Star stockpicker apologises for ‘having too much’ Wirecard stock January 28, 2020 Former Jupiter fund manager Alexander Darwall has apologised to investors for making too large a bet on fintech Wirecard, which is facing scrutiny over its accounting practices. At one point Darwall, who left Jupiter in July to establish his own fund management business, had over 17 per cent of his £1bn investment trust in the [...]
Tech Nation chair Eileen Burbidge steps down January 28, 2020 Eileen Burbidge, the chair of government-funded industry body Tech Nation is stepping down after five years in the role. Tech Nation is responsible for promoting Britain’s tech sector. As well as advising startups and running a support network for founders looking to grow their businesses, it runs a visa scheme for technology workers. Burbidge was [...]
Fintech startup Upgrade Pack raises $5m seed round for travel rewards January 28, 2020 Upgrade Pack has today surpassed £5m in seed funding after securing fresh investment. The Richmond-based startup provides flight and hotel upgrades as part of a travel-focused rewards app by connecting directly to airline and hotel software. It did not disclose its investors, though Havisham Group led an earlier part of the fundraise last year. The [...]
Funding Circle: Finance chief quits small business lender January 27, 2020 The chief financial officer of small business lending platform Funding Circle is stepping down. Sean Glithero will leave the lender later this year, Funding Circle said. He will be replaced by Oliver White, who is currently chief financial officer of Provident Financial’s credit card unit, Vanquis Bank. Funding Circle’s platform, which has around 80,000 investors, [...]
Philip Hammond joins fintech startup Oaknorth as adviser January 27, 2020 Former chancellor of the Exchequer Philip Hammond has joined small business lender Oaknorth as an adviser. Hammond will work with clients of the fintech startup and “senior policymakers around the world” on the issue of small and medium-sized firms’ access to loans. The ex-Treasury boss said: “I am delighted to be joining Oaknorth’s advisory board [...]
Bank heavyweights inject $80m into City fintech Currencycloud January 27, 2020 Cross-border payments startup Currencycloud has today revealed a fresh $80m (£61m) funding injection from a number of new investors. Visa, World Bank arm International Finance Corporation, BNP Paribas, Siam Commercial Bank and Softbank spinoff SBI Group all joined the series E round’s roster as fresh backers. Existing investors Sapphire Ventures, Notion Capital, Anthemis, Accomplice and [...]
Shares in AI specialist Blue Prism surge after revenue jumps January 23, 2020 Shares in Blue Prism, a London-based robotic automation specialist, jumped over 20 per cent today after the company reported an 83 per cent increase in revenue. Blue Prism’s revenue for the 12 months ending 31 October rose to £101m, up from £55.2m in 2019, with monthly recurring revenue (MRR) coming in ahead of expectations. The [...]
Small business finance fintech Liberis raises £32m to boost growth plans January 22, 2020 London-based fintech Liberis has raised £32m to help fund the growth of the small business finance provider and expansion in the US and Europe. The funding raise is the first institutional equity fundraise by Liberis, which lends money to small businesses against their future debit and credit card sales, and was led by investment firm [...]
EY TaxChat: making Self Assessment quick, easy and cost effective January 17, 2020 | City Talk According to HMRC, 11.5m UK taxpayers were required to complete a Self Assessment return in 2019. EY research¹ shows that many worry about getting something wrong if they do it themselves (33 per cent) and find the process complicated and time consuming (15 per cent). A further 12 per cent also said they can’t afford [...]
KKR raises $2.2bn for second next-gen technology growth fund January 15, 2020 Investment firm KKR has closed its second Next Generation Technology Growth fund at $2.2bn (£1.7bn) — over three times the size of its predecessor. The fund will be dedicated to technology growth equity investment opportunities in Europe, North America and Israel, KKR said. Read more: World’s largest hedge fund sees gold price rising 30 per [...]
