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Payment stocks: Traders bet on fintechs over big players

Mohit Oberoi

Analysts are bullish on digital payment processing firms such as Square and Discover Financial Services. But at the same time, some are bearish on established payment companies. UBS has downgraded American Express to a sell as it sees a slow recovery for the company. Oppenheimer has downgraded Mastercard to market perform. Warren Buffett’s Berkshire Hathaway…

checkout ceo guillaume pousaz

Checkout.com fundraise hits $5.5bn valuation, now one of Europe’s most valuable fintechs

London-based digital payments startup Checkout.com has become one of Europe’s most valuable financial technology firms after hitting a $5.5bn valuation, almost tripling its value in under 18 months. The company, founded in 2012,  said on Monday it achieved this valuation after completing a $150m Series B funding round, intended to push the business towards a…

Wirecard missing $2bn burns star UK stock picker’s investment fund, fintech boss resigns

The Wirecard accounting scandal has hit the value of the investment fund managed by UK top stock picker Alexander Darwall (pictured), as the digital payment provider accounted for nearly 10% of the fund’s portfolio at the time the news broke in. Shares of the European Opportunities Trust (JEO) managed by Darwall, one of the two…

Interview: Funding Options chief executive Simon Cureton – Chancellor’s £350bn business loan scheme leaves fintech lenders out in the cold 

Roger Baird

Millions of Britain’s small businesses are desperate for cash to cover wages a month into the coronavirus lockdown – but the alternative finance industry feels the government has left them with their noses pressed against the window while high street banks dither over approvals. That is certainly the view of Funding Options chief executive Simon…

UK fintech lenders sidelined in government’s £330bn bid to fund small firms

Galina Mikova

The British Business Bank has added five new lenders to the Coronavirus Business Interruption Loan Scheme (CBILS) task force – The Co-operative Bank, Cynergy Bank, OakNorth Bank, Funding Circle and Starling Bank. This is the latest step taken by UK chancellor Rishi Sunak (pictured) is part of its £330bn package to contain the havoc wreaked…

Fintech lender Funding Options sees £1bn spike in loans from small firms frustrated by high street banks

Small business lender Funding Options said it received thousands of applications worth over £1bn in March from crisis-strapped businesses, a huge spike compared to previous months. Small business owners said the government’s emergency coroanavirus loans are being denied to them as major banks such as HSBC, NatWest, Barclays and Lloyds seek punishing rates of interest….

UK FinTech

Global fintech startups raise $138bn in 2019, ‘just shy’ of record

Siraj Sarwar

Investment for global fintech startups in 2019 was “just shy” of record levels 12 months before, despite trade tensions between China and the US and ongoing Brexit negotiations. Worldwide investors poured a total of $135.7bn into the sector across 2,693 deals last year, which “fell just shy of 2018’s record” of $141bn, according to the…