UK Finance says £754m stolen from bank customers in first half of 2021 as scammers capitalised on CovidCoronavirus – latest updatesSee all our coronavirus coverageFraud in the UK has risen to a level where it poses a “national security threat”, accordi…
Evergrande: will it collapse and what would happen if it did?
If Chinese property company Evergrande sinks under its $300bn debt its failure would resound across the global economyEvergrande Real Estate – or Heng Da Group in Chinese – owns more than 1,300 building projects in more than 280 cities across China. C…
TrueLayer nabs $130M at a $1B+ valuation as open banking rises as a viable option to card networks
Open banking — a disruptive technology that seeks to bypass the dominance of card networks and other traditional financial rails by letting banks open their systems directly to developers (and new services) by way of APIs — continues to gain ground in the world of financial services. As a mark of that traction, a startup […]
Airwallex raises $200M at a $4B valuation to double down on business banking
Business, now more than ever before, is going digital, and today a startup that’s building a vertically integrated solution to meet business banking needs is announcing a big round of funding to tap into the opportunity. Airwallex — which provides business banking services both directly to businesses themselves, as well as via a set of […]
Shares in China’s Evergrande plunge again as fears of contagion grow
Hong Kong stock fell up to 17% amid default fears that are beginning to have a knock-on effect on other marketsShares in the embattled Chinese property company Evergrande have plunged again as investors weigh up whether the group’s massive debt problem…
The surge in ‘buy now pay later’ – and why we should be worried
Fintech firms are jostling to offer millennials interest-free payment plans as they shop online. Retailers love it of course, but all this unregulated lending is ringing alarm bellsShoppers tempted by Boohoo’s bestselling satin skater dress are bombard…
Nuula raises $120M to build out a financial services ‘superapp’ aimed at SMBs
A Canadian startup called Nuula that is aiming to build a superapp to provide a range of financial services to small and medium businesses has closed $120 million of funding, money that it will use to fuel the launch of its app and first product, a line of credit for its users. The money is […]
‘Thin file’ loans startup Koyo closes $50M Series A led by Force Over Mass
Koyo, a fintech startup using open banking to offer loans to people with poor credit histories, has closed a Series A funding round of $50m in debt and equity led by Force Over Mass, with participation from existing investors Forward Partners, Frontline Ventures and Seedcamp. New investors in Koyo include Force Over Mass, Matt Robinson […]
Has Covid ended the neoliberal era? | Adam Tooze
The year 2020 exposed the risks and weaknesses of the market-driven global system like never before. It’s hard to avoid the sense that a turning point has been reachedIf one word could sum up the experience of 2020, it would be disbelief. Between Xi Ji…
Israel’s maturing fintech ecosystem may soon create global disruptors
What is it about Israeli-founded fintech startups that stand out from their scaling neighbors across the pond?