FinTech Times

This Week in Fintech: The FTT Bi-Weekly News Roundup

Publication: FinTech Times
20th August 2020


Business development & investments

Hub71, a tech ecosystem launched in Abu Dhabi to promote innovation and support the growth oftransformational tech startups, has chosen 11 emergent companies to join its latest cohort to receive non-equity subsidies. They will enjoy 100 per cent free housing, office space and health insurance for two years for seed companies and 50 per cent subsidises for three years.

Six fintech firms serving the UK's small and medium sized businesses have scooped £20million in funding from theBanking Competition Remediesboard.Funding XchangeandOnfidohave picked up £5million in grants, whileCodat, ezbob, Fractal LabsandPreviseget £2.5million each. Banking Competition Remedies was set up by the UK government to distribute £775million of money from Royal Bank of Scotland following its state bailout in 2008.