It’s not all doom and gloom, says London fintech chief citing ‘shoots of positivity’ September 27, 2023 London’s fintech sector is showing “shoots of positivity”, an industry chief said today as they sought to challenge the doom and gloom narrative surrounding the business environment in the City. Despite the loss of some major floats, the chief executive of Innovate Finance (IF), the industry body representing the UK’s fintech sector, said she was [...]
Revolut granted extension to file annual results for second year in a row September 19, 2023 The fintech's results had been due in September, nine months after the end of its financial year.
Funding Circle chief Lisa Jacobs: Lending through a crisis – and looking toward the US September 14, 2023 It’s not been a quiet few years for small business lenders. When covid struck in 2020, a host of non-banks found themselves thrust into the public consciousness alongside the big High Street lenders as small companies scrambled for a cash lifeline through lockdowns. The reception was a largely positive one; some even took on something [...]
Zopa raises £75m debt as fintech bank eyes public markets debut September 8, 2023 Fintech lender Zopa Bank has raised a fresh £75m round of debt financing today to boost its coffers ahead of a much-anticipated float on the public markets. The London-based bank, which has been open about its ambitions for an IPO in recent months, said today it had raised £75m of tier-two capital through a ten-year [...]
Funding Circle slides to loss as weak economy and end of Covid loans hit lending September 7, 2023 Funding Circle swung to a loss in the first half of the year as a sluggish UK economy and the winding down of government-backed Covid loans continued to drag on the small business lender’s bottom line. The London-listed fintech posted a pre-tax loss of £16.6m in the six months to June, against a profit of [...]
SVB collapse and rising rates help fintech Clearbank double deposits in six months September 6, 2023 Clearbank has doubled its deposit base in six months as it benefited from rising interest rates and attracted new clients in the wake of Silicon Valley Bank's (SVB) collapse.
Klarna global boss doubles down on UK investment despite regulation uncertainty September 5, 2023 Buy-now pay-later giant Klarna will double down on a UK investment drive despite lingering uncertainty around a clampdown on the sector by regulators this year, its global chief has pledged. Sebastian Siemiatkowski, founder and chief of the Swedish fintech, told Morning Wire that the UK remained a key market for the firm despite a push [...]
Wise breached Russia sanctions with £250 withdrawal and accused of having ‘inappropriate’ controls August 31, 2023 London fintech firm Wise has been accused of “inappropriate” controls by the government regulator today after allowing a sanctioned Russian customer to withdraw cash from a business account. Wise, which allows businesses and individuals to open current accounts and transfer money overseas, allowed the company of a so-called “Designated Person” to successfully withdraw £250 in [...]
Klarna closes losses and touches monthly profit as cost-cutting drive bears fruit August 31, 2023 Buy-now pay-later giant Klarna has slashed its losses and touched profitability for the first time this year after rolling out a hefty cost-cutting programme and driving down the amount of customers defaulting on payments. In its half year report today, Klarna revealed it had closed its losses to SEK 2.115bn (£153m) from SEK 6.37bn last [...]
Metro Bank founder launches fintech accelerator to get firms into ‘hyper-growth’ August 28, 2023 The founder and former chair of Metro Bank and Atom Bank has launched a business designed to support the next generation of fintech startups.