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NatWest in talks to take stake in fintech start-up Bourn - report
(Sharecast News) - NatWest Group is reportedly taking a stake in London-based fintech Bourn, which helps provide smaller businesses with immediate access to flexible secured funding. According to Sky News, NatWest is acquiring a minority shareholding in Bourn, which was founded last year to help SMEs address common cashflow challenges.
Sky said that while tiny in financial terms, NatWest's investment in the start-up will underline the attempt being made under the bank's chief executive, Paul Thwaite, to accelerate product and service innovation across its core customer bases.
Last week, Sky reported that pensions giant WTW was in talks to buy Cushon, the workplace retirement schemes platform owned by NatWest.
NatWest's stake in Bourn forms part of a £3.5m funding round to be announced on Tuesday by the start-up, Sky said.
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