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Taavet and Kristo

TransferWise lands $26m in round led by Baillie Gifford
posted on May 25, 2016

TransferWise, the international money transfer platform, has closed a $26m funding round. Today’s announcement brings the London-based company’s total funding to $117m since it was founded in 2011. The round was led by Baillie Gifford, which joins Andreessen Horowitz, Peter Thiel’s Valar Ventures and Sir Richard Branson as investors in the company. Taavet Hinrikus, CEO and co-founder,…

CB insights

VC investment in UK FinTech ‘outpaced Germany despite decline’ in Q1 2016
posted on May 25, 2016

Funding for VC-backed UK FinTech companies has fallen by 41% on a quarterly basis despite it still outpacing that of Germany, according to KPMG and CB Insights Pulse of FinTech Q1 2016 report. Following on from the collapse of former UK payments unicorn Powa, the report says funding provided by VCs for FinTech firms slowed…

singapore

UK Treasury launches “FinTech Bridge” to boost startups’ access to Asia
posted on May 12, 2016

The HM Treasury has announced a new ‘FinTech Bridge’, which will seek to help UK FinTech startups and investors access the Asian market and expand to Singapore. As part of the announcement, the Treasury said it would also attempt to attract Singaporean FinTech companies and investors to the UK. At a celebratory event, held yesterday…

asia

Azimo raises $15m to expand across Asia
posted on May 5, 2016

Digital money transfer network Azimo has closed a $15m funding round, led by Japanese e-commerce company Rakuten, to aid its expansion across Asia. Founded in 2012, Azimo was created in an attempt to fix the broken and often expensive money transfer industry. The company, which raised $20m in June last year, is already present in…

closing gap on fintech

UK PayTech firms ‘closing the US lead in FinTech investment’
posted on May 3, 2016

UK PayTech startups received $1.8m in seed funding on average last year, and the figures are now nearly on par with similar investment in the US, according to a report released by the Emerging Payments Association (EPA). According to the ‘Investments in PayTech’ report, which analysed the lifecycles of PayTech companies founded or operating in key…

UK sandbox

How the FCA’s Regulatory Sandbox scheme could help UK FinTech startups
posted on May 2, 2016

Sam Pearse, partner at Pillsbury Law, discusses how the Financial Conduct Authority (FCA) is looking to regulate FinTech startups. The Financial Conduct Authority’s (FCA) recently released 2016 Business Plan continued the FCA’s theme of encouraging competition in the financial services industry, such as that seen in the updated Payment Services Regulations (PSRs) in 2015. In…

harriet baldwin

UK FinTech industry to be given new government boost
posted on April 11, 2016

Harriet Baldwin, economic secretary to the UK Treasury, has announced FinTech Bridges, an industry-led panel and professional services hub to ensure that the UK remains the FinTech capital of the world. As she unveiled three new schemes to help spur the country’s FinTech sector, during her keynote speech at today’s Innovate Finance Global Summit, the economic secretary…

Sandbox

FCA keen to foster FinTech innovation with Regulatory Sandbox scheme
posted on April 11, 2016

The FCA is keen to foster innovation in the regulatory space and encourage new FinTech projects, according to Christopher Woolard, director of strategy and competition at the FCA. In a session titled ‘The New Regulatory Sandbox’ at the Innovate Finance Global Summit 2016, Woolard gave further details on the regulator’s new scheme, which provides startups…

kalifa

UK FinTech ‘ripe for opportunities’
posted on April 11, 2016

The UK’s FinTech sector presents various opportunities for “agile and innovative startups,” according to Ron Kalifa, vice chairman of Worldpay – credited with being the UK’s largest IPO last year.   Delivering a keynote speech at today’s Innovate Finance Global Summit, held in London, Kalifa spoke about the UK’s long-history of innovation, whilst noting that…

Downing Street

Banking giants and tech innovators join forces to discuss FinTech in HM Treasury event
posted on February 23, 2016

Members of the UK’s long standing banking infrastructure rubbed shoulders with finance innovators at an event this evening held at No 11 Downing Street as part of FinTech Week. The event involved a speech by Harriet Baldwin, economic secretary to the Treasury, as well as a panel discussion chaired by Eileen Burbidge, partner at Passion…

London (3)

How could London benefit from a chief data officer?
posted on February 13, 2016

Francesco Scarnera is CEO of FinTech consultancy iBe, the new digital and business advisory arm of Be Group. In this article, he discusses Zac Goldsmith’s announcement of a chief data officer to lead a US-style office of data analytics for London. The mayoral race for London is approaching a critical junction, and all candidates are beginning to outline their vision of how they are…

London (2)

London FinTech startup WorldRemit lands $45m in funding
posted on February 10, 2016

London-based money transfer service WorldRemit has landed $45m in new funding from TriplePoint Venture Growth BDC Corp and Silicon Valley Bank. The money, a company statement said, will be used to support the startup’s growth. Having raised $192.7m in funding to date, WorldRemit allows people to send money straight from their smartphone, as opposed to…

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