Monzo hits $5bn valuation with new funding round led by Alphabet’s CapitalG March 5, 2024 Monzo has secured a new $430m funding round led by Alphabet-owned fund CapitalG valuing the digital challenger bank at $5bn.
Redwood Bank founder Jonathan Rowland aiming to corner padel market with R3 Sport February 27, 2024 R3 Sport counts leading British players as co-founders and investors.
‘Don’t bother going to New York’: Why challenger banks are nervous about listing in London February 24, 2024 A string of UK challenger banks have hit the headlines in recent months for grand plans to compete with their larger rivals on the London Stock Exchange. But executives looking to IPO have plenty to worry about.
A forex fintech is putting an end to hidden fees – high street banks should take note February 20, 2024 Millions of Brits face charges of almost four per cent when sending money abroad – a new app committed to 'radical transparency' is set to change all that, writes Harsh Sinha
Shift: The Yodel deal orchestrator backed by Sir Andy Murray and the Duke of Norfolk February 13, 2024 All you need to know about Yodel's new owner which is backed by Sir Andy Murray and the Duke of Norfolk.
Cashplus boss: More challenger banks to go up for sale as big lenders see ‘brain drain’ February 3, 2024 The consolidation of mid-sized challenger banks will likely ramp up in 2024, the chief executive of digital bank Cashplus has told Morning Wire
Cynergy Bank chief urges struggling SMEs to ‘de-risk’ current accounts January 18, 2024 The boss of challenger Cynergy Bank has said small firms are letting too much money languish in no-interest current accounts, as it launches a new offering that puts it in more direct competition with Britain’s major lenders. Chief executive Nick Fahy told Morning Wire that small and medium-sized enterprises (SMEs) are increasingly struggling to afford [...]
Former boss of Gupta-linked Wyelands Bank fined over breaches of senior manager rules January 11, 2024 The main banking watchdog has fined Iain Mark Hunter, former chief executive of wound-down Wyelands Bank, £118,808 for “material breaches” of senior manager rules, including how the lender handled ties to steel tycoon Sanjay Gupta. The Bank of England’s Prudential Regulation Authority (PRA) found that between 7 March 2016 and 28 May 2020 Hunter breached conduct [...]
Lord Adair Turner rejoins Oaknorth as digital bank mulls IPO December 24, 2023 Digital challenger bank Oaknorth has appointed former City watchdog boss Lord Adair Turner to be its chair as it mulls an IPO.
One of the UK’s fastest growing fintechs says it will outpace Starling soon December 4, 2023 Some 10 months into the launch of digital bank Kroo, the founder reckons it will achieve profitability twice the speed of Starling Bank.