Every Wednesday, we delve into the latest fintech updates from across the UK. This week brings updates from Revolut, CrowdCube and Policy Expert.
Revolut re-releases Poppy card with the Royal British Legion
Revolut has released its Poppy card in partnership with the Royal British Legion and Visa. Revolut’s UK customers will get a second opportunity to receive a card after last year’s initiative raised more than £100,000.
To get a Poppy card, customers must donate at least £5 to the Royal British Legion through the Revolut app. The Royal British Legion receives 100 per cent of the donation.
Adam Gagen, Revolut global head of public affairs, said: “With the help of our customers, we’re proud to continue supporting the work of the Royal British Legion. We know our customers will be delighted by the return of our Poppy Card, enabling them to instantly support the Poppy Appeal through donations.
Ben France, head of corporate partnerships at the Royal British Legion, expanded on the move. He said: “We are continuing to find new and innovative ways to enable people to donate to the Royal British Legion, and our partnership with Revolut and Visa does just that. The money raised by Revolut customers will help us provide life-changing support to members of the armed forces community.
UK startups prioritise green growth
Crowdfunding platform Crowdcube conducted a poll of 51 founders of UK startups and scale-up companies. The results revealed a desire for the government to provide greater incentives for environmentally conscious investment (53 per cent).
For over half of businesses (57 per cent) the renewal of EIS and SEIS schemes beyond 2025 was a top priority. The schemes use tax breaks to incentivise investment into entrepreneurial companies.
Darren Westlake, CEO and co-founder of Crowdcube, analysed the results of the poll. He explained: “What’s clear is that while the short-term bottom-line boosting policies promoted by the previous administration are important, they are far from paramount. Founders would rather see the economy managed in a way that is socially and environmentally sustainable, than run with a flash-in-the-pan, growth-at-all-costs mindset.”
Policy Expert looks to expand tech team
Policy Expert, the UK-based insurtech, plans to expand its technology division by the end of the year. The company plans to add more than 20 new members to its team. The move would take the business to over 640 employees.
The insurtech has almost doubled the size of its technology team in the last two years. The move happens as it plans to improve its position in the home insurance market.
Adam Powell, chief operating officer of Policy Expert, commented: “The potential to deliver better insurance experiences through smarter use of technology and data has been core to Policy Expert’s vision since day one.
“Since then, we’ve grown rapidly from start-up to scale-up and achieved sustained, efficient and profitable growth by building an insurtech company that customers want to stay with for life. These new tech roles will support our ambitions to make a positive difference to millions more households who want affordable and fairly priced insurance they can rely on in times of need.”
NOW Money joins the British Business Group
Dubai-based technology for-good company NOW Money has announced its membership with British Business Group (BBG).
The BBG will work with NOW Money to help the company continue its growth in a fast-changing UAE market. The BBG will also work with founding sponsors including Emirates, Jumeirah Group, Motivate Media and HSBC.
Katy Holmes, general manager from British Business Group, explained what membership for NOW Money means. She said: “We are thrilled to welcome NOW Money as members of the BBG. They will now have access and exposure to an established and diverse British business community across multiple sectors, with opportunities to gain focused, sector-specific, actionable insights through events and increase their local market footprint.”
DKK Partners joins the LCCI
DKK Partners, a foreign exchange (FX) liquidity provider, has joined the London Chamber of Commerce & Industry (LCCI).
The FX liquidity provider will work with LCCI members to provide a range of services. The deal includes FX risk management, access to deep liquidity pools, and local collections for overseas trading.
Khalid Talukder, co-founder of DKK Partners commented on the move. He said: “LCCI is the premier platform for UK businesses to collaborate, share ideas around how to improve commerce and establish trading partners globally.
“Our membership puts us at the heart of [the] UK industry, allowing us to have our fingers on the pulse of the numerous challenges companies face, both locally and internationally. We look forward to working with our fellow members to support their expansion plans.”