February 23, 2023
AutoRek rebrands as it gears up for global expansion # Financial data management firm AutoRek has rebranded with a new look and logo as it plans to expand globally.
The Glasgow-based fintech firm provides a platform for financial control, data management and regulatory reporting to clients in the banking, asset management and insurance sectors. Its clients include Standard Life Aberdeen, RBS and Aviva.
AutoRek’s rebranding comes as the company aims to expand its operations globally, with a focus on the US and Asia-Pacific markets.
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February 23, 2023
Cybersecurity firm Siren secures €12m in funding for intelligence platform # Irish cybersecurity firm Siren has raised €12m in funding from the European Investment Bank to further develop its intelligence platform for law enforcement and large corporations.
The platform provides investigators with an advanced search capability, intuitive data visualization and report creation functionality, while protecting against fraud and cyber threats. The new funding will be used to bolster the company’s product development and increase headcount at its R&D center in Galway by 50% over the next two years.
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February 23, 2023
FinTech Alliance Partners with Seedrs to Help Companies Raise Capital # The UK FinTech Alliance has announced a new partnership with Seedrs, one of the largest online investment platforms in the world. The alliance, which is backed by the UK government and operates in partnership with the UK Department for International Trade, aims to support the country’s prominence as a top global FinTech hub by connecting companies with resources to help them grow.
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February 23, 2023
Gimo Raises $5.1m in Series A Funding Round Led by TNB Aura # Gimo, a Vietnamese fintech start-up, has raised $5.1 million in a series A funding round led by TNB Aura. Existing investors Integra Partners, Resolution Ventures, Blauwpark Partners, ThinkZone Ventures and Y Combinator also participated in the funding round.
Co-founded by Quan Nguyen, Gimo aims to help small and medium-sized businesses (SMEs) with digital transformation by providing them with access to finance.
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February 23, 2023
HedgeFlows Launches UK-based Fintech Platform for SMEs with £2m Fundraise # HedgeFlows, a UK-based fintech platform that offers small and medium-sized enterprises (SMEs) with a solution for managing foreign payments, cashflows, and invoices, has raised £2 million in its latest funding round. The round was led by unnamed investors and brings the total capital raised by the company to £4 million.
HedgeFlows is licensed and regulated by the UK Financial Conduct Authority (FCA) and aims to help SMEs manage international trade and payments, which have historically been underserved by larger financial institutions.
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February 23, 2023
Ingka Group Invests £9m in UK Fintech DirectID # Ingka Group, the world’s largest furniture retailer, has invested £9m in UK fintech DirectID. The funding was provided through Ingka’s investment arm, Ingka Investments, and will help accelerate the market launch of DirectID’s product offerings, expand the company’s credit risk services into new markets, and develop new credit risk models across the credit life cycle from origination through to portfolio management and collections.
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February 23, 2023
London-based Carmoola raises £5m to transform used-car finance # London-based fintech start-up Carmoola has raised £5m in funding to revolutionise the used-car finance industry. The investment was led by investors Kindred Capital and Firstminute Capital, with participation from industry veterans such as Jeff Fegan, former CFO of Barclays and Lehman Brothers, and Kieran Donnelly, former CEO of Santander Consumer Finance UK.
Carmoola’s platform offers a new approach to used-car finance, making it simpler and more transparent for buyers and sellers.
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February 23, 2023
Neobanks Outpacing Legacy Banks in European App Adoption # Neobanks are winning the race against traditional banks in the adoption of super apps and banking apps in Europe, according to a new report by App Radar.
The study examined the adoption of banking apps among European customers and found that neobanks have made the biggest gains in 2022. The report analysed the Google Play Store downloads and found that Atom Bank has seen app downloads increase by 101%, Viva Wallet by 54%, Tandem Bank by 53%, Monzo by 49%, Revolut by 31% and Metro Bank by 28%.
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February 23, 2023
UK Fintech Sikoia Raises £6m in Seed Funding Round # London-based fintech Sikoia has raised £6 million in a seed funding round to expand its platform and support its growing customer base. The funding round was led by VC firm Balderton Capital and includes participation from existing investors, including Anthemis Group and Seedcamp.
Sikoia offers a platform that uses machine learning and artificial intelligence to help banks and financial institutions better understand and manage their regulatory risks.
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February 12, 2023
Amsterdam’s Dutch Founders Fund invests €4.1M in London fintech kennek # Dutch Founders Fund, ffVC, and Plug and Play Ventures led a $4.5 million (approximately €4.1 million) pre-seed round of funding for London-based fintech business kennek, it was announced on Thursday.
The British company says it will use the money to expand faster.
The founders of startups such as WeTransfer, Just Eat, Treatwell, and fonQ have created the Dutch Founders Fund (DFF) in Amsterdam.
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