The AI startup sector has secured an unprecedented $10.4 billion in funding within the first quarter of 2025. Despite challenges such as U.S. restrictions on AI chip exports to China, volatile tech valuations, and underwhelming earnings from AI giants in early 2024, investor confidence remains strong. Last year marked a historic milestone, with AI startups raising a record-breaking $89.7 billion in total funding. That momentum has carried into 2025, with venture capitalists fueling what is shaping up to be the sector’s strongest year yet. Funding Hits One-Third of 2022 and 2023’s Total in Just 45 Days Since the Nvidia-led AI…
Author: News Team
In a bid to lower emissions and cut energy costs, county councils across England are overhauling their street lighting systems, replacing outdated halogen and fluorescent bulbs with energy-efficient LED technology. But which councils are leading the charge, and how much is being spent? New research from The Lighting Superstore reveals that English county councils have collectively allocated or spent approximately £418 million (£417,859,699.48) on LED streetlight conversion projects. According to data obtained through a Freedom of Information (FOI) request, one of the earliest initiatives was launched in 2009 by Lancashire County Council. However, as of today, only nine of these…
The findings, from the Armstrong Watson January 2025 Client Business Confidence Survey, show that almost 90% of respondents believe the changes introduced in the 2024 Autumn Budget will have a negative impact on their operations. While there was a slight glimmer of hope this week, with official figures indicating a 0.1% GDP growth in the last quarter of 2024, the overall mood among businesses remains bleak. The survey points to a significant decline in confidence, with many businesses worried about the long-term implications of the current economic environment. This follows the release of the Institute of Chartered Accountants in England…
Following the Bank of England’s decision to lower the base rate to 4.5%, Federation of Small Businesses (FSB) Chair Martin McTague has urged lenders to pass on the benefits to borrowers without delay. “This rate cut needs to translate into immediate relief for small firms, allowing them to shift focus from survival to growth and long-term planning,” said McTague. He emphasized that with inflation now at manageable levels, high interest rates have been a major barrier to economic expansion. A sustained reduction in rates would provide much-needed support to small businesses and increase access to finance and lowering borrowing costs.…
Grant Thornton UK LLP has announced a groundbreaking £1 million investment in a transformative business programme, in partnership with Data Literacy Academy. This initiative is designed to equip employees with the tools to adopt a forward-thinking, data-driven digital mindset. Unlike traditional data training, which focuses mainly on data analysis skills, the programme aims to empower individuals to tackle challenges and seize opportunities through innovative, digital solutions. Understanding that true digital transformation extends beyond technology to include cultural and operational shifts, Grant Thornton’s programme places emphasis on cultivating the right mindset to drive innovation and sustainable growth. The “3D” Data-Driven Digital…
Maslow Capital, a leading real estate finance provider, has successfully finalized a £55 million development finance deal to fund the second phase of Heaton Group’s prestigious Berkeley Square development in Salford, Greater Manchester. This latest investment follows Maslow’s initial £45 million commitment for Phase One, reinforcing its ongoing support for high-quality living sector projects led by top developers. Located on Ordsall Lane, Berkeley Square is a luxury residential development strategically positioned between Manchester city center and MediaCityUK. The project, which consists of 500 residential units in total, will see the completion of Phase Two with 250 new apartments, offering a…
Maslow Capital has successfully completed an £18 million development finance facility to support Citu, a pioneering developer known for delivering sustainable, high-quality residential schemes across Yorkshire. The funding will enable the completion of District Lofts, an 87-unit residential development within Leeds’ Climate Innovation District, one of the UK’s most ambitious low-carbon regeneration projects. Located along the River Aire in South Bank, the Climate Innovation District combines urban convenience with peaceful riverside living, creating a vibrant new neighborhood just 10 minutes from Leeds city center. The scheme will comprise a mix of one, two, and three-bedroom apartments, including seven affordable units,…
A recent study by Charles Stanley Direct reveals that nearly a third (30%) of DIY investors are considering salary sacrifice to help increase their savings and mitigate the impact of National Insurance Contributions (NIC) hikes. This follows the Autumn Budget’s announcement that employers will be required to raise NIC from 13.8% to 15% starting in April 2025. Currently, 29% of individuals are already participating in salary sacrifice schemes through their employers. However, 15% of respondents say their employers do not offer this option. Of those who already use or plan to use salary sacrifice, over half (51%) intend to boost…
Property finance lender MSP Capital stepped up to support Forest Holme Hospice’s Strictly Extravaganza, a dazzling ballroom dance competition that has raised over £80,000 for palliative care in Dorset. As the reception drinks sponsor, MSP Capital played a key role in the charity event held at the Lighthouse Poole arts centre, where a sold-out audience of 350 enjoyed an evening of glamour and entertainment. The event featured ten participants, selected from a public call for entries, who trained for months with professional dancers before taking the stage in front of an enthusiastic crowd. The competition’s success not only showcased impressive…
WiseAlpha, a trailblazer in Fractional Corporate Bonds, has launched the UK’s inaugural High-Yield Corporate Bond Innovative Finance ISA (IF ISA). This revolutionary offering grants retail investors access to the corporate bond market through an ISA for the first time. Traditionally, corporate bonds have been out of reach for retail investors due to steep minimum trade sizes of £100,000. WiseAlpha’s new platform eliminates this barrier, allowing investors to build diversified portfolios of corporate bonds within a tax-efficient ISA framework. This marks a significant advancement in making corporate bonds accessible to a broader audience. With Sterling corporate bonds offering returns of 5%…
President Donald Trump’s declaration of a national energy emergency is set to reshape global markets and present new opportunities for investors, according to Nigel Green, CEO of deVere Group, a leading financial advisory organization. The administration’s strategy centers on boosting domestic energy production, particularly in Alaska, and rolling back regulations like the “electric vehicle mandate.” Announced on his first day back in office, Trump’s “Drill baby, drill” agenda underscores a renewed push for U.S. energy independence. The initiative aims to unlock Alaska’s vast untapped resources, drive oil and gas production, and stabilize energy costs. Lower energy prices are expected to…
Paysend, the UK-based global payments platform, has achieved a major milestone, reaching 10 million consumer customers worldwide. This accomplishment highlights Paysend’s impressive growth and strengthens its position in the rapidly expanding cross-border payments market, expected to hit USD$ 60 trillion by 2030. Starting as a visionary startup, Paysend has become the world’s largest digital payment network, dedicated to providing simple, reliable money transfer solutions across the globe. Certified by Mastercard, Visa, and China UnionPay, Paysend is renowned for its focus on transparency and accessibility. Its advanced payment infrastructure enables seamless transfers to cards, wallets, and bank accounts in over 170…
In a notable display of market leadership, UK-based international payments specialist Privalgo expanded its operations in 2024, processing payments to 95 countries and recording a 68% year-over-year increase in payment volume. This growth significantly outpaces the overall UK FX industry’s 14% rise, underlining the increasing demand for Privalgo’s efficient cross-border foreign exchange and payment solutions. As businesses plan their financial goals for 2025, Privalgo is enhancing its market position by investing in next-generation payment technology, a timely innovation amid the UK financial sector’s growing adoption of real-time payments. CEO of Privalgo, Dan Biggs, commented, “This significant growth in payment volumes…
In the UK, the number of ecommerce businesses has reached an all-time high of 166,052, with 56,616 new startups created in 2024 alone. This surge highlights the sector’s ongoing vibrancy, making ecommerce the most common business type registered this year. With ecommerce now representing 30% of retail sales—its highest share since the pandemic’s peak—the future of the sector looks positive. However, there are some signs of concern. Although new ecommerce businesses continue to be established, growth has slowed compared to 2023, when over 67,000 new businesses were created. While this is often a natural progression in emerging industries, it’s a…
Global digital asset banking group Sygnum has successfully raised USD 58 million in its oversubscribed Strategic Growth Round, pushing its post-money valuation above USD 1 billion. The final close saw Fulgur Ventures, a Bitcoin-focused venture capital firm, as the cornerstone investor, alongside both new and existing strategic and financial investors. Sygnum’s team members also participated on equal terms. With over USD 5 billion in total client assets, Sygnum’s robust balance sheet and CET1 capital will support its future growth. The proceeds from the funding will be used to drive Sygnum’s market expansion into multiple regions, enhance its product portfolio with…
The UK’s economic turbulence has reached a critical point, with financial markets fearing a crisis reminiscent of the 1976 IMF bailout. Nigel Green, CEO of deVere Group—one of the largest independent financial advisory firms—issued this warning as 10-year government bond yields surged by 14 basis points to 4.82%, the highest since August 2008. Simultaneously, the pound weakened against all major currencies, dropping over 1% against the dollar, while UK stocks suffered notable declines. “Bond yields are soaring, the pound is in freefall, and Chancellor Rachel Reeves’ financial strategy is under intense scrutiny. Investors must act quickly to avoid being caught…
Swifin, in collaboration with Reltime, is launching a groundbreaking Web3 financial platform powered by an advanced Layer 1 blockchain and an all-in-one Web3 SuperApp. This innovative platform enables instant transactions and seamless currency exchanges across borders, supporting all 54 African currencies as well as major global currencies. Designed to connect individuals, businesses, and nations, the platform offers users a unique digital identity and exchange framework, providing real-time access to a global economy where value can be transferred instantly, anytime, anywhere. Leveraging Reltime’s award-winning Layer 1 blockchain and AI-powered platform, Swifin will transition nearly 2 million users to the new system…
Funding Xchange (FXE), a leading provider of assisted lending and portfolio monitoring solutions, has appointed Paul Gordon as new Non-Executive Chair to guide the Group through its next growth phase. This builds on the successful delivery of SME lending technology to major financial institutions like Barclays, Shawbrook, and Monzo, enhancing access to suitable lending options while lowering service costs. The appointment follows the completion of FXE’s Series B funding round in 2024, led by Barclays. The focus will be on leveraging banks’ drive to transform commercial lending through advanced decision-making technology that enables faster, more efficient credit assessments. The new…
Supermarkets top the list of most desirable high street establishments among UK adults, according to a recent survey by Market Financial Solutions. The specialist lender conducted an independent survey of 2,000 UK adults, revealing that a vibrant local high street is a key factor for 51% of people when choosing where to live. Additionally, 28% of respondents would be willing to pay a premium for properties located near a bustling high street. When asked what makes a great local high street, supermarkets emerged as the most popular choice, with 91% of participants considering them either ‘essential’ or ‘important.’ Healthcare establishments…
Shopping locally not only fills your bags but also strengthens the UK economy. Small and micro businesses contribute a significant 25% of the nation’s GDP, and artisan markets play a key role in this by offering entrepreneurs and micro-businesses a platform to sell their goods and refine their skills. At the heart of this movement is Pedddle, the UK’s leading artisan market directory. Pedddle.com doesn’t just connect consumers with local markets; it also provides valuable services to small businesses. Through subscription options, Pedddle supports makers and stallholders with marketing, streamlining business processes, and enhancing their overall operations. Artisan markets, powered…
BridgerPay, a trusted global payments operations platform, has introduced Hands In’s split payments feature as part of its payment optimisation services. This addition enables their wide network of merchants to split payments across multiple cards and individuals directly within online checkouts. Multi Card payments With the new Multi Card payments option, BridgerPay merchants can allow customers to divide their payment across two or more cards, eliminating credit limit restrictions and increasing the likelihood of successful transactions. Customers can select this option during checkout or use it as a cart recovery feature. By offering split payment options, merchants can improve their…
A new survey of professionals working in UK financial services businesses has identified the key investment areas for attracting, retaining, and developing top talent within the sector. The research, conducted by Davies, a leading specialist in professional services and technology for insurance and highly regulated markets, found that while 70% of respondents believe their organizations foster a positive and supportive culture, 63% felt that additional efforts are needed to attract younger people to the financial services industry. Furthermore, the survey highlighted the biggest challenge in attracting top talent: meeting or exceeding salary expectations. Forty-three percent of senior leaders cited competitive…
Bergos, the independent Swiss private bank, is excited to announce its partnership with Sygnum Bank, a leading global digital asset banking group. This collaboration enables Bergos’ clients to access regulated trading and secure custody of cryptocurrencies seamlessly. Following a successful test phase, the range of tradable cryptocurrencies has been significantly expanded. With integration into Sygnum’s B2B platform—used by over 20 B2B partners worldwide and serving a third of the Swiss population—clients can enjoy easy access to digital assets through Bergos’ familiar banking environment. This partnership ensures cost-effective, innovative, and secure solutions for trading and storing cryptocurrencies. “The demand for digital…
A recent survey by Butterfield Mortgages Limited (BML) highlights that UK buy-to-let (BTL) landlords prioritize brokers’ expertise in tax and regulatory matters, underscoring the importance of informed and knowledgeable guidance in the mortgage process. The London-based mortgage provider conducted an independent survey of 501 UK landlords with BTL mortgages. Respondents who had used a broker for their latest BTL mortgage were asked to identify up to three qualities they value most in a broker. The findings revealed that 38% of landlords consider tax and regulatory expertise the most important broker quality. This was followed by access to a broad range…
Davies, a leader in professional services and technology for insurance and regulated markets, has unveiled its second annual Responsible Business Report, showcasing significant advancements in its People, Planet, Purpose ESG strategy over the past year. At today’s London launch event, Global Responsible Business Officer Gillie Fairbrother highlighted the firm’s investments and achievements during the last 12 months. “As our business grows, entering new geographies around the world, so does our responsibility to limit our environmental impact. This year, we’ve increased investment to reflect our growing global footprint and to support our clients’ ambitious sustainability goals. This includes the hiring our…
Dubbed “Five-Week Fraud” this time frame—from Black Friday through Cyber Monday, Christmas, Boxing Day, and New Year’s Day—sees a surge in transactions, heightened party activity, and an increase in criminal activity. Alina Timofeeva, a Technology and AI advisor with experience advising clients such as NatWest, Lloyds Bank, HSBC, JP Morgan, and Credit Suisse, has issued a stark warning to the public about leading fraudulent scams expected during the heightened shopping and festive period. Timofeeva, a multi-award-winning expert with a background at KPMG, Accenture, and PwC, urges the public to remain vigilant and elevate their alert levels during this high-risk period.…
Vistry Group, the UK’s largest housebuilder, is constructing 430 homes as part of a new neighbourhood off Nash Road In Margate. This includes 140 homes under its Linden Homes brand at Westwood Point and 290 homes under its Bovis Homes brand at Artemis View. As part of the planning agreement, 124 homes are allocated as affordable housing, available to local people through low-cost rent or shared ownership schemes. Additionally, 105 market-rate homes across the two developments are offered as shared ownership properties through a collaboration between Vistry and Sage Homes, further enhancing accessibility to homeownership in the area. There’s currently…
tell.money, a leading provider of open banking solutions, announced its appointment as the official open banking gateway provider for Monese, the award-winning mobile money app. This strategic partnership came at a pivotal moment as embedded finance solutions were experiencing rapid growth across the UK and EU markets. The collaboration represents a significant milestone in tell.money’s mission to streamline open banking integration for Third Party Providers (TPPs) while broadening its European footprint. As part of the partnership, tell.money will offer comprehensive EU coverage for TPPs, along with enhanced support features, including a dedicated sandbox environment for testing and implementation. tell.money Co-Founder…
Hope Macy, a Payments Institution and Credit Reference Agency regulated by the FCA, has revealed its strategic acquisition of Slick Solutions. This collaboration aims to provide more inclusive and efficient financial services to underserved populations, ultimately promoting economic empowerment and stability. By leveraging the strengths of both technologies, this partnership sets a new standard for responsible and innovative lending practices in the industry. Low-income and vulnerable consumers will have access to transparent and equitable financial services that satisfy their needs thanks to the combination of these two cutting-edge technologies. In addition to streamlining the lending process, this integration guarantees that…
As AI adoption accelerates across enterprises, rushed implementations risk bias, opaque decision-making, and unpredictable behavior. Calvin Risk, a Swiss startup originating from ETH Zurich, has secured $4 million in seed funding to help businesses manage these challenges. Through automated testing and quantitative risk assessment, Calvin Risk ensures safe AI deployment. The round, led by Join Capital and seed + speed Ventures, brings the company’s total funding to over $5 million since its 2022 launch. AI models often function as “black boxes”, making it difficult to understand how decisions are made or whether underlying biases are influencing outcomes. For companies, this…
Chetwood Financial Limited, trading as Chetwood Bank, has appointed Philip Jenks as a non-executive director (NED). Jenks brings over 50 years of leadership experience in the financial services industry to the digital-first bank. Founded in 2016, Chetwood Bank focuses on providing straightforward, effective financial products. Recently, the bank introduced an easy access savings account, complementing its existing savings brand, SmartSave, and its specialist buy-to-let mortgage offerings through ModaMortgages and CHL Mortgages. Jenks is a vastly experienced chairman and NED and has demonstrated strong skills across banking, credit risk, technology and management during a long and successful career in financial services.…
Senior leaders from prominent public and private organizations have urged the Government to explore strategies that attract investment and maximize the UK’s potential, in anticipation of the upcoming Budget. During a discussion on “Pre-Budget Requests and Sentiments” on the UK Cities & Partners Investment Pavilion Stage at EXPO REAL 2024—Europe’s premier event for inward investment—business and trade experts shared their views ahead of the Government’s upcoming Budget announcement to Parliament on October 30. UKCAP, a collaborative mission aligned with the Government’s goal to boost economic growth, highlighted investment opportunities exceeding £100 billion in its Investment Prospectus. Delegates presented clear recommendations…
In honor of the 9th anniversary of the United Nations Sustainable Development Goals (SDGs), ten European Country Networks of the UN Global Compact today revealed the findings of their collaborative effort, the “European Private Sector SDG Stocktake.” This initiative assesses the European private sector’s contribution to the SDGs. The 2024 study draws on aggregated data from companies across ten European nations where the UN Global Compact operates: France, Spain, the United Kingdom, Italy, Switzerland/Liechtenstein, Greece, Ireland, Bulgaria, Serbia, and Turkey. Conducted in partnership with PwC France and Maghreb, the study evaluates key aspects of sustainability, including knowledge levels, preferred focus…
Paynetics, a leading embedded finance service provider, has announced a strategic partnership with tell.money to implement the Confirmation of Payee (CoP) service. This collaboration will allow Paynetics to leverage tell.money’s CoP solution, enabling their partners to integrate financial services seamlessly while ensuring full CoP compliance with minimal effort. tell.money provides an easy-to-use, integrated platform for partners to comply with CoP regulations, offering comprehensive guidelines and testing tools to ensure compliance. The partnership enhances fraud detection capabilities, ensuring secure and reliable transactions with minimal complexity. Paynetics will benefit from tell.money’s CoP service, improving security and compliance and allowing them to deliver…
Paysend has unveiled a new feature that allows instant and straightforward cross-border payouts to China UnionPay cards for its Enterprise customers. This enhancement enables businesses to utilize the speed, reach, and reliability of Paysend’s single API to send cross-border payments directly to UnionPay cards issued in China. It complements existing payout options for Visa, Mastercard, and account transfers to over 165 countries. Companies can seamlessly integrate UnionPay payouts into their workflows, benefiting from real-time foreign exchange rates and 24/7 notifications, ensuring their payment requirements are met anytime, anywhere. International businesses often encounter significant hurdles when transferring funds to China, largely…
Expend, the digital platform for business expense management, has reported a remarkable uptake of its innovative product, Card Connect™. This platform is the first in the UK to offer instant processing of business expense data from Mastercard and Visa transaction feeds directly into its expense management capabilities. With Card Connect, Expend clients can enjoy real-time expense settlement, enhancing financial management and efficiency. CEO Johnny Vowles explains, “Card Connect has two key features. First, it allows companies to connect all their business cards to a single platform that supports multiple card types. This enables users to view and submit all their…
Workers are avoiding Artificial Intelligence (AI) due to fears of being labeled as ‘cheating’ by their employers, according to recent research. The study, conducted by Lifeline IT, found that over two-thirds of businesses do not use AI applications at work, with 27% citing concerns about appearing dishonest as a key reason. Lifeline IT, a technology services company, conducted this research to explore IT habits and challenges in the workplace. Following the findings, they are now offering expert advice on AI use, focusing on security and data management issues. In the UK, approximately one in six organizations (432,000) have adopted some…
Shareholder opposition to four common resolution types—director elections, remuneration reports, remuneration policies, and share issuance—saw a notable decrease during the 2024 European annual general meeting (AGM) season, according to global shareholder engagement firm Georgeson. Georgeson’s 2024 European AGM Season Review examined proxy voting data from eight European markets (the UK, Netherlands, Germany, Spain, France, Switzerland, Italy, and Belgium) between 1 July 2023 and 30 June 2024. The firm highlighted a general drop in contested resolutions, defined as those receiving 10% or more negative votes, across all eight markets. Domenic Brancati, Global COO of Georgeson, noted, “The significant decrease in shareholder…
According to Georgeson, a global shareholder engagement firm, shareholder opposition to four common types of resolutions—director elections, remuneration reports, remuneration policies, and share issuance—significantly decreased during the 2024 European annual general meeting (AGM) season. Georgeson’s 2024 European AGM Season Review, which analyzed proxy voting data from eight European markets (UK, Netherlands, Germany, Spain, France, Switzerland, Italy, and Belgium) between July 1, 2023, and June 30, 2024, highlighted this trend. The firm observed a general reduction in contested resolutions—those receiving 10% or more negative votes—across these markets. Georgeson’s Global COO, Domenic Brancati, attributed this decline to improved shareholder engagement by companies.…
Investors are being urged to brace for significant changes in currency markets as Chinese companies may soon repatriate large amounts of their U.S. dollar-denominated assets. Nigel Green, CEO of deVere Group, a leading financial advisory and asset management firm, warns that this potential move, driven by expected U.S. interest rate cuts, could dramatically impact the exchange rate between the Chinese yuan and the U.S. dollar, with far-reaching consequences for global financial stability. He explains, “Recent patterns indicate that Chinese firms, which have amassed over $2 trillion in offshore investments—mainly in U.S. dollar assets—are preparing for a major shift. “This accumulation…