BCR: Grants £40m funding to Four fintechs

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BCR: Grants £40m funding to Four fintechs

Board of Banking Competition Remedies (BCR) : Grants four £10m to Atom Bank, iwoca, Modulr and Currencycloud

  • As part of the Capability and Innovation Fund (CIF) Pool C grant process, they get all benefit from a multi-million cash injection
  • The grant will help with expanding iwoca’s customer base and making £5 billion available to support Britain’s SMEs
  • It also launch a customisable self-serve “plug & play” platform for SME fintech partners
  • Modulr, Atom Bank and iwoca all committed to creating new jobs across the UK
  • Currencycloud helps 10% of UK SMEs, who are trading internationally to access better cross-border experiences
  • They also investing £30 million more of its own funds into helping SMEs more generally