London-based LegalTech Robin AI has been put up for sale after falling short of its fundraising targets, putting nearly 200 jobs at risk.

The move follows reports that the firm cut a third of its workforce after failing to close a planned £38 million funding round.

The business, which has previously been backed by Nik Storonsky and Tom Blomfield, founders of Revolut and Monzo respectively, is now listed on an insolvency marketplace as it explores rescue options.