Klarna swings to adjusted profit in first half of 2024 ahead of planned listing August 27, 2024 Klarna swung to an adjusted profit in the first half of 2024 as the buy-now pay-later giant makes progress on its bottom line ahead of a planned stock market listing.
Oaknorth: London challenger bank readies for US expansion as New York office authorised August 27, 2024 Oaknorth has received regulatory approval to open a representative office in New York, paving the way for the digital challenger bank to expand further into the US market ahead of a potential stock market listing.
UK economy: ‘No one has any clue what’s going to happen,’ says boss of Britain’s fastest-growing business August 23, 2024 The chief executive of Britain's fastest-growing company has warned that poor access to finance for small firms risks hamstringing the UK's economic growth, as business owners already struggle with "really high uncertainity in the world".
Treasury and FCA worried by payments regulator’s fraud refund scheme August 22, 2024 The government and City watchdog have raised concerns over a fraud refund scheme from the UK payments regulator that firms have warned could do long-lasting damage to the industry, City A.M. understands.
Value of Molten Ventures’ stake in Revolut more than doubles after employee share sale August 21, 2024 Molten Ventures said the value of its stake in Revolut has more than doubled after the British fintech secured a $45bn (£34.9bn) valuation in a share sale by employees.
Klarna swoops in to buy collapsed rival Laybuy August 21, 2024 Buy-now pay-later (BNPL) giant Klarna has snapped up its collapsed rival Laybuy after the Kiwi fintech folded into receivership earlier this year, City A.M. has learned.
Flagstone doubles assets under administration as UK savers chase better rates August 19, 2024 Flagstone has more than doubled its assets under administration in 18 months as the fintech savings platform cashes in on UK savers chasing better interest rates.
Exclusive: Criminals eye windfall from UK regulator’s controversial fraud refund plan August 16, 2024 Criminals are making plans to exploit incoming fraud refund rules from the UK payments regulator, City A.M. has learnt, as banks and fintechs warn of harm to consumers if the measures come into force unaltered.
Revolut achieves $45bn valuation in employee share sale August 16, 2024 Revolut has cemented its position as Europe's most valuable private technology company after securing a $45bn (£34.9bn) valuation in a share sale by employees.
Treasury plans talks with Revolut as fintech giant favours US listing August 16, 2024 The UK government is seeking to highlight London's attractiveness in planned talks with Revolut, as Britain's biggest fintech reportedly favours the US for a potential blockbuster IPO.