Over 4,800 UK jobs have been created by the introduction of open banking in the UK, an industry now worth more than £4.1bn to the economy, yet the sector now sits at a “vital crossroads” in its development.
eToro has scrapped its plans to go public and raised $250m at a $3.5bn valuation two years after announcing it was due to list through a $10bn SPAC,
ClearBank is helping to actively recruit more female coders by partnering with Code First Girls. The cloud-based banking platform joins 30 other fintechs and financial services groups, including Zopa, Starling Bank, Lloyds Banking Group and NatWest, in working with Code First Girls to diversify the tech workforce.
Stripe, one of the largest global fintech companies, has raised a huge funding round of $6.5bn. Stripe is quick to point out “does not need this capital to run its business,” according to a press statement. Rather, it says, the business will use the mammoth funds to simplify some budding issues with employee equity packages.