Posts Tagged ‘UK’

Irish fintech player PFS hits €50m revenues and eyes potential IPO

Fast-growing fintech company Prepaid Financial Services (PFS) has just recorded its 10th consecutive year of returning record profits. The company, which has operations in Navan and London, has reported that revenues have hit more than €50m and EBITDA (earnings before interest, taxes, depreciation and amortisation) of €6.2m. The company’s solutions include e-wallets, physical and virtual prepaid cards and […]

Free cash machines closing at record rate

More than 250 free-to-use cash machines are disappearing a month as operators shut unprofitable ones. There are 53,000 free machines in the UK – but the number is shrinking at a record rate as people use less cash. Read more

Cryptocurrency fraud leads to £2 million worth of losses this summer

The UK’s national reporting centre for fraud and cyber crime Action Fraud has warned the public about fraudsters advertising ‘get rich quick’ investments to scam people out of money. The latest statistics from Action Fraud show that in June and July, victims reported losing £2,059,501.29 to cryptocurrency scams – an average of £10,095.59 per person. In the […]

Fintech Firm Billon Partners With FIS to Explore Blockchain Tech Solutions

UK fintech firm Billon has signed a letter of intent with international financial services tech provider Fidelity National Information Services Inc. (FIS) to integrate blockchain tech solutions. FIS will work with Billon to assess the use of Billon’s distributed architecture for document and identity management for the FIS international fintech suite and explore joint product development […]

UK Govt. Researches Use of Blockchain Smart Contracts In Law

The UK Law Commission is in the process of codifying the use of smart contracts into British law as part of an ongoing effort to update British law and make it relevant to of the challenges of modern technology. This was revealed in the Commission’s 52nd annual report covering the period from April 1, 2017 […]

British Report Says Only 5% of Cryptocurrency Investors Make Money

The IW Capital group, a Mayfair-based SEM investment house, recently conducted research on cryptocurrency investment in the UK and found out some alarming things. The report has revealed that 38% of Brits do not understand or know anything about crypto. IW Capital has also pointed out that only 5% of cryptocurrency investors have made financial gains from […]

UK fintech industry fears Brexit-induced talent squeeze

Fintech industry investors and entrepreneurs have vented their concerns at London Fintech Week: with the UK’s imminent exit from the EU,the growing fintech sector is at risk of losing momentum, with access to talent and the continued ability to do business across the EU single market seen as vital. Venture capitalists, which invest hundreds of […]

British Savings & Investment App Moneybox Secures £14 Million Through Series B Funding Round Led By Eight Roads

Moneybox, a UK-based savings and investment app, successfully secured £14 million through its Series B funding round, which was led by Fidelity International’s proprietary investment arm, Eight Roads, with participation from existing investors Oxford Capital Partners and Samos Investments. The latest investment round reportedly brings the total amount raised by Moneybox to 21.3 million. Moneybox mobile […]

FinTech startup Paysend gets $20m to shake up global remittances

UK FinTech company Paysend has raised $20m in a round led by MARCorp Financial. The company also drew support from existing investors. Paysend will use the money to launch new services and to boost its global expansion plans. Launched early last year, Paysend has created a global card to card payment infrastructure in a bid to simplify […]

London fintech delegation reveals deeper Australia-UK tech links

Ten Australian fintech start-ups are in London this week on a trade delegation arranged by the Australian British Chamber of Commerce, a sign of deepening ties between the two nation’s technology scenes. The start-ups in the group are Everproof, Trade Ledger, TRAction FinTech, Adviser Rating, InDebted, CYDARM Technologies, HyperIntel, Airlock Digital, Aleron and Randtronics. The group […]