Monzo raises more than $500m from investors at $4.5bn valuation
The neobank has already closed the first batch of money — $480 million — with more expected soon.
UK
Payroll start-up Pento raises $35m in Series B
The Series B was co-led by new investor Tiger Global and existing investor Avid Ventures.
Paytech Recharge.com hires David Lindheimer as CPTO
The appointment will bolster the paytech’s global expansion plans, CEO says.
Brewin Dolphin goes live with Avaloq’s core banking system
One of the UK’s largest wealth managers has gone live with new SaaS-based core.
Accounting software firm Tipalti hits $8.3bn valuation with $270m Series F round
Tipalti says new funding places it “among the most valuable private fintech companies in the world”.
APIs, open banking and the changing face of financial services
The pandemic played a substantial role in boosting the adoption of open banking and APIs.
Digital wealth manager Wealthsimple exits UK
All eligible accounts will be transferred to Moneyfarm in January.
Start-up Quantile acquired by London Stock Exchange Group
LSEG will pay a maximum aggregate consideration of up to £274 million to Quantile’s shareholders.
DIY investment platform Tillit launches
Tillit offers “a curated investment universe, exclusive content and a fee that is based on time rather than wealth”.
Regtechs PassFort and kompany acquired by Moody’s Corporation
Both companies will be integrated into Moody’s KYC business within Moody’s Analytics.
Republic to buy Seedrs to create global private investment player
The $100 million deal brings together the US and UK-based partners.
Abrdn to acquire online investment platform Interactive Investor in £1.49bn deal
Abrdn had previously confirmed it was in talks to acquire the company in November.
Wise to add 1,000 staff across the globe in 2022
The recruitment drive would take its total headcount to 4,000.
The Bank of London launches in UK with $1.1bn valuation
The company received its first bank licence as the sixth principal clearing bank of the UK.
Money management app Plum raises $24m from investors and crowdfunding
The London-based company plans European expansion and product development.
New e-money fintech Twig launches in UK
Twig customers can turn their unwanted possessions into cash.
TSB to close 70 branches across UK as digital-first banking becomes norm
Over 90% of customer transactions are now carried out digitally, the bank says.
Telecoms finance firm Lenderwize completes €100m Series E1 round
International expansion is planned for the niche London-based fintech.
Revolut buys SME hospitality ePOS software provider Nobly POS
Nobly POS software will be integrated with Revolut payment offerings internationally.
UK challenger Allica Bank completes £110m Series B funding round
The cash will go towards enhancing Allica’s proprietary technology and client support.
FairXchange marks United Fintech’s third acquisition in its first year
London company completes busy first 12 months as it builds a capital markets solutions business.
Allica Bank makes first major acquisition with AIB’s GB SME lending portfolio
Deal will bring the challenger bank around 2,000 SME customers.
UK challenger Bank North goes crowdfunding
The SME focused start-up aims to raise £1 million ahead of its Series B funding round.
Airwallex adds $100m funding with Series E extension
The new capital injection adds to the firm’s $200m Series E funding.
Social investing app Shares hires former Revolut product lead as CPO
Harjas Singh will be based in the company’s London office.
Fusion Credit Union selects BankBI for financial performance management
Deal stems from partnership between BankBI and Canadian credit union solutions firm Celero.
Amazon to ditch UK-issued Visa credit cards
The move is blamed on high transactions fees.
UK banks hit by mobile and online banking disruption this morning
Lloyds Bank, Halifax and Bank of Scotland have seemingly experienced service disruption.
Bank North taps Vermeg to support regulatory reporting ahead of launch
The supplier’s AgileReporter platform forms part of the UK regional bank’s tech stack.
Suits Me moves from Contis to PPS for BaaS
The UK alternative lender is expanding its services using the new platform.
Cybersecurity platform Immersive Labs acquires US start-up Snap Labs
“The two platforms are a natural fit,” says Snap co-founder Chris Myers.
MasLife embarks on crowdfunding ahead of full launch of app
Combining financial and health wellbeing, the firm has a market valuation of £21.8m.
London BNPL firm Zilch worth more than $2bn following $110m Series C
The company plans a hiring spree in Miami, where its US headquarters are located.
UK checkout fintech Volume aims to simplify online payments
2021-founded company plans to target both commercial firms and challenger banks as customers.
ClearBank partners SME bank Recognise to provide Confirmation of Payee
CoP dramatically reduces the risk of fraud, says ClearBank CEO.
Bank of England to launch UK CBDC consultation in 2022
Following consultation and development phase, CBDC could launch in second half of this decade.
Aiimi wins £1.3m data analytics contract with FCA
Milton Keynes-based data firm wins regulator contract running until April 2024.
UK fintech MoneyBoss plans on P2P personal finance
Wealth management fintech combines social media with online learning and account aggregation.
Barclays shuffles executive team as new group CEO settles into role
C.S. Venkatakrishnan stepped into the top job following the departure of former chief Jes Staley.
Asset manager Abrdn confirms Interactive Investor takeover talks
Abrdn confirmed talks are taking place, but made clear nothing is finalised as yet.
