Aptitude Software, a provider of enterprise finance software, has appointed Kenneth Paqvalén as CFO.

The company is scaling Fynapse, an AI-native Enterprise Resource Planning system for finance. ERP systems are used by organisations to manage and integrate their core business processes.

Paqvalén brings a strong track record of scaling SaaS and AI businesses. His 2020-2023 tenure at Matillion, a data pipeline platform for AI and analytics at scale, saw him grow the business from $150 million to $1.5 billion, achieving tech unicorn status.

 

Exited founders Hazel Savage and James Butcher have been appointed as advisors at Fhunded Angels, Lancashire County Council’s early-stage equity investment initiative.

Savage is an experienced music tech founder, board member and private investor. With deep experience across the global music and technology sectors, she is the former CEO and co-founder of Musiio – later acquired by SoundCloud – and has worked with music industry giants such as Shazam and Pandora.

Currently lead investor at the Leeds Angels syndicate in West Yorkshire, she will use her commercial expertise to help Fhunded Angels increase the flow of early-stage finance specifically within Lancashire’s creative and entertainment sectors.

Butcher is an in-demand non-executive director and company chair. Already one of Fhunded Angel’s most active investors, his advisory role will now see him helping Lancashire startups seeking finance to get more investment-ready.

Reclinker, a company turning demolition waste into low-carbon cement, has secured £10 million in Series A funding to take its breakthrough cement recycling process from successful trials to full commercial production.

The round is co-led by specialist ClimateTech investors Clean Growth Fund and AP Ventures, with further participation from Development Bank of Wales, Kibo Invest and existing investors including Zero Carbon Capital and Cambridge Enterprise.

The new funding will scale production in Cardiff, bringing skilled green jobs to the area.

Reclinker has already made thousands of tonnes at 7 Steel UK’s site and secured its first commercial sales; those first sales tap directly into surging commercial demand. Blast-furnace slag, long used to make low-carbon cement blends, is disappearing fast as steelmakers move away from blast furnaces, leaving concrete producers short of the low-carbon materials they increasingly need. Reclinker’s product steps straight into that gap.

The firm says the funding will support replication across additional electric arc furnace sites in Europe and the US.

Nuba has secured £320,000 in pre-seed funding led by SFC Capital to make rent rewarding.

The startup is building a rewards network connecting renters, property operators and neighbourhood businesses. The idea is to give residents more value from where they live, while helping property partners reward renewals and referrals, and local businesses attract repeat customers.

Its initial rent-by-card product has processed nearly £200,000 in rent payments. The funding will support the wider platform, its first operator pilots and rewards partnerships.

Author: Chris Maguire

Car Finance 247 is on track for a year of record growth, with revenue in the first half of this year up 25 per cent on the same period in 2025 and EBITDA up 60 per cent.

The news comes as the market-leading car finance platform reports on its financial performance for the 18-month period ended 31 December 2025, announcing revenue of £100m and EBITDA of £12.2m.

The company was founded in 2006 by brothers Reg and Louis Rix, who were included in BusinessCloud’s Founder 250 list.

George Farmer, managing director at Car Finance 247, said: “These results reflect the hard work of our team and the investments we’ve made across the business during a period of consolidation.

“We’re now seeing those investments bear fruit. With strong momentum in the current financial year, growing profitability and a highly scalable platform, we’re already delivering on our plans and we’re confident that Car Finance 247 is well positioned for significant future growth.”

The results follow a sustained period of investment and consolidation, which included announcing plans to open its first office outside Manchester in Bournemouth.

Author: Jonathan Symcox

BT Group plc has acquired TalkTalk Telecommunications Limited and PlatformX Communications Limited out of administration, saving 900 jobs.

The cost to BT is around £400 million, the company said. This includes transaction and administration costs, working capital, a £60m trading loss and £100m in uncollected Openreach revenue.

All employees at Salford-headquartered TalkTalk will move across as part of the deal.

 

Two 21-year-old childhood friends have raised $3 million for an AI platform designed to help growing businesses find customers and build their sales pipelines without the cost of a large in-house marketing team.

Revnu was founded by George Jefferson and Art Freebrey, who first met in secondary school before going on to launch a string of businesses together while still in education.

After recognising that the AI systems they had developed to automate work in their own businesses could have a much wider application, George and Art were encouraged by Monzo co-founder Jonas Templestein to pursue the opportunity and apply to Y Combinator. 

The pair then dropped out of university and moved temporarily to Silicon Valley to take part in the renowned accelerator.

Revnu has now raised $3m in a round led by NPIF II – PXN Equity Finance, which is managed by PXN Ventures as part of the Northern Powerhouse Investment Fund II. The company also received backing from Y Combinator.

Despite considering building Revnu in San Francisco following the programme – and with much of its current customer base located there – George and Art instead returned to Manchester, where they believe access to emerging engineering and technology talent gives them the right base from which to scale globally.

Winners across 12 categories have been recognised at the ninth annual Leeds Digital Festival Awards, celebrating the people, businesses and teams contributing to Yorkshire’s technology sector.

The awards, organised by Ward Hadaway and tech consultancy byProduct, form part of Leeds Digital Festival and recognise achievement across areas including growth, innovation, leadership, workplace culture, equality and the use of technology for social good.

The 2026 winners were chosen by a judging panel of figures from across Leeds’ technology and business community, including founders, operators and public sector representatives. They were announced at an awards ceremony at The Wardrobe in Leeds on Thursday 1st October.

 

Author: Jonathan Symcox

An adaptive AI study platform has been sold to a US company just a year after its founders graduated.

Ben Ward, 23, and Jonathan Graham, 24, founded StudyStash while studying computer science at the University of Birmingham to turn their own course notes into study materials. They also worked together on PwC’s technology degree apprenticeship. 

The platform – which uses neuroscience to supercharge learning – has been acquired by EdTech leader Kortext for an undisclosed figure which reports suggest is in eight figures – i.e. at least $10 million.

Ward and Graham will remain as CEO and CTO respectively, and continue to lead StudyStash as a distinct brand. The pair is relocating to Silicon Valley.

Author: Chris Maguire

Following August’s shock news that Oldham-based Mansell Building Solutions had filed for administration, Angela Mansell is back.

The former managing director of the family-run construction firm has now founded Northing Advisory to work with owners, boards and leadership teams across the built environment, manufacturing and MMC.

She said: “I don’t think another traditional full-time MD role is what I want. I’ve done that for a long time and, right now, I’m much more interested in where nearly 25 years of actually running a business might be useful to other people.”

Mansell Building Solutions blamed a  ‘prolonged period of exceptionally challenging trading conditions across the UK construction sector’ for the decision to call in administrators.

The news came a few months after Andy Burnham, then the Greater Manchester Mayor, opened the company’s new headquarters and Greater Manchester’s first dedicated Modern Methods of Construction (MMC) Centre.

 

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.”