Danish fintech platform Pleo raises $150M in latest funding round, valued at $1.7 billion

On Tuesday, Pleo, a Danish fintech platform which offers expense management tool and smart company cards, said it had raised $150 million from U.S. investment firms Bain Capital Ventures and Thrive Capital in its latest funding round which valued it around $1.7 billion. The company has more than 17,000 customers across Denmark, Sweden, Germany, the…

UK unveils draft Online Safety Bill aimed at imposing sense of responsibility on social media companies

On Wednesday, in a significant development Britain said, it plans on unveil a new law which will fine social media companies up to 10% of their global turnover of 18 million pounds ($25 million), if they fail to remove online abuses such as racist hate crimes; the law will also see senior managers face criminal…

One idiot moment can impact decades of due diligence

British Prime Minister Boris Johnson is scheduled to meet senior ministers on Tuesday to decide on whether the UK will allow China’s Huawei to participate in building the country’s critical 5G mobile infrastructure. The United States views Huawei as a company of particular concern and it sees Huawei’s participation in building a critical infrastructure as…

London-based banks made reasonable progress on their relocation to the Eurozone

This conclusion was made by Sabine Lautenschlaeger, director at the European Central Bank, to an audience in Sydney. On Wednesday, Sabine Lautenschlaeger, European Central Bank director stated, the majority of London-based banks relocating to the Eurozone due to Brexit, have made “reasonable progress” in preparing the move. “We have urged and pushed them (banks) to…