Automakers and the tech giants are battling over the future of the car industry March 5, 2019 More than 100 years after the petrol-powered car passed go for the first time – and despite worldwide sales at a record high in 2018 – stress fractures are starting to appear. Tesla is on track to outsell both BMW and Mercedes-Benz in the US, car sales in China are declining for the first time in [...]
Revolut boss concedes to claims of ‘toxic culture’ at the startup March 5, 2019 The chief executive of London fintech startup Revolut said his firm “hasn’t always gotten things right” in an open letter late last night, after fresh allegations of a toxic culture at the company emerged last week. Former Revolut employees at both senior and junior levels described an environment of unpaid work, unachievable targets and high-staff [...]
KFC taps London fintech startup Flux for paperless payments March 4, 2019 KFC has launched a partnership with London fintech startup Flux which will see the US fried chicken chain go paperless. From today, users of digital banks Monzo and Starling, as well as select Barclays customers in the near future, will be able to receive digital itemised receipts for transactions in their banking apps when they [...]
London startup numbers rise in face of Brexit uncertainty March 1, 2019 The number of new startups created each year in London is higher now than it was before the EU referendum, according to public data. While 205,325 new businesses started life in 2016, the year of the Brexit vote, entrepreneurs founded 216,204 companies last year, the Office for National Statistics (ONS) data reveals. Read more: The [...]
Strong and stable: London extends lead as Europe’s top hub for unicorn startups March 1, 2019 London has cemented its status as the home of more young billion-dollar tech companies than any other European city, taking home the crown for ten consecutive years. Read more: Female fintech leaders highlighted as sector battles gender imbalance The number of so-called unicorn startups – private businesses valued at $1bn (£752.6m) and founded after 2000 [...]
Serial fintech entrepreneur Marta Krupinska focused on diversity as she relaunches Google for Startups UK February 28, 2019 Fintech entrepreneur Marta Krupinska has vowed to make diversity a priority as she takes over the reins at the relaunched Google for Startups UK. Read more: Revolut pushes ministers for fast-track tech visas Krupinska, who shot to fame after founding Azimo, the digital money transfer app, has been tasked with overseeing the Google project as [...]
Digital banking challenger N26 is expanding to Brazil February 27, 2019 German fintech challenger N26 is expanding to Brazil, making it the first of Europe's biggest retail digital banks to enter the South American market. Announcing the move on stage at Mobile World Congress in Barcelona, N26 said Eduardo Prota would head up the new region. Prota has previously worked for Santander and Cielo, as well as having [...]
Tech startups remain private for longer leading to high valuation IPO pipeline February 26, 2019 Technology startup companies are choosing to remain private for longer due to the availability of capital from private equity and venture capital investors, creating a pipeline of high-value listings expected this year. The median age of venture capital backed technology companies at the time of IPO has risen from 10.9 years in 2018 from 7.9 [...]
Venture capital fund run by former Facebook and Deliveroo employees raises $85m February 26, 2019 A venture capital fund run by former Facebook, Deliveroo and Klarna employees has raised $85m. (£64.5m) The Blossom Capital fund is the first launched by ex-Index Ventures and Localglobe investor Ophelia Brown, 32, and is the fastest ever first time fundraise from a female VC in Europe. Read more: Ex-Google CFO opens up a venture capital office [...]
Ford links up with London startup What3words for a new way to map the world February 26, 2019 Ford is ramping up its innovation plans as the US car giant today announces a partnership with London startup What3words. The tie-up means drivers will be able to link the What3words app, which has mapped out the globe into 57 trillion 3m-by-3m squares using unique three-word addresses, with Ford's in-car navigation system. The technology will reduce address input errors [...]