TransFICC, a London-based company providing software tools for fixed income and derivate markets, has secured an additional $17m (£12.9m) of funding in a Series A extension. The investment, led by AlbionVC, follows the original Series A funding round in April 2020 for £5.75m. Existing shareholders including Citi, HSBC, Illuminate Financial, ING Ventures, and Main Incubator ... Read more ›
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Uber has expanded its option for passengers to request electric vehicles (EVs) to the whole of London. The service, called Uber Green, now allows all 3.5m London-based customers to request electric cars to pick them up, at no extra charge. Despite the price for riders staying the same, Uber has said that drivers operating Uber ... Read more ›
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Parcelly, a logistics tech platform based in London that lets ecommerce companies hire unused storage space, has secured a Series A funding round of $6.7m (£5m). The funding, led by Scania Growth Capital, will be put towards Parcelly’s strategic expansion into both continental Europe and the US. The company has plans to triple the number ... Read more ›
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Amid the meteoric rise of the UK tech industry, two areas have seen an enormous boost in both popularity and investment: fintech and crypto. Now, the two are increasingly competing for the same talent. The UK has become a major leader in the financial technology sector, claiming the top spot in Europe for fintech investment ... Read more ›
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The number of ransomware attacks reported to the UK’s data watchdog and financial regulator rose dramatically last year, reflecting the scale of the threat that file-encrypting malware poses to businesses. International law firm RPC found that the number of UK ransomware attacks reported to the Information Commissioner’s Office (ICO) in 2021 doubled from 326 in ... Read more ›
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Episode five of the UKTN Podcast is out now. This week’s show features two guests: Matthew Hodgson and Amandine Le Pape, co-founders of secure collaboration messaging platform Element. During the show, Element CEO Hodgson and COO Le Pape reveal how close the company came to bankruptcy and how Element pivoted its customer base early on. ... Read more ›
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Weaver, a digital contract negotiation startup for homeowners and architects, has closed a £3m seed round led by Btov Partners. Founded in 2017, Weaver is a digital platform that uses an algorithm to match homeowners seeking major renovation projects with architects. The service creates a centralised experience for users who can compare prices and negotiate ... Read more ›
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Israeli payroll and HR software company Papaya Global is set to acquire London-based money transfer company Azimo. The fee is currently undisclosed. However, a source close to the deal told TechCrunch that the deal values Azimo at between $150m and $200m. Cloud-based HHR and payroll company Papaya Global will be acquiring the entire company and ... Read more ›
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The UK tech industry is now valued at $1tn (£764bn), a landmark milestone that has previously only been reached by the US and China. The figures, which combine the valuations of the UK’s public and private technology companies, puts the value of the UK tech industry at more than double that of Germany and almost ... Read more ›
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Sourceful, a startup that has created a platform to help businesses reduce their carbon footprints in packaging and supply chains, has raised $20m (£15.2m) in funding. The Manchester-based company will use the fresh capital for international expansion, doubling the headcount of its 65 employees, and developing four new product categories – including the integration of ... Read more ›
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Apple has acquired London-based fintech Credit Kudos, according to reports. Credit Kudos was reportedly valued at $150m (£114.3m), according to The Block, which first reported the news. Apple is yet to publicly confirm the acquisition and did not return UKTN’s request for comment. However, Credit Kudos updated its website Services Terms of Use on 21 ... Read more ›
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After a series of disagreements and negotiations, ride-sharing service Uber has been granted a new licence to operate in the UK capital by Transport for London (TfL). The new licence will allow Uber to continue operating in London for 30 months, or two and a half years. “We’re delighted to announce TfL has granted Uber ... Read more ›
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Sano Genetics, a startup that has developed a platform to connect patients that have rare, chronic diseases with personalised medicine providers, has raised $11m (£8.4m) in a Series A funding round. Cambridge-based Sano Genetics will use the capital injection to develop its platform to meet demand for over 50 diseases and over 6 countries by ... Read more ›
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JPMorgan’s digital bank Chase has launched a new savings account in the UK as the New York-based firm aims to take on Britain’s challenger and high street banks. Chase is aiming to win over UK customers with a 1.5% interest rate at a time when inflation and the cost of living are reaching all-time highs. ... Read more ›
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Embedded fintech, in which financial institutions integrate fintech services into their platforms, is the financial technology area that should see the most growth in coming years. But to many, it still remains a black box – even though Barclays Rise anticipates that the payments segment revenue of the sector alone is set to grow from ... Read more ›
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The UK’s competition regulator has recommended the establishment of a new entity to have “regulatory oversight” of the open banking industry. The Competition and Markets Authority (CMA) said on Friday that the yet to be named regulatory body will replace the Open Banking Implementation Entity (OBIE). In a joint statement with HM Treasury, the Financial ... Read more ›
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UK energy giant Shell has said it will invest up to £25bn in the UK’s energy systems over the next decade. Shell’s UK country chair David Bunch said: “Today I can announce that Shell UK is planning to invest between £20bn and £25bn into the UK energy system over the next decade.” According to Bunch, ... Read more ›
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Payroll software companies have hit back at Chancellor Rishi Sunak for appearing to blame them for delaying the increase to the National Insurance threshold until July. In the Spring Statement, the government said it could not raise the National Insurance threshold until three months after the start of the new tax year because payroll providers ... Read more ›
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Financial modelling software startup Casual has secured £15m in Series A funding, led by Coatue and Accel. London-based Casual is a collaborative business software platform for financial modelling, self-described as the ‘spreadsheet killer’. Founded in 2019, Casual aims to make financial modelling easier for companies to understand and contribute to. It does so with what ... Read more ›
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London-based sales automation startup Avnio has exited stealth mode with a £3m seed investment led by early stage VC firm Felicis Ventures. Avnio will use the investment, shared exclusively with UKTN, to fuel its expansion to the US and for product development of its sales and marketing software. It is the first external funding for ... Read more ›
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21.06.2026 10:53
Last update: 10:45 EDT.
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