UK based fintech firms helped push technology investment in the UK to all time highs in 2017; fintech firms accounted for almost half of the £3bn invested; leading fintech firms TransferWise, Funding Circle and Monzo helped push the investment number as they all raised significant rounds; Eileen Burbidge, Partner at Passion Capital, tells AltFi, “"It's a testament to our exceptional entrepreneurs that the UK tech sector continues to produce companies that are leading in the development of cutting edge technologies such as artificial intelligence and fintech.” Source.
End of life fintech Farewill has raised an additional £20mn and is working on a big push into the funeral...
Abe Smith, founder and CEO of UK based Dealflo tells Banking Technology about the big opportunity for UK fintechs in China; China and the UK have recently formed as closer partnership with Teresa May signing s number of deals and partnerships; three key areas for UK fintechs to focus on include approaching China for the unique market it is, work with a local group or team of advisors and understand the complex data residency programs. Source.
Abundance sold 72% of all Innovative Finance ISA (IFISA) products in the last year; this represented 62% of investment into the new product overall; while the P2P lender is happy with their success they realize their market lead will diminish as they were one of a few platforms approved in the last year; a host of other platforms, including top lender Zopa, have been approved recently and the numbers are sure to be more widely spread out among a larger group of platforms; Bruce Davis, co-founder and joint managing director of Abundance, tells AltFi, "Abundance's success is very much the good news part of the Innovative Finance ISA story to date." Source
UK based fintech industry group Innovate Finance has released their Women in Fintech Powerlist; the list highlights 150 women in...
Marcus by Goldman Sachs just reached a big milestone from their UK based team, in 8 months they have amassed...
With a noisy market at the moment, the best advice for start-ups is often the most simple - take your time and commit to a long-term investment strategy.
Nikolay Storonsky must battle the UK watchdog and wider economic forces to keep Revolut's momentum going
A survey of 70 traditional UK financial services firms by Mayer Brown has quantified the benefits of fintech partnerships in the financial services industry; 100% of survey participants said they would purchase a product or work directly with a fintech company over the next three years and 49% of respondents said they were currently working with a fintech firm in a joint venture partnership; other highlights from the survey report found that 87% of respondents could reduce costs after a fintech partnership, 83% of respondents were able to refresh their brand and 54% of respondents increased revenue. Source
The company says it will reduce its workforce by 1,100 employees as part of its efforts to manage operating expenses during a slump in bitcoin and other cryptocurrencies....