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When the term unicorn emerged back in 2013, there were no more than forty private companies with a market valuation of one billion dollars in the world. Over the last seven years, the number of these financial giants enlarged 15 times and jumped to nearly 600 in 2020. The ten largest unicorn companies in the…
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Angry customers have hit out at the closure of the UK arm of Germany’s N26, less than two years after opening in Britain. The Berlin-based digital bank said on Tuesday it will close all of its existing UK accounts by 15 April because it is “no longer able to operate in the UK with our…
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Trussle’s Philip Kelvin (pictured) has had greatness thrust upon him – at least for the moment. The UK’s first online mortgage broker’s head of strategy landed in the hot seat last month after the firm announced that chief executive Ishaan Malhi was leaving with immediate effect, five years after co-founding the company. The firm’s chairman…
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German digital bank N26 said it will close its UK operation, blaming Britain leaving the European Union. The Berlin-based challenger bank said it would close all of its existing UK accounts by 15 April because it is “no longer able to operate in the UK with our European banking licence”. The business has around 5…
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Revolut said customers will now be able to see all their financial accounts inside its banking app – promising them a 360-degree view of their finances for the first time. The UK’s largest challenger bank said today its British customers are now able to connect to external money accounts “allowing them to see all of…
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Starling Bank has raised £60m as the UK challenger bank prepares for European expansion. The London-based app-only lender said the cash will allow it to “ramp up our growth” as it bids to become “a world-leading digital bank”. The bank has opened 1.25 million customer accounts and holds more than £1.25bn in deposits since it…
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Jeff Lynn might have been the first person in the world to launch a crowdfunding firm, but eight years on he is busy making other plans. The 41-year-old American who co-founded Seedrs says the firm has the potential to grow into “a multibillion-pound business”, and he is in a hurry. Lynn (pictured) tells LearnBonds: “This…
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Digital industries contribute £149bn a year to the UK economy. That is equivalent to £400m a day and adds up to 7.7 per cent of British gross domestic product, according to the Department for Digital Culture Media and Sport (DCMS) yesterday. The data showed the digital sector grew by 7.9 per cent in 2018 compared…
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Goldman Sachs and Amazon are about signing an agreement that would allow Amazon merchants to receive loans from Goldman Sachs, according to reports. The bank is developing software that would enable it to plug into the existing loan platform on Amazon. The loans would be given directly to Amazon Merchants through the existing loan platform…
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The global crowdlending industry has grown dramatically over the past decade, particularly in the business sector. This method of raising cash, commonly known as peer-to-peer lending, appeals to many small and medium-sized companies who get quick access to cash at favourable rates compared to a traditional bank loan. The UK largest peer-to-peer lender, Funding Circle,…
