Small businesses in southeast England are benefitting from a strong recovery in bank lending, leaving the rest of the UK trailing behind, according to new research from the British Business Bank. Lending to businesses in the region surged, driving a 21% rise in approved loans and overdrafts across the UK in the first half of […]
Investment in UK start-ups has hit its lowest level in six years, highlighting the growing challenge for the government in stimulating economic growth. In the three months to September, there were just 32 fundraising rounds for early-stage businesses, down from 75 in the previous quarter, according to data provided to The Times. A study commissioned […]
Billionaire retail mogul Mohsin Issa, former CEO and co-owner of Asda, has made his first major investment since stepping down from the supermarket giant, putting £10 million into Liverpool-based sports supplements company, Applied Nutrition. The company is preparing to go public on the London Stock Exchange. Issa’s investment in Applied Nutrition comes through his investment […]
FinTech Monese has been saved by Cardiff-based digital banking provider Pockit after HSBC became the latest investor to write off its investment in the struggling London firm. The acquisition comes after Monese’s failure to raise new funds and pre-tax losses of £30.5 million in 2022, despite revenues climbing to £27.7m. Founded in 2015 as the […]
Perlego, an education technology platform known as the “Spotify for textbooks,” has secured a $20m fundraising round led by Sir Terry Leahy, the former CEO of Tesco. The digital library service, which offers unlimited access to academic titles via subscription, is expected to announce the capital injection this week. The new funding round also includes […]
Private equity firms are circling Evelyn Partners’ accountancy division, which has been put up for sale and is attracting significant interest despite rising regulatory scrutiny. Among the interested parties is Apax, which is reportedly considering a bid for the professional services division that offers accounting and tax services. The unit could be valued at over […]
Wealthy investors are increasingly turning to start-up companies to mitigate their tax burdens, particularly as a potential capital gains tax (CGT) increase looms in the upcoming budget. Investment in seed enterprise investment schemes (SEISs) surged by 250% between July 4 and September 16 this year, according to Wealth Club, with savers hoping to reduce their […]
Samir Desai, co-founder and former CEO of Funding Circle, is stepping down from the board of the small business lender, distancing himself further from the company he helped build. Desai, 41, was instrumental in founding the peer-to-peer lending platform in 2010 alongside Andrew Mullinger and James Meekings. After serving as CEO for 12 years, he […]
Raspberry Pi, the UK-based maker of affordable microcomputers, has reported stronger-than-expected profits in its first financial update since going public on the London Stock Exchange in June. The company, which raised £178.9 million through its initial public offering and joined the FTSE 250, saw year-on-year sales jump 61% to $144 million in the six months […]
Trinny Woodall’s beauty brand, Trinny London, has secured a £15 million funding boost from Aurelius Finance Company (AFC), a private debt provider, as part of its ambitious growth strategy. Founded in 2017, Trinny London has grown into a successful direct-to-consumer business, specialising in premium skincare and make-up. This fresh injection of capital will support the […]