1. UK – FinTech
“Resilience” is the buzz word for the sector just now. Business Manchester reports on continued capital inflows:
“Figures compiled by Tech Nation and Dealroom for the Digital Economy Council show that investors continue to back some of the UK’s most promising tech teams, despite the challenges posed by Covid-19.
As members of the UK tech sector meet virtually during #LTWConnects events, figures show UK digital tech companies are continuing to attract investment, are still advertising vacancies and are optimistic that they can navigate the crisis. On measures including investment raised by companies and capital raised by investors – which will help sustain the sector for the long term – the UK outperforms all of its European neighbours.
Just as the 2008 financial crisis triggered an entrepreneurship boom in the UK, from which Silicon Roundabout’s cluster of startups has grown into a nationwide network of more than 35,000 businesses, the report demonstrates that UK tech is resilient and has deep foundations to emerge strongly from the crisis. Tens of thousands of jobs were advertised in cities across the UK in 2019 and the start of 2020, with salaries continuing to grow well-above inflation in almost all regions.
The UK capital continues to lead the way and is now established as a global tech leader with London-based companies raising $4bn (£3.2bn) since the start of January, more than Paris, Stockholm, Berlin and Tel Aviv combined. Fintech dominates fundraising in the capital, accounting for 39% of 2020 fundraisings. Enterprise software companies raised a fifth of the money invested in the first five months of the year.”
2. UK - FinTech
With the addition of direct debits, Stripe is one step closer to becoming an all-in-one payments solution for online merchants, and has another differentiator vs rivals like Checkout.com.
Matt Henderson, Stripe’s EMEA Business Lead, will announce the UK launch later this afternoon during his keynote at SaaStock Remote.
“Recurring revenue businesses are going to play an important role in the global economic recovery,” said Henderson.
“We want to make sure Stripe can help these businesses protect and grow their revenues. The ability to collect Bacs payments will help increase conversion, reduce cost, and minimise churn.”
3. UK – FinTech
“A new North East-based bank which aims to boost the supply of property development finance to the UK has named the co-founder of Monzo as its chair.
Paul Rippon stepped down from Monzo at the start of the year in a bid to recharge and spend time with his wife Debbie. He has now joined Newcastle-based GBB as non-executive chair.
Rippon co-founded mobile-only bank Monzo in 2015, helping it to achieve the fastest ever crowdfunding round in just 96 seconds. Today the bank has over four million customers and was recently valued at £2bn.
He has 28 years' experience from roles at eight banks and building societies in the UK and Ireland, including risk director, head of banking and deputy chief executive. He has worked in PLC, mutual, nationalised, private, charity and venture capital funded institutions, and has also served on several boards and sub-committees.
Outside of banking, Rippon spends his week helping to run the family business, an alpaca farm called Barnacre Alpacas in Northumberland.”
4. International – FinTech
OurCrowd schedules an on-trend, online, Covid-conscious conference. Crowdfundinsider reports:
“OurCrowd, a global leader in online capital formation for early-stage ventures, has scheduled the OurCrowd Pandemic Innovation Conference on June 22nd. The virtual event will cover the latest tech solutions pertaining to the Coronavirus including vaccinations, treatments, prevention, and more. The virtual event will also discuss the new world order brought about by the “Pandemic Pivot” addressing topics like changes to work and everyday life as the world settles in to an ongoing health crisis.
OurCrowd states that the online conference will be broadcast from TV studios in Israel and will feature leading investors, entrepreneurs, medical experts, and business leaders from around the world.
Virtual attendees will be able to meet directly with startup CEOs and topic experts in online breakout sessions. There will be live Q&As with guest speakers and the chance to network with other attendees from around the world in real-time.
OurCrowd recently announced a new $100 million Pandemic Innovation Fund. This fund will invest in compelling early stage firms that are tackling the medical challenges and other issues created by COVID-19. OurCrowd expects investors from over one hundred countries to attend online, including some of the world’s biggest investors.”
5. International – AltFi
One of Klarna’s initial offerings includes an overnight money account with an interest rate of 0.35 per cent.