A subsidiary of UK fintech Wise has been fined $360,000 (£309,000) over an anti-money laundering breach in the United Arab Emirates. Abu Dhabi’s financial regulator said that Wise Nuqud “did not establish and maintain adequate systems and controls to ensure full compliance” with the country’s anti-money laundering rules. Wise Nuqud is a wholly owned subsidiary ... Read more ›
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The UK government needs to “break the chains” of financial regulation holding back growth at neobanks, according to MPs. A new report from an all-party parliamentary group said the “one-size-fits-all” approach to banking regulation was slowing down the growth of neobanks, which are seen by the group as key for the future of the UK ... Read more ›
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London-based Claret Capital has launched a €297m (£255m) debt fund to invest in European technology and life science businesses. The Claret European Growth Capital Fund III, which surpassed its initial target of €250m, will offer loan facilities up to €50m (£42.9m). “From enterprise software to fintech startups to marketplaces – we look forward to partnering with leadership ... Read more ›
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Britishvolt is delaying production at its electric car battery plant in Northumberland by six months until 2025. Production of battery cells at the Northumberland ‘gigaplant’ had been due to start by the end of 2023 before being pushed back to the end of 2024. But now production plans have been rescheduled to mid-2025 due to ... Read more ›
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Bristol-based cybersecurity startup Immersive Labs has cut 10% of jobs globally, citing a focus on becoming “cashflow breakeven” amid the market downturn. Immersive Labs said the layoffs, which amount to 38 individuals, would help it concentrate on “high-growth opportunities in proven markets”. “This was a very difficult decision, and one we made only after an ... Read more ›
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London-based Evorra has raised a further $1m (£852,000) in pre-seed funding from Boston-based York IE for its audience data marketplace. Evorra’s software as a service platform provides advertising data to agencies and brands looking to create audiences for marketing purposes. It pulls its data from partnerships with the likes of Amazon, Meta and IPONWEB and ... Read more ›
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London-based medtech startup Neurofenix has raised $7m (£5.9m) in Series A funding led by AlbionVC for US expansion, hiring and clinical trials. Neurofenix combines a telemedicine platform with its sensor-based Neuroball device to offer personalised rehabilitation for people that have been affected by stroke, traumatic brain injury and spinal cord injury. Patients use the Neuroball ... Read more ›
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Asset manager Jupiter is reportedly in talks to sell its entire stake – valued at more than £200m – in British challenger bank Starling. Jupiter Fund Management owns a near-10% stake in Starling Bank, which has a private valuation of more than £2.5bn following its previous fundraise in April. According to Sky News, Jupiter has ... Read more ›
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Oxford-headquartered startup Oxwash has received £10m in Series A funding for its on-demand laundry service that uses chemical-free wet cleaning inspired by technology used in space. Former NASA scientist Dr Kyle Grant founded Oxwash with Tom de Wilton in 2017 after becoming fed up with “unreliable” washing machines on the University of Oxford’s campus. The ... Read more ›
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British Business Bank, through its ENABLE funding programme, has given asset finance provider Propel a £165m funding facility to offer capital to small UK businesses. Propel will receive a further £275m private securitisation from Citibank and a £35 million mezzanine working capital facility given by Quilam Capital. Mark Catton, CEO, Propel said: “We are thrilled ... Read more ›
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California-based cloud software subscription provider Zuora has announced plans to acquire London-based digital subscription management provider Zephr for $44m (£37.1m). Zuora provides digital monetisation tools to companies, including premium subscription services for news media. Zuora’s customers include Bloomberg, Guardian News & Media, Penske Media, and DAZN. The US firm is looking to integrate Zephr’s suite ... Read more ›
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Bristol-based Anaphite has secured £4.1m in seed funding to use graphene in lithium-ion batteries for electric vehicles (EVs). Graphene is stronger than steel, it also is a conductor of electricity and heat. It has the potential to take the place of silicon inside electronics. “I truly believe we are in a great position to have ... Read more ›
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UK tech could lose another London-listed firm to a foreign acquisition as Canadian software company OpenText is planning to acquire Berkshire’s Micro Focus, in a $6bn (£5bn) deal. The buyout is expected to be completed in the first quarter of 2023. Shares in Micro Focus jumped 92% following the takeover announcement, jumping from 247p to ... Read more ›
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Jack Williams is the CEO and co-founder of Selazar, a Belfast-based ecommerce fulfilment company. Founded in 2016, Selazar’s cloud-based supply chain software connects retailers, manufacturers, fulfilment companies and couriers. It raised £20m in November 2021 – the largest ever tech investment in a Northern Ireland company – to fund its UK, European and North American ... Read more ›
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Commercial property company Bruntwood SciTech is doubling down on its Glasgow investment with the development of a £30m working space that will provide an additional 100,000 sq ft for science and tech workers in the Scottish city. The new building will be net-zero carbon while in operation and sit adjacent to the 14-story, Grade B ... Read more ›
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Steven Bartlett’s web3 application startup Thirdweb has raised $24m (£20.3m) in Series A funding, with investment coming from the likes of Coinbase Ventures and Shopify. Bartlett is known for his Diary of a CEO podcast and for appearing as an investor in the BBC show Dragons’ Den. Thirweb’s platform provides tools for developers to build ... Read more ›
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French tech giant Schneider Electric is considering a full takeover of Cambridge-based software company Aveva, in what would be another blow to UK tech and London’s public markets. Paris-based Schneider Electric is already the majority shareholder in Aveva, with a 59% stake in the company. However, it is now considering a complete acquisition of the ... Read more ›
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The first investment from Octopus Energy’s new Development Partnership (OEDP) fund has gone to battery developer and solar power company Exagen. Octopus Energy Group has bought a 24% in the sustainable energy company, valued at up to £35m, according to Exagen’s website. Exagen said it will use the cash injection to accelerate the development of ... Read more ›
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Pre-pandemic, the semiconductor industry was a largely unknown entity to the average person. In 2021, however, consumers started to ask questions as to why the price of second-hand cars was rocketing, and why it was becoming so challenging to get their hands on the latest PlayStation. Whilst they vary in complexity and sophistication, what has ... Read more ›
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Multinational investment bank JP Morgan and investment manager Triple Point have granted business credit card provider Capital on Tap a £200m funding facility to provide small UK businesses with access to credit. “Their willingness to support our mission of ‘Making the Lives of Small Businesses Easier’ not only recognises the importance of this mission but ... Read more ›
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16.06.2026 12:09
Last update: 12:01 EDT.
News rating updated: 19:04.
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