Fintech startup TrueLayer raises $25 million
London-based fintech startup TrueLayer has raised $25 million from investors including Temasek, Anthemis, Connect Ventures and Northzone, the company said on Monday. The firm, which develops technology that enables financial technology companies to access account data from high street banks, said it will use the funding to continue to grow its business. Founded in 2016, TrueLayer is one of several startups seeking to take advantage of European Union and UK open banking rules which require lenders to open up their data to other companies so they can tailor products to their customers. “The company is growing,” said Francesco Simoneschi, TrueLayer’s chief executive and co-founder. “We wanted to continue to increase […]
UK digital bank Ziglu launches P2P payments for Bitcoin and Bitcoin Cash
London-based challenger bank Ziglu said Monday that it has been licensed as an Electronic Money Institution (EMI) by the U.K.’s FCA.
Crypto-friendly banking platform Cashaa expanding in India, US, Africa
Crypto-friendly banking platform Cashaa has unveiled its expansion plans, having raised $5 million from investment and advisory firm O1ex.
Crypto-friendly banking platform Cashaa expanding in India, US, Africa
Crypto-friendly banking platform Cashaa has unveiled its expansion plans, having raised $5 million from investment and advisory firm O1ex.
Santander takes big stake in UK FinTech
Spanish bank Banco Santander is acquiring just over 50 percent of the U.K. payments platform Ebury for £350 million ($453 million), Ebury announced in a press release on Monday (Nov. 4). The Ebury payments platform gives small and medium-size companies the ability to trade internationally. The acquisition is scheduled to close in the first quarter of next year and is intended to help boost Santander’s global payments business. “Small and medium-sized businesses are a major engine of growth around the world, creating new jobs and contributing up to 60 percent of total employment and up to 40 percent of national GDP in emerging economies,” said Santander’s Executive Chairman Ana Botín. […]
Koyo FinTech raises $4.9M to assist underbanked UK borrowers
FinTech startup Koyo, which uses Open Banking to offer loans to underbanked UK borrowers, announced that it has raised $4.9 million in funding. The round, a mixture of debt and equity funding, was led by Forward Partners, with participation from Seedcamp, Christian Faes (founder and CEO of LendInvest) and Charles Delingpole (founder and CEO of ComplyAdvantage). Founded last year by Thomas Olszewski, the FinTech firm aims to secure loans for people with a limited credit history through the use of Open Banking data. “If someone is new to the country, or otherwise has a thin credit file, it can be difficult for that person to access credit,” said Olszewski. “For […]
Utrecht-based Rabo Frontier Ventures invests in UK fintech and banking company Tide
Rabo Frontier Ventures, Utrecht-based strategic investment venture fund, has invested in the mobile business platform Tide in a Series B investment round. This investment round was led by SBI Group and Augment. Notably, the RFV deal was structured through an SPV that is managed by Anthemis Group, a major early-stage investor in Tide and one of the most active fintech investors. Jeroen van Doornik, Partner at RFV, said: This investment in Tide will generate valuable insights regarding innovation and development in SME banking and further allows us to work together with Anthemis and alongside existing investors such as LocalGlobe. The funding will help Tide substantially increase its share of the […]
Temenos to create financial technology powerhouse as Fidessa agrees takeover
The boards of Temenos and Fidessa have reached an agreement on the terms of an all-cash takeover of the UK-based trading technology supplier in a transformational deal for the Swiss core banking vendor. Under the terms of the transaction, Fidessa shareholders will be entitled to receive £35.67 in cash for each Fidessa share, a 36.9% premium to the firm’s closing price of £26.05 on 16 February. Shareholders will also be entitled to receive and retain a final dividend and a special dividend in respect of the year ended 31 December 2017 together amounting to 79.7 pence in aggregate per Fidessa share. The transaction, which is expected to close in the […]
