UK digital finance firms face fundraising challenges due to higher interest rates and investor caution after the Silicon Valley Bank collapse. The Bank of England raised rates 11 times since Dec 2021 to curb inflation, impacting funding costs. Monzo CEO TS Anil, speaking at Innovate Finance conference, noted that last month’s banking sector turmoil may trigger a broad shake-up in the digital finance industry.
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Summary
Article Name
UK Digital Finance Firms Under Pressure Post-Banking Turmoil
Description
UK digital finance firms face fundraising challenges due to higher interest rates and investor caution after the Silicon Valley Bank collapse.
Author
Susan Jane
Publisher Name
Reuters
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