British Business Bank set on delivering Labour’s growth ambition June 28, 2025 Arguably one of the biggest winners from Chancellor Rachel Reeves’ latest spending splurge, the British Business Bank had its lending capacity beefed up and pledged to back the UK’s innovators with its expanded range. The bank had its funding capacity increased to £25.6bn in the Spending Review from near £15.6bn as it targets eight key [...]
‘We need the next Nikolay Storonsky’: Labour urged to act now to create next tech unicorn June 19, 2025 The UK needs to attract the next Nikolay Storonsky to its shores if it wants a new technology revolution to be built here, the CEO of tech unicorn Motorway has said. Tom Leathes, speaking on an up-coming episode of Morning Wire’s Boardroom Uncovered show, said the country needs “the next Nikolai to come over and [...]
Motorway CEO: How I built my $1bn empire after a huge failure June 16, 2025 The co-founder and chief executive of used car marketplace Motorway has opened up about how he helped to build a $1bn empire from scratch following the biggest failure of his career. On an up-coming episode of Morning Wire’s Boardroom Uncovered show, Tom Leathes also revealed how he and his fellow founders landed on the car [...]
Pisces: FCA’s private stock market will worsen FOMO investing June 5, 2025 The FCA's new private stock market Pisces comes into force today, but Carrie Osmon warns the framework risks worsening FOMO investing.
The UK’s fastest growing fintech Allica Bank delivers another record year April 16, 2025 Allica Bank, the UK’s fastest growing fintch, nearly doubled its profit in the last year after another period of rapid growth. The digital bank, which caters towards small and medium-sized enterprises (SMEs), increased pre-tax profits 86 per cent to £29.9m. Lending activity grew over £1bn in 2024 and revenue shot up 68 per cent to [...]
Fintech unicorn council joins Revolut and Zilch bosses for Treasury meeting March 18, 2025 Britain’s top fintech officials met Rachel Reeves on Tuesday morning in the Chancellor’s latest financial summit to boost economic growth. The co-chairs of Innovate Finance’s Unicorn Council for UK Fintech joined leading executives at the Treasury’s meeting, Morning Wire has learned. The council, which launched in March 2024, aims to provide the government with policy [...]
The five UK fintechs tipped to reach unicorn status February 13, 2025 The UK fintech sector is experiencing lightning growth, with several companies on the road to gaining ‘unicorn’ status, a title given to privately held startups valued at over $1bn (£780m). According to Hurun’s recent index, a handful of fintech firms are leading the charge, with valuations of $500m and above. These firms span various financial [...]
UK risks being ‘incubator economy’ with tech firms moving abroad, Lords warn February 3, 2025 The UK is at risk of becoming an “incubator economy” with tech firms moving abroad, if action is not taken to support companies to scale up, a group of Lords has warned. Britain must do a better job supporting UK-based artificial intelligence (AI) and creative technology start-ups to grow into global competitors, the House of [...]
Former fintech ‘unicorn’ Truelayer laid off a quarter of staff in one day November 15, 2024 Former fintech ‘unicorn’ Truelayer laid off roughly a quarter of its workforce in a single day as part of an effort to slash costs and become profitable, Morning Wire can reveal. The London-based firm axed 71 roles at the end of September a week before announcing a $50m funding round that lowered its valuation, according [...]
Tech boss warns UK to avoid own goal in Autumn Budget October 29, 2024 The founder and chief executive of a British artificial intelligence (AI) unicorn has urged the government to prioritise innovation in this week’s Budget, warning against policies that could hinder growth for UK tech firms. “I will be watching with huge focus when the Budget is delivered,” Vishal Marria told Morning Wire, adding that “we must [...]