London fintech news site AltFi shuts for business

London-based fintech news website AltFi has shut for business, the company announced today.

In a statement posted to it website, the firm said: "We deeply regret to inform you that after 10 years of operation, we are closing the AltFi business.

"Whilst our purpose, journalism and brand following has never been in doubt, we have faced severe headwinds over the last 18 months.

"We have thoroughly enjoyed playing our part in supporting the growth success story that has been UK fintech. We have met so many fantastic people and businesses, as you would expect, having covered the lifespan of so many challengers to incumbents through this time."

AltFi was set up in 2013 by finance journalist David Stevenson, a columnist at the Financial Times and had been run by editor Daniel Lanyon for the past eight years. It organised a series of corporate events for the London fintech industry, including the Festival Of Finance, AltFi Lending Summit, AltFi Awards and Money Talks webinars.

The firm listed 15 members of staff on its website. Its parent company, ETF Stream, posted a loss of £2.6 million in 2022 and took out a £200,000 loan in May 2023 in a bid to stay afloat.

"Whether you were a reader, attendee, client or supplier, we thank you for making the AltFi community so special," the firm said today.