startup | Common News Update

Apr42021 by adminNo Comments

Former banking lobby chief Jones joins shared branches start-up OneBanks

Business

The former boss of Britain’s most influential financial lobbying group is throwing his weight behind the trial of a service that it wants to become a national solution to the disappearance of thousands of bank branches across Britain.Sky News has learnt that Stephen Jones, who ran UK Finance until last year, has joined OneBanks as its vice-chairman. The start-up, which is piloting a shared branch kiosk in a Co-op store Denny, near Falkirk, Scotland, plans to raise millions of pounds in a Series-A fundraising during the summer, according to insiders.It has already secured capital from backers including Rupert Pennant-Rea, former deputy governor of the Bank of England, and Baroness Bottomley, the former Conservative cabinet minister.OneBanks has been set up to provide an answer to one of the...

Jan192021 by adminNo Comments

Silicon Valley start-up Plaid plans European hiring spree despite Visa deal falling apart

Finance

Zach Perret, CEO and co-founder of Plaid, speaks during the Silicon Slopes Tech Summit in Salt Lake City, Utah, U.S., on Jan. 31, 2020.George Frey | Bloomberg via Getty ImagesLONDON — Financial technology start-up Plaid plans to more than double its European workforce this year, even after scrapping a deal to be acquired by Visa amid U.S. antitrust concerns.The company looks to be taking news of the $ 5.3 billion merger agreement falling apart in its stride, hoping to capitalize on a shift toward online banking services in the wake of the coronavirus pandemic.Plaid's software connects some of the most popular fintech apps in the U.S. — such as Venmo, Robinhood and Coinbase — with a user's bank account. It's part of an emerging trend in finance known as "open banking" that calls on lenders...

Feb282020 by adminNo Comments

Sanders proposal to raise these taxes could hit start-up workers

Finance

Democratic presidential hopeful Vermont Senator Bernie Sanders participates in the tenth Democratic primary debate of the 2020 presidential campaign season co-hosted by CBS News and the Congressional Black Caucus Institute at the Gaillard Center in Charleston, South Carolina, on February 25, 2020.Jim Watson | AFP | Getty ImagesA bill introduced by Sen. Bernie Sanders, I-Vt., that would raise taxes on executive retirement plans could hit an unintended target: employees at start-ups.The presidential candidate, along with Sen. Chris Van Hollen, D-Md., proposed the CEO and Worker Pension Act on Thursday.While the bill likely won't go too far amid a divided Congress, it offers a clue into Sanders' thinking as he campaigns for office.The legislation takes aim at so-called nonqualified deferred c...

Feb72020 by adminNo Comments

OneWeb: London start-up launches first big batch of satellites

Science

The UK-based OneWeb company has sent 34 satellites into orbit on a single Soyuz rocket from Baikonur in Kazakhstan.The start-up is building a mega-constellation in the sky to deliver broadband internet to all corners of the globe.Six spacecraft were lofted in 2019 to prove the technology, but this year will see big batches of platforms going up on a near monthly basis.The aim is to have the full network in operation by the end of 2021. OneWeb is in a race with a number of other companies that want to provide the same kind of service. California entrepreneur Elon Musk is developing his Starlink constellation which envisages thousands ...

Dec242019 by adminNo Comments

Microsoft arm backs ‘kidtech’ start-up SuperAwesome

Business

The venture capital arm of Microsoft, the American technology behemoth, is to buy a stake in a six-year-old British company which produces software to protect children online.Sky News has learnt that M12 - which was previously called Microsoft Ventures - is close to striking a deal to become a shareholder in SuperAwesome. The transaction, which is expected to be confirmed next month, will represent a big milestone for SuperAwesome.Set up in 2013 by Dylan Collins, the company has attracted business from some of the world's biggest advertisers to children amid increasingly strict regulation.Multinationals including Kellogg's, Mattel, Nintendo and Unilever are among the brands listed on SuperAwesome's website as clients of the British start-up. ...