London Fintech Updraft raises £16m to help people break up with their credit cards
Consumers will pay over £10b in fees and interests for overdraft and credit cards in 2020 alone. Updraft wants to reduce that amount.
Trade Ledger platform selected by Bibby Financial Services to drive funding automation
BFS will leverage the Trade Ledger platform to enhance functionality and enable greater control for businesses seeking funding.
The Carlyle Group to acquire Calastone
Calastone announce that The Carlyle Group has reached an agreement to acquire a majority stake in the business from its current shareholders.
Glasgow in sights of fintech aiming to disrupt lending market
A fintech start-up founded by a Glaswegian entrepreneur is aiming to disrupt the lending market with a “totally new and fair approach” – and set to roll out low-cost loans for public sector workers in locations including Glasgow. Salad Money, founded by Debt Hacker campaigner Alan Campbell, is looking to “smash the monopoly” of credit reference agencies and tap into open banking and artificial intelligence. The company, which says it is the first open banking powered lender, said it is opening up affordable credit to 85 per cent of applicants who were previously excluded from credit or paying sky-high annual rates. Salad Money said its “revolutionary” new method of credit […]
London real estate fintech biz collects €11.5m
Immo Investment Technologies has raised €11.5 million from investors including Talis Capital and HV Holtzbrinck Ventures. The business sources and purchases homes on behalf of buy-to-let investors. In addition to the equity capital, the London-based company has secured €60 million from real estate investors to fund the acquisition of properties. To read more, please click on the link below… Source: London real estate fintech biz collects €11.5M | PitchBook
Fintech focus for Wales at TheCityUK National Conference in Cardiff in November
TheCityUK brings a major event to the Principality Stadium, Cardiff on November 21 as Wales focuses on FinTech with a growing reputation as a global leader in the financial technology sector. TheCityUK National Conference 2019, in partnership with PwC, is an opportunity for delegates to join senior policymakers, practitioners and academics to discuss critical issues and growth opportunities for financial and professional services across the UK. The conference theme is ‘Making an Impact’, with keynote speeches focusing on how the financial and related professional services industry supports people and businesses across the UK.Event headliners include The Rt Hon the Lord Heseltine CH, Richard Theo, UK Government FinTech Envoy for Wales, […]
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. […]
Modulr invest £20m to supercharge Scottish FinTech
EDINBURGH-based FinTech Modulr has today announced it will invest the majority of £20m in the Scottish FinTech industry, to drive disruptive innovation and further boost Scotland’s growing prominence as a tech hub. The move is the latest step in Modulr’s ambition to radically transform SME banking, and its belief in Scottish tech talent to help achieve this vision. Having established its main development hub in Edinburgh, Modulr will use the funding to create an additional minimum of 53 highly skilled technology jobs in the capital. The FinTech will also nurture new technology talent in Scotland by committing to hire graduates from Scottish universities every year for the next five years. […]
