Author: Jonathan Symcox

Nubank has walked away from a potential £10 billion takeover of UK digital bank Monzo, reigniting hopes of a London IPO or minority private equity deal.

Shares in Latin America’s largest FinTech dropped sharply this week as investors were seemingly spooked by the weekend reports that the companies were in talks.

The news had come as a blow to London’s public markets, as the City has long courted Monzo, one of the UK’s flagship digital banks, as a potential listing candidate.

Alongside the Nubank talks, Monzo is also said to be in discussions with private equity firms over the sale of a minority stake. A third, less likely option being considered is a further traditional equity fundraise.

Author: Chris Maguire

It’s the end of an era with the news that Karen Musgrave has left the RSM UK building after 30 years.

She joined in 1996, straight from university, and became office managing partner for Preston in 2022.

“I have no idea where that time has gone,” she said.

“During those three decades I have had the privilege of working with outstanding businesses across Lancashire and beyond, meeting entrepreneurs , trustees and a wide range of dedicated professionals who care hugely about what they do and the organisations they lead. I have learned something from every one of them.

“Most of all though I want to acknowledge the inspiring and talented colleagues I have worked alongside during those 30 years – particularly those I work with in the RSM UK Preston office. I hope I have had even a fraction of the positive influence on them that they have had on me.”

Author: Chris Maguire

Luke Greasley has been promoted to head of M&A at LADbible Group.

He said: “Over the past few years, I’ve had the opportunity to play a growing role in shaping LBG’s M&A strategy, working closely with leadership teams as we look at where we can build, invest and grow next.

“The acquisitions of Betches Media in the US and Uncovered in the UK have been two particular highlights. Both are amazing teams, setting the standard in their spaces.

“I feel very lucky to be part of a business, and a sector, with so much still to go.

“A big thank you to everyone at LBG Media and the external advisor teams who have supported along the way. Here’s to what comes next.”

He joined LADbible in 2021 after spending three years at PwC.

eEnergy Group plc has raised £6.3 million in emergency funding and plans to raise another £2m following a ‘turbulent’ summer.

This week the company said it must source new capital to refinance the business, enable it to pay overdue creditors and ‘take advantage of the many opportunities which exist in its markets’.

It raised the £6.3m via a placing priced at 0.3 pence per share. It now intends to raise another £2m via a separate retail offer at the same price.

It said the fundraising proceeds ‘will not be used towards repayment of the company’s £2.5m loans from shareholders’.

Author: Chris Maguire

Jonathan Miller has officially taken over the reins as managing director of musicMagpie from its founder Steve Oliver.

Oliver co-founded the business with Walter Gleeson from his Stockport garage in 2007 and ended his near-20-year journey with the company on September 30.

The company floated in 2021 and was acquired by electrical appliances retailer AO in 2024 for £10m.

Miller said: “Steve built something remarkable, a business that’s become the biggest and most trusted consumer electronics and media recommerce brand in the UK, and he’s been a fantastic boss, mentor and I’m proud to call him a good friend.

“I’m inheriting a brilliant team and real momentum. Our partnership with Timpson Group now gives customers instant cash for their old tech at more than 1,300 stores across the UK, and that’s just the start.

“As part of AO, the opportunities ahead are huge from bringing trade-in and refurbished tech to AO.com customers to building on the synergies with our newest addition to the group, Camera Jungle Ltd.

“I couldn’t ask for a better team to take this on with. We’ll do your legacy proud, Steve.”

Oliver, a lifelong Man City fan, said: “You’ll smash it, Jon – just remember – no red … anywhere.”

UKREiiF, the UK’s premier real estate, investment and infrastructure event, is relocating from Leeds to Liverpool in 2028.

UKREiiF – the UK’s Real Estate Investment and Infrastructure Forum – has generated millions of pounds of economic benefit and attracted thousands of visitors.

Steve Rotheram, Mayor of Liverpool City Region, said: “This is a massive win for the Liverpool City Region and a real vote of confidence in everything we’ve been building together.

“I want to put on record my genuine thanks to Leeds and West Yorkshire. They’ve done a brilliant job hosting UKREiiF and building it into the major event it is today.

“Taking the baton from them is a privilege – and we’ll work hard to build on the foundations they’ve laid and take it to the next level.

“If we get that right, UKREiiF won’t just be hosted in Liverpool – it will become part of Liverpool.”

Amazon Web Services (AWS) is backing the return of AWS North Community Conference – alongside a number of other regional supporters – demonstrating its commitment to supporting the North East’s growing technology sector and bringing its tech community together.

Alongside AWS, CGI, Scott Logic and TrueNorth have joined Leighton, which founded and organised AWS North, as sponsors of the one-day conference, which will take place at The Baltic in Gateshead on Thursday 15th October 2026.

Created to support the expanding technology sector across the North of England, the AWS North Community Conference provides a platform for developers, engineers, businesses and technology leaders to share knowledge, explore emerging technologies and build connections within the regional tech community.

The backing of five well-established businesses highlights the importance of collaboration between organisations in supporting the North East’s technology ecosystem, creating opportunities for local talent and helping businesses across the region make the most of cloud computing and digital innovation.

GB Bank has reached £1 billion in lending, marking a significant milestone for the specialist bank in under two and half years.

The milestone follows a period of continued expansion for GB Bank, with the specialist bank broadening its property-backed lending proposition and strengthening its relationships across the intermediary market.

It has been reached during a demanding period for the UK property finance market, with higher funding costs and greater caution across the lending sector.

GB Bank combines retail savings, bespoke property-backed lending and specialist funding lines. It works with intermediaries, professional investors, entrepreneurs, businesses and non-bank lenders to solve complex funding needs quickly and pragmatically, with the service, flexibility and personalised approach often associated with private banks.

The bank has continued to develop its lending proposition during 2026, most recently relaunching its commercial finance offering and increasing its maximum loan size from up to £20 million to up to £25 million.

Author: Jonathan Symcox

ElevenLabs has doubled its valuation to a mammoth $22 billion in a $300 million secondary share sale.

The firm, founded in London in 2022 by Polish entrepreneurs Mati Staniszewski and Piotr Dabkowski, develops AI tools that generate lifelike synthetic voices used in areas including customer service, text-to-speech and dubbing. 

It claims its technology is now used in daily operations at five of the world’s 10 largest tech companies, five of the 10 largest insurers, and four of the 10 largest telecoms firms.

The firm’s $22bn valuation is double the figure it achieved at Series D in February, while previous funding rounds last year valued it at $6.6bn and, before that, $3.3bn.

The latest round was led by long-term institutional investors Wellington and T. Rowe Price.

 

Author: Jonathan Symcox

iplicit, a finance system for the UK and Ireland mid-market, has opened a new office in Newcastle as it looks to take on legacy vendors such as Sage.

The firm, which provides an AI-powered cloud-native finance system, has grown rapidly since market launch in 2019, now serving over 50,000 daily users across 103 countries.

With new customer acquisition up by over 100% in the past 18 months, iplicit is expanding its commercial team with the creation of new sales roles and the opening of a second physical base in Newcastle, a growing technology talent hub that will give the company a direct pipeline of skilled talent to further strengthen its market leadership.

“iplicit entered the market eight years ago to fill a gap left open by legacy providers like Sage, which had got too comfortable neglecting and not investing in their mid-market customers. Today, we have become a dominant force in it,” said Lyndon Stickley, CEO.

“Customers are choosing us over alternative providers because our tech, our team and our partners are the best in the market. We have recruited over 40 members of staff directly from the legacy vendors in the UK, with almost 30 coming from Sage; we expect many more to follow in the coming years.

“Newcastle provides us with a direct line into some of the most experienced finance software resources in the country, across sales, marketing, services and support.”

 

Sheffield HealthTech SleepCogni has appointed two new non-executive directors.

The platform’s smart handheld device offer immediate relief to people who struggle to fall asleep.

Bryn Sage is the former CEO of Inhealthcare (acquired by Resmed), and Jason Brannan is former Deputy Director of the Advanced Wellbeing Research Centre at Sheffield Hallam University.

They will work closely with CEO Richard Mills as the business prepares for further NHS engagement and raises its next round of investment to commercialise SleepCogni.

The startup’s board is chaired by Colin Greene, a former Apple director for almost 15 years, who served as CEO of Apple Korea. He is now an operational partner at PXN Ventures.

British entrepreneur Ross Mason has raised $120 million to back founders building AI’s ‘engine room’ through his firm DIG Ventures.

DIG was launched in 2018 and is led by Mason, founder of enterprise integration company MuleSoft, which Salesforce acquired for $6.5 billion; Melissa Klinger, former UK sales lead at MuleSoft; and Rytis Vitkauskas, founder of YPlan and a former partner at Lightspeed Venture Partners.

The operator-led team brings first-hand experience of building, scaling and exiting software businesses. 

 

A family-owned online supplier of natural and organic cosmetic and skincare ingredients has ceased trading and been placed in administration.

Christopher Horner and Kevin Pinkerton, of restructuring and insolvency practice Business Rescue Expert, have been appointed joint administrators of Scotland-based Aromantic Limited.

The £1.1 million-turnover business, based on the Greshop Industrial Estate in Forres, traded via its own website and online platforms such as Amazon and Shopify – supplying oils, fragrances and other ingredients to customers creating their own creams, lotions, balms, toiletries and spa products.

The joint administrators have secured the sale to an unrelated party of the company’s assets, including its stock, websites and online platforms.

All 11 employees were made redundant immediately before the administration.

Author: Jonathan Symcox

eEnergy Group plc is seeking emergency funding following a ‘turbulent’ summer.

The company’s board has decided that it must source new capital to refinance the business, enable it to pay overdue creditors and ‘take advantage of the many opportunities which exist in its markets’.

It said: “The ongoing delays in receiving the Mace cash have severely impacted eEnergy’s ability to pay creditors as they fall due and are adversely impacting the company’s ability to source materials and services to continue current installations effectively.”

In connection with the proposed fundraising, the company has entered a Capital Access Window – a mechanism introduced recently in the updated AIM rules for companies.  

This is a voluntary pause to the trading of a company’s shares to make it easier for companies to reach a broader range of investors during a fundraise. During the window, the company and its advisers will seek to determine the level of investor demand and the appropriate size of the proposed fundraising.

Author: Jonathan Symcox

FinTech Zilch is reportedly preparing for a £1.5 billion London IPO – and it could list as early as next year.

The Financial Times, citing insiders familiar with the firm’s plans, claims that the consumer payments platform is lining up investment banks for a potential blockbuster listing.

They said that this month Zilch invited banks to pitch for roles on its planned flotation, although discussions remain in the early stages and may not come to fruition.

Should Europe’s fastest-growing unicorn opt for an IPO in its home city, it would be a huge boost to the London Stock Exchange after several take-private deals were announced.

A further blow to the LSE emerged over the weekend when another long-anticipated listing candidate, neobank Monzo, was reported to have entered discussions with Brazilian giant Nubank’s over a sale – as well as minority stake talks with private equity houses.

Regulators have provisionally green-lit the takeover of Southern Co-operative by the Co-operative Group.

The Competition and Markets Authority said earlier this month that the deal, agreed in April, could ‌reduce competition in some markets following a phase 1 investigation.

Now the CMA has proposed to accept a remedies package since offered by the Co-Op Group to address these competition concerns.

 

Glider Technology and Virtual Helpdesk have announced a strategic partnership that will help asset owners maintain accurate, trusted and auditable building information throughout the operational life of their estates.

The partnership brings together Glider’s Asset Intelligence discipline with VHD’s established facilities and asset management platform, creating a stronger link between asset information, planned and reactive maintenance, compliance activities and operational performance.

For asset owners, the result is greater confidence that critical building information remains current, accessible and verifiable long after construction handover, supporting compliance, safety and informed decision-making across the estate.

UK sustainable packaging startup, iBoxit Limited, has secured £230,000 in investment from the British Design Fund, as part of a wider £400,000 funding round, to support the development and commercial readiness of its plant‑based alternatives to expanded polystyrene (EPS).

iBoxit was founded by entrepreneur John Farley, who first identified the scale of EPS waste while trading Scottish salmon internationally. During a visit to a processing plant on Scotland’s west coast, John witnessed the large volume of single‑use EPS boxes being discarded daily and this prompted him to explore sustainable alternatives.

EPS is widely recognised as a persistent pollutant, with the majority of single‑use boxes ending up in landfill or contaminating marine environments. iBoxit is developing recyclable and biodegradable packaging systems designed to exceed the thermal and structural performance of EPS while reducing its environmental impact.

The company’s plant‑based biofoam materials biodegrade into an organic fertiliser, offering a circular alternative for sectors including seafood logistics, food processing, pharmaceuticals and industrial packaging.

Industry veterans David Lockie and Elona Mortimer-Zhika have launched Elevare Software Group with the acquisitions of Rubixx and Voicescape, two leading technology providers to UK landlords.

The deals mark Elevare’s entry into housing, the first of multiple sectors it plans to invest in, as the Government drives a decade of renewal for social and affordable housing.

Elevare combines long-term capital, hands-on expertise and an AI-first mindset to help ambitious software and tech-enabled services businesses scale while retaining their identity. Backed by mid-market private equity firm Livingbridge, Elevare draws on Lockie and Mortimer-Zhika’s track record of growing software businesses, including leading IRIS Software Group through its $4 billion recapitalisation, one of Europe’s largest technology buyouts at the time.

Rubixx and Voicescape will anchor a new housing technology ecosystem.

Rubixx’s cloud-native housing management platform helps social landlords keep homes safe, meet regulatory obligations and operate efficiently. Founded by Simon Reay, Adam Parker and Michelle Holland, the business is built on open APIs and updated every eight weeks. It supports 40 organisations covering approximately 100,000 properties.

Founded by John Doyle, Voicescape uses behavioural science, data analytics and automation to help landlords engage residents, identify vulnerable households, improve rent collection and evidence compliance. Trusted by more than 135 housing associations and local authorities, its platform covers around four million homes. The acquisition also gives Elevare an immediate foothold at the intersection of housing and public sector technology.

The transaction marks a successful exit for BGF, which backed Voicescape in 2023 and has reinvested alongside Elevare to support its next phase of growth.

Insurwave has announced an update and relaunch of its dynamic risk platform – bringing insurers, brokers and fleet owners onto one platform designed to make dynamic risk measurable as it moves.

The relaunch introduces four modules covering Aviation and Marine today. Track & Cover gives fleet owners a single, live view of every asset and its cover, with additional premiums quoted directly through the platform. Risk Intelligence turns a submission into a defensible risk score, drawing on real-time data analysis and historical data from specialist providers. Both modules are available today.

Portfolio Impact Analysis and Continuous Intelligence will follow later this year, enabling users to model how an individual risk affects aggregate exposure and continuously re-score bound business as events and risk conditions evolve.