Starling Bank has been fined £29m by the UK financial watchdog for failings in its financial sanctions screening system. The Financial Conduct Authority (FCA) said on Wednesday that Starling, worth over $3bn, repeatedly breached a requirement to not open accounts for “high-risk” customers. According to the regulator, Starling’s jump in users from 43,000 in 2017 ... Read more ›
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UK banks have agreed to share “intelligence” with Meta in an effort to combat financial scammers. Meta announced on Wednesday that the Fraud Intelligence Reciprocal Exchange (FIRE), which was launched as a six-month pilot in the Spring, will be expanded. The exchange agreement means participating banks share fraud intelligence with Meta, which uses it to ... Read more ›
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Google could be forced to drop the branding from its ‘YouTube Shorts’ streaming platform after it was accused of “tarnishing” the identity of a smaller rival. In a trial set to begin in the Royal Courts of Justice today, the tech giant is claimed to have damaged the brand of London-based short film distributor Shorts ... Read more ›
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Robotic warehouse startup Dexory has raised $80m (£60m) in a joint equity and debt-based Series B funding round. Founded in 2015, Dexory develops fully autonomous robots capable of analysing and generating operational insights. Dexory’s robots scan fulfilment centres and create digital twins viewable and manageable on the company’s software platform. “We are incredibly excited about ... Read more ›
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A firm insuring the UK’s food delivery riders has axed more than 100 jobs and has exited the B2B market altogether as it set a course to hit profitability in 2025. London-based Zego, which supports Deliveroo, Uber Eats and Just Eat riders, has cut its headcount by 105 since 2022 to 347, its recent accounts ... Read more ›
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Local governments have been left struggling with the procurement of new AI technologies for public service, according to the Ada Lovelace Institute. The independent research organisation said on Tuesday that despite the bullish outlook from central governments past and present on rolling out public sector AI, local authorities have been left behind. According to new ... Read more ›
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This week’s podcast guest is Timo Boldt, founder and CEO of Gousto. Boldt discusses growing his business from a Dragon’s Den pitch to a market leader, how sustainability has always been at the heart of Gousto and the importance of new founders finding good mentors. Gousto is a startup that sends pre-packaged meal kits with ... Read more ›
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Car finance firm Carmoola has added to its debt pile after securing a new £100m loan from high street bank NatWest. The new financing adds to the company’s £31m in loans which were refinanced last year, a £50m senior revolving credit facility with the option to extend it by another £25m, and a further junior ... Read more ›
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The operator of a network of illegal crypto ATMs has pleaded guilty in Westminster Magistrates Court in the first UK conviction of its kind. Olumide Osunkoya is due to be sentenced for five counts of operating ATMs used for buying and selling cryptoassets without registration from the Financial Conduct Authority (FCA). Under British law, ventures ... Read more ›
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London-based investor IW Capital has launched a £30m fund targeting UK-based SMEs following the completion of a management buyout. Founded in 2011, IW Capital has backed around 40 UK startups including peer-to-peer currency swap group WeSwap and health tech company GPDQ. The new fund will focus on businesses with a proven model ready to scale. ... Read more ›
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Bango said it expected to see a surge in the range of subscription services offered by Britain’s biggest banks, as the AIM-listed business posted a jump in half-year revenues. The Cambridge-based firm, which offers subscription bundling services to major telecoms firms, said it saw many banks turning towards offering subscription packages themselves as they look ... Read more ›
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Nesti, a startup using video generation to support sales teams, has secured a £250,000 pre-seed investment. The business was founded in 2024 after hundreds of conversations with sales staff revealed outbound engagement would often increase when video pitches were sent. Nesti is an automated video prospecting tool. With generative AI, the platform replicates sales teams ... Read more ›
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London-listed budget computer maker Raspberry Pi is expanding its artificial intelligence offering with the launch of a new AI camera. The AI camera, launched on Monday, can be used to perform image processing, making it useful for AI solutions requiring visual data. The Cambridge-based hardware firm released an AI kit in June. Until now it ... Read more ›
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In 2020, I made the decision to relocate my tech company from London Bridge to Milton Keynes. It wasn’t an easy choice. We’d always been surrounded by major industry players, endless networking opportunities, and every lunch option imaginable. After being in the heart of it all on Southwark Street, I worried about what we’d miss ... Read more ›
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The UK’s competition regulator has said Amazon’s investment into AI firm Anthropic does not merit further investigation. The Competition and Markets Authority (CMA) said it does not “believe that it is or may be the case that a relevant merger situation has been created” because Anthropic’s UK turnover does not exceed £70 million in the ... Read more ›
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Losses at Delli have widened as the independent food platform sought fresh funding to keep its cash balances in check. The London-based business, co-founded by Depop creator Simon Beckerman, posted a loss of £6.4m in 2023, its latest accounts show, a jump of more than 80% compared to the previous year. The company’s cash balances ... Read more ›
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This week’s UK tech funding deals include genomic synthesis startup Constructive Bio, Bristolian battery tech group Anaphite, ecommerce tool provider Simpler and more. UKTN tracked £146.5m worth of UK tech investment this week (23 September to 27 September), a 176% week-on-week increase across 10 funding rounds. Here’s your weekly roundup of UK tech startup funding ... Read more ›
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A new startup hub in Leeds city centre has been launched following a £20m redevelopment project from Bruntwood SciTech. The West Village in Leeds contains 230,000 sq ft of workspace for startups, with a mix of co-working, serviced and leased spaces. Startup property platform Bruntwood SciTech said three-quarters of West Village has been pre-let already. ... Read more ›
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A Bristol-based startup aimed at making electronic vehicle (EV) batteries cheaper and less energy-intensive has raised £10.4m in a fresh funding round. Founded in 2018 by chemist Sam Burrow, now CTO and physicist Alexander Hewitt, now COO, Anaphite has developed a chemical composting process to dry coat for high-performance electrode production. Anaphite claims with its ... Read more ›
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A London-listed crypto investor has predicted a ‘coming bull market’ as it reported a rise in profits. Phoenix Digital Assets, which invests in large cap liquid cryptocurrencies, sold more than £60m worth of digital assets and tokens in the first six months of the year, investing a further £26 million to arrive at a pre-tax ... Read more ›
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Most popular sources
Business Insider
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20% 12 |
The Verge
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9% 3 |
Tech Wire Asia
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8% 1 |
Tom's Hardware
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8% 5 |
Gizmodo
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8% 3 |
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27.11.2024 07:23
Last update: 07:16 EDT.
News rating updated: 14:11.
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