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Capitolis has raised $40m from investors as the capital markets fintech plans to hire more staff and upgrade its technology. The New York-based firm raised the cash in a Series B fundraising led by US venture capital firms Spark Capital and SVB Capital. The business, formed founded in 2017 by a group of former trading…
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Robinhood plans to launch in the UK next year, the first unit the commission-free trading app will run outside the US. The Californian-based firm said it has opened a waiting list for UK customers, with an official launch will come “in early 2020”. The trading app will offer investors the chance to trade over 3,500…
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Money management app Onedox will close just four years after launching, amid promises to manage customers’ “household bills, securely, conveniently and for free”. The London-based fintech, which said it has downloaded 800,000 home bills and helpied customers manage over £25m a year, said it will close on 1 December after hitting a financial “roadblock”. “Without…
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HSBC is inviting small firms to begin testing its new app-only bank Kinetic, as a wave of traditional and challenger banks compete for small business accounts. The global bank, with more than 40 million customers in 65 countries, said it has talked to “over 2,400 UK businesses” and is now ready to begin beta trials…
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Plum has completed its $7.5m fundraising as the money management app pledges to “invest heavily in our product” and plans foreign expansion next year. The start-up closed a $3m investment from the European Bank for Reconstruction and Development and private equity firm and VentureFriends earlier this week. Christian Faes, founder and chief executive of property…
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Google plans to offer a checking account in joint venture with Citigroup, in the latest push by big tech giants into financial services. The Silicon Valley group is currently working on the project, codenamed project Cache, with the Wall Street powerhouse, and a credit union at Stanford University. The account is due to launch next…
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An Australian payments firm has bought an Irish rival to boost its fintech clients and open banking services around the world. Brisbane-based EML Payments has agreed to buy PrePaid Financial Services (PFS) Ireland for £226m, plus an earn out component of up to £55m. PrePaid Financial Services has become one of the fastest-growing e-money and…
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MarketInvoice has changed its name to MarketFinance, to mark the broader range of loans the business lender offers. The London-based fintech said the rebrand highlights that the eight-year-old business now services larger businesses with both invoice finance and loans. It adds that the move allows firms to choose from a variety of secured and unsecured…
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Revolut has appointed City grandee Martin Gilbert as chairman, as the digital bank bids to control its corporate governance and battles accusations of a toxic company culture, amid rapid growth. The London-based fintech said Gilbert will take up the post of non-executive chairman on 1 January next year. The move comes after the app-only bank…
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Tandem has launched in Hong Kong with the digital bank planning to offer its range mortgages, loans and credit cards. The move is the start-ups first venture into a foreign market, and comes in partnership with Hong Kong-based financial services group Convoy. The London-based fintech and Convoy signed a deal last November, which saw the…
