Arguably the most impactful innovation of the modern era of open banking-powered finance is the introduction of competition for cross-border payments. Where once sending money internationally was time consuming, inefficient and expensive, now consumers and businesses have a host of options for fast and cheap cross-border transfers. Here are Britain’s biggest cross-border payments companies. (Note: ... Read more ›
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This week’s UK tech funding deals include AI 3D content generation startup Rival, hospitality CRM platform developer Embargo and more. UKTN tracked £6.05m worth of UK tech investment this week (24 March to 28 March), an 90% week-on-week decrease across three funding rounds. Here’s your weekly roundup of UK tech startup funding deals. Rival – ... Read more ›
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Public sector data scientists will be trained to use AI tools as part of a government scheme to plug the skills gap holding back its Plan for Change ambitions. The 12-week AI accelerator will teach machine learning engineering skills to help civil servants use automation to tackle public sector problems. The programme will be open ... Read more ›
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Improving gender equality in tech could deliver a material boost to investor returns, research has found, amid a government-backed campaign to support more female founders. Figures compiled by Beauhurst suggest woman-led businesses deliver 35% higher returns than male businesses, despite receiving just 2% of venture capital funding. The figures were part of a female entrepreneurship ... Read more ›
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Jess Woodward-Jones is the co-founder of Vizzy, a recruitment platform that works with hiring businesses to look beyond CVs. In this week’s Founder in Five Q&A, Woodward-Jones discusses why building a successful business will always be hard no matter how good the idea is, the transformational power of effective note keeping and the problems with AI ... Read more ›
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Revolut’s valuation has been upgraded by one of its best-known shareholders, implying a rise to $48bn. The upgrade by Schroders Capital Global Innovation Trust plc, an investment trust managed by Schroders, is an 85% jump compared to the valuation it gave the London fintech a year ago. The trust controls a small stake in the ... Read more ›
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Cypriot tech experts living in London are to get a visit from their President wanting to lure them home to take up jobs in the booming STEM sector. The strategy – dubbed the ‘Brain Gain’ – is backed up with lucrative incentives including tax breaks, free health care and housing subsidies. It comes as a ... Read more ›
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Commercial viability can be the biggest enemy of emerging technologies. It takes years for novel, capex-intensive innovations to build a big enough market to survive in. Historically, therefore, many entrepreneurs have found that there are few better customers of innovation than the military. Take semiconductors. Microchips are ubiquitous now in countless consumer and business-facing ... Read more ›
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Senior officials at the UK government’s tech department met with Google and Anthropic to explore the use of AI in public services as chancellor Rachel Reeves turns to automation to make the state more efficient. Officials at the Department for Science, Innovation and Technology (DSIT) met with Anthropic in mid-December to discuss “Anthropic’s work on ... Read more ›
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Revolut is to ramp up its crypto marketing effort with a number of new hires across Europe. The London fintech is hiring product marketing managers for crypto in the UK, Poland, Spain and Portugal, responsible for creating and owning a new marketing strategy for cryptocurrency. Successful candidates will be tasked with helping bring more products ... Read more ›
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The government’s plan to rapidly integrate AI into public services is “for the birds” because of “out of date” technology and “poor quality” of data, a damning parliamentary report has found. Labour’s Plan for Change strategy hinges heavily on the idea that the public sector can provide better services cost-effectively by outsourcing work to automation. ... Read more ›
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The parent company of OnlyFans has been handed a £1.05m fine for failing to accurately respond to requests for information about its age assurance measures. Fenix International, which owns the platform known for hosting explicit content, was approached by Ofcom on two occasions in 2022 and 2023 with requests for information on how it was ... Read more ›
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Universities are in trouble. Budgets are tight, a quarter of leading UK higher education institutions are cutting staff and student recruitment for almost every kind of degree fell in 2024. The cause? Perhaps it’s tuition fee caps and rising costs, but ultimately, there is a real concern that they are unable to bring in enough ... Read more ›
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Startups change fast. One day you and your co-founders are locking down pre-seed funding to develop an MVP. Blink, and suddenly you’re managing a scaling team, milestone customer acquisitions, and major VC raises. But there’s one element of your operations that can often fail to evolve at the same pace – the board. This is ... Read more ›
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London fintech Abound has ramped up its lending capacity with a new £250m financing deal with Deutsche Bank. The latest funding, which allows the firm to offer more consumer loans and takes its total lending capacity to £1.6bn, provides additional firepower to scale Abound’s operations, enhance financial inclusion, and modernise the lending sector. The financing ... Read more ›
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EnSilica shares rose as much as 6% in early London trade after the semiconductor business unveiled a new contract worth $18m. The Oxford-based business did not name its new customer but said it was a “leading European based supplier of electromechanical products” and a deal using an Arm-based mixed signal sensor interface ASIC (application-specific integrated ... Read more ›
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We live in an uncertain world. Or, as Rachel Reeves put it in the House of Commons this afternoon: “Mr speaker the world is changing. We can see it and we can feel it.” It was a platitude that the chancellor returned to over and over during her 30 minute Spring Statement before Parliament. Faced ... Read more ›
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Labour’s second budget statement is taking place today, with Chancellor Rachel Reeves expected to announce a slew of fiscal policies including cuts to welfare spending, a boost in the defence budget and further measures to support the government’s plan for growth. The Office for Budget Responsibility is expected to present a blow to these ambitions ... Read more ›
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AI-focused investment funds have delivered an average return of just 2.5% in the past year, having been outperformed by other sectors and generalist funds, according to new figures. Though artificial intelligence has attracted huge investment in 2024 – an estimated $110bn globally – AI funds offered a fairly modest rate of return, according to research ... Read more ›
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The average stake held by British universities in their spinouts fell sharply in 2024 after encouragement from a government-sponsored review. Figures from the Royal Academy of Engineering and Beauhurst revealed that in 2024, the average university equity stake was 16%, down from 22% the previous year. Universities have been encouraged to take smaller ownership shares ... Read more ›
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Most popular sources
Business Insider
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57% 14 |
Mashable
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25% 21 |
Engadget
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3% 3 |
Gizmodo
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3% 0 |
Financial Times
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3% 2 |
| View sources » | |
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29.03.2025 17:03
Last update: 16:56 EDT.
News rating updated: 22:52.
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