Today: Jun 23, 2024

AltFi: Fintech Publication Calls it Quits

1 min read

TLDR: UK-based fintech publication, AltFi, has announced that it will be shutting down. The publication, which has been running for 10 years, gained a reputation for its coverage of the UK fintech market and annual events. While the post on AltFi’s home page did not provide specific details about the reasons for the closure, it stated that the company had faced “severe headwinds in the last 18 months”. AltFi raised funding through a crowdfunding campaign in 2016 and was acquired by ETF Systems in 2019. It is unclear whether the previously scheduled AltFi Festival of Finance 2024 will take place.

AltFi, a UK-based digital news publication focused on financial technology, has announced that it will be shutting down after 10 years in operation. The publication gained a reputation for its coverage of the UK fintech market and its annual events. AltFi expanded its events to the US at one point, catering to the growing interest in fintech worldwide. The decision to shut down was likely driven by financial difficulties, as AltFi mentioned “severe headwinds in the last 18 months” in its farewell post on its website.

AltFi expressed its gratitude to its readers, attendees, clients, and suppliers for their support over the years, highlighting the strong community that had been established around the publication. The post also thanked the staff for their passion and commitment, acknowledging their role in the publication’s journey. Charlotte Croswell OBE, a well-known figure in the UK fintech industry, expressed her sadness at the publication’s closure and praised AltFi for its dedication to in-depth coverage of the fintech sector.

In 2016, AltFi raised funding through a crowdfunded offering on Crowdcube, selling a 7.69% equity stake in the firm for £250,000. The publication was later acquired by ETF Systems in 2019 for an undisclosed amount. It is not clear if the previously scheduled AltFi Festival of Finance 2024, an annual event organized by the publication, will take place in May as planned.