2019-established Bank of London resolves tax petition, raises £50M, aims to expand operations.

The Bank of London, established in 2019, has resolved a winding-up petition from UK tax authorities after addressing unpaid taxes attributed to administrative errors. The bank is raising up to £50 million in new funding, supported by Aphorism Holding, to strengthen its operations. Despite challenges, including the resignation of its CEO, the bank claims to have secured 4,500 clients and aims to enhance domestic and cross-border payment processes.

September 07, 2024
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