £15.78m in… Read More

June 18, 2024 @ 11:38 am By JD Alois  |  

Prime property investment platform CrowdProperty has hired a new Head of Business Development for London & the South East. The established online investment platform has operated for ten years in the UK market. CrowdProperty states that Simon Michael joined the company in early June as part… Read More

June 18, 2024 @ 11:29 am By JD Alois  |  

The UK Payments Association is asking policymakers and the Fintech sector to support consumers with community finance. This will take place in a Sandbox that pairs community lenders with Fintechs. Tony Craddock, Director General of The Payments Association, says financial inclusion remains critically important, as… Read More

June 18, 2024 @ 8:56 am By Omar Faridi  |  

More parts of the UK economy grew in May than at any time in the last 15 months, according to the latest Lloyds Bank UK Sector Tracker. While the overall rate of output growth across the economy “slowed marginally in May (53.0 vs. 54.1 in… Read More

June 18, 2024 @ 8:55 am By Omar Faridi  |  

FINBOURNE Technology’s solutions deliver an interconnected network of functionality and data that enables the investment community to better serve clients in a constantly evolving market. The firm has announced that it has raised £55m in Series B funding. This latest  funding round was “led by… Read More

June 18, 2024 @ 8:50 am By Omar Faridi  |  

Bondex, an independent crowdsourcing recruitment app based out of the United Kingdom (UK), has secured an investment from Animoca Brands, the company advancing digital property rights for gaming and the open metaverse, to fuel its platform, which hosts over 1.5 million monthly active users. Bondex… Read More

June 17, 2024 @ 9:17 am By JD Alois  |  

In the UK, the Fintech industry “remains a hotbed” for innovation, driving employment needs – mostly in London. According to a report distributed by Morgan McKinley, the “demand for tech-savvy professionals in the Fintech industry has significantly increased, reflecting the sector’s ongoing digital transformation.” Morgan… Read More

June 17, 2024 @ 8:26 am By Omar Faridi  |  

DNA Payments is bringing more flexible payment options to the payments space, being one of the first to market in the UK by launching Open Banking for its axept PRO payment terminals, offering merchants even more ways for their customers to pay. The introduction of… Read More

June 17, 2024 @ 7:30 am By Omar Faridi  |  

Prosper, the savings and investments wealthtech founded by Nick Perrett and Ricky Knox, formerly of Tandem Bank, has reached its £800,000 Crowdcube target before launching to the public. Nick Perrett, Prosper’s CEO said: “We have been overwhelmed by the early show of support in the… Read More

June 16, 2024 @ 3:57 pm By Omar Faridi  |  

Hometree, a residential energy services company, has raised £250m in debt financing from Barclays to help homeowners finance the installation of solar panels, battery storage systems, and heat pumps through a range of lease and loan products. The zero-deposit payment options are uniquely “designed for the… Read More

June 15, 2024 @ 12:34 pm By Omar Faridi  |  

Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced a partnership with full-service hospitality management company Brittain Resorts & Hotels. Now, approved hotel guests can book accommodations “at more than 15 hotels and resorts and pay over time… Read More

June 15, 2024 @ 8:16 am By Omar Faridi  |  

BVNK, a London-based firm focused on payments innovation, enhanced its stablecoin liquidity operations by leveraging Talos’ advanced trading technology and extensive partner network. This collaboration has added new liquidity providers “at significantly reduced integration times, resulting in a nearly two-fold increase in trading volumes –… Read More

June 15, 2024 @ 7:00 am By Omar Faridi  |  

UK Finance released its latest Household Finance Review for Q1 2024, exploring trends across household, spending, saving, and borrowing. Mortgage borrowing in Q1 was down “compared with the same period the year before, despite growth in mortgage applications at the end of 2023.” Consumer spending… Read More

June 14, 2024 @ 10:11 am By JD Alois  |  

The securities crowdfunding industry needs to do a better job of highlighting successes for investors as well as embracing the failures. Entrepreneurship generates enormous benefits for society, but investors backing these early-stage firms are taking on a lot of risk. Most startups fail, and some… Read More

June 13, 2024 @ 8:50 am By Omar Faridi  |  

Latest Regional PMI survey data from NatWest showed a broad-based increase in business activity across the UK in May, with growth being recorded simultaneously in “all 12 nations and regions monitored for the first time in more than a year.” At the same, there was… Read More

June 13, 2024 @ 8:17 am By Omar Faridi  |  

ClearBank explains that cost-effective access to Faster Payments System (FPS) is offering all the advantages of the UK’s faster payments infrastructure to UK resident customers, without incurring the “costs of being a direct scheme member.” According to ClearBank, there has been significant growth in UK… Read More

June 12, 2024 @ 9:42 am By JD Alois  |  

SyndicateRoom, a platform that began life as a single issuer investment platform, has shared insight into its Access EIS Fund performance. The Access EIS Fund is available to smaller investors and aims to generate a return of £3.50 for each £1 invested. The diversified fund… Read More