London

2 Swiss Startups Chosen for PwC’s UK Wealthtech Accelerator Programme

PwC has announced the latest cohort of fintechs who have joined the Wealth Scale programme which will support nine wealthtech businesses. Two of the startups chosen were Swiss-based; Conser and 3rd Eyes Analytics. The other startups that made the list

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Bank of England Establishes a Digital Currency Taskforce

The Bank of England and the UK Treasury have announced the joint creation of a taskforce to coordinate the exploration of a potential Central Bank Digital Currency (CBDC). A CBDC would be a new form of digital money issued by

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Open Banking Network Truelayer Raises $70m

TrueLayer announced it has secured a $70m Series D investment round led by new investor Addition. The latest raise reflects the growing demand for its open banking-based services and marks another significant milestone for TrueLayer on its mission to open

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European Trading-App Freetrade Secures $69 Million in Series B Funding

Freetrade, a London-based investment platform, announced that it has raised $ 69 million during a Series B funding round. The company said that the funds will be used to accelerate its growth in international markets and allow the team to

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Digital Banking Solution Provider Meniga Closes €10 Million Investment Round

Meniga, a provider of digital banking solutions, announced that it has closed a €10 million strategic investment round. The round was led by institutional investors, Velocity Capital Fintech Ventures, and Frumtak Ventures. Other participants in the round include Industrifonden, the

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33% of European Fintechs Face Regulatory Intervention Due to Partner Banks

ClearBank, UK’s cloud-based clearing bank, has released a report that revealed 33% of European fintechs have faced regulatory intervention due to agency banking resiliency failures. Agency banking is when a fintech offers its customers a service that is provided and

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Payments Provider SumUp Raises €750 Million in Debt Facility

London-based global payments service provider SumUp announced that it has raised a €750 million facility from Goldman Sachs, Temasek, Bain Capital Credit, Crestline, and funds managed by Oaktree Capital Management. The current round was oversubscribed due to high demand from

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ICC and Finastra Team up To Close the Growing Trade Finance Gap

The International Chamber of Commerce (ICC) and Finastra, a London-based financial services software and cloud solutions provider, have committed to a strategic initiative to tackle the growing trade finance gap. Both organisations are orchestrating an ecosystem and exploring the development

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BNP Paribas Launches Instant Payments for European E-Commerce Merchants

Token, a London-based open banking payments platform, and BNP Paribas, announced the launch of online payments service to combine the power of SEPA Instant and PSD2 APIs, two major initiatives from the European Payments Council. Developed with Token, BNP Paribas

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UK Digital Bank Starling Raises £272 Million Funding, Secures Valuation of £1.1 Billion

UK digital bank Starling announced a £272 million (US$ 376 million) Series D funding round led by Fidelity Management & Research Company. The new investment values the company at £1.1 billion (US$ 1.5 billion) pre-money. The funding will be deployed

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