Cycle Exchange, the UK’s leading resale platform for premium pre-owned bikes, has raised £2.4 million to accelerate its next phase of growth.

Founded by passionate cyclist Matt Connelley to offer a trusted destination for high-spec pre-owned bikes, the business now provides a range of refurbished road, gravel and mountain bikes, plus parts and accessories, both online and through its South West London hub and growing network of partner outlets.

The new funding will enable the business to scale its UK footprint, expand refurbishment and servicing capacity, as well as invest in its technology platform to streamline procurement and optimise pricing.

Consumer payments platform Zilch has secured a payments services licence from the Financial Conduct Authority (FCA), allowing it to bring more payment methods and products in-house and innovate faster, including around emerging technologies like stablecoins.

The licence follows two significant product launches – Zilch Pay, due to go live in H1 2026 with a one-click checkout to capture more consumer spend; and Intelligent Commerce, an AI-powered platform turning live engagement data into real-time insights.

With FCA authorisation, the London-based FinTech gains earlier access to regulatory roadmap discussions, product testing and deeper commercial partnerships.

The company has also secured Principal Membership of Visa and recently raised over $175 million in debt and equity, as well as becoming the Official Way to Pay for Arsenal FC.

Birmingham-based field service management software provider Joblogic has acquired Arantico and Invida in deals that significantly expand its footprint across the UK and Ireland.

Backed by recent investment from Vista Equity Partners, the acquisitions add over 100 customers and around 60,000 end users, extending the company’s reach across the facilities management ecosystem and connecting contractors, building owners and property managers on a single platform.

Arantico strengthens Joblogic’s presence in Ireland with its mobile-first solutions for contractors, while Invida, which will continue operating as a distinct business unit, deepens capabilities in estates and facilities management for major clients including Cambridge University and NHS Trusts.

Customers across all three businesses will benefit from increased product investment, improved compliance and visibility, as well as enhanced customer support as Joblogic pursues further strategic acquisitions in 2026 and beyond.

Yonda, a global tax automation platform helping businesses stay compliant across borders, has raised its first institutional funding round, bringing total investment to $15 million (£11.2m).

Led by Kennet Partners with participation from NYO Capital and Portfolio Ventures, the funding will be used to enhance the platform and accelerate expansion into new industries and tax jurisdictions.

As companies scale internationally and face increasingly complex VAT, GST, and Sales Tax rules, Yonda automates compliance from registration through filing and remittance, reducing risk and operational burden.

The London-based company has grown over 100% year-on-year, now serving more than 350 clients worldwide, including eCommerce, SaaS and AI businesses across the US, UK, Australia, Canada and Singapore.

OpenAI has appointed Slack CEO Denise Dresser as its new chief revenue officer, where she will lead global revenue strategy across enterprise and customer success.

Dresser brings deep experience in scaling workplace products, having guided Slack through its Salesforce integration and previously built major global sales organisations at Salesforce.

Her arrival comes as businesses worldwide move from AI experimentation to full-scale adoption, with workers reporting significant time savings and improved productivity.

OpenAI is already supporting this shift through ChatGPT for Work and its API platform, now used by more than one million business customers including Walmart, Morgan Stanley, Intuit, Databricks, Target and Lowe’s.

McDonald’s Netherlands has pulled a 45-second AI-generated Christmas advert after it drew widespread criticism for its “creepy” visuals and choppy, stitched-together clips.

Released on 6th December and created using generative AI by TBWA\Neboko and The Sweetshop, the ad aimed to show holiday mishaps under the slogan “the most terrible time of the year”.

Instead, viewers slammed the uncanny characters and awkward editing, calling it one of the worst ads of the season.

McDonald’s removed the video three days later, saying the backlash was “an important learning” as it evaluates how to use AI effectively.

Australia’s landmark ban on social media for under-16s has now come into force, forcing platforms like Meta, TikTok and YouTube to take “reasonable steps” to stop young teenagers from holding accounts. 

The government says the world-first policy is needed to protect children from harmful content and addictive algorithms, and non-compliant companies could face fines of up to A$49.5 million (£24.6m). 

Parents widely back the move, hoping it will curb cyber bullying and exploitation, but many young people and some advocates warn it could strip vulnerable teens of vital online communities and connections.

The UK Government has announced a major new partnership with Google DeepMind that will aim to modernise public services, strengthen national security and give British scientists priority access to world-leading AI tools.

As part of the agreement, Google DeepMind will open its first fully automated research lab in the UK next year, using AI and robotics to accelerate breakthroughs in areas such as superconductors, clean energy and advanced materials.

The partnership also paves the way for smarter public services, including potential AI systems to reduce bureaucracy and support teachers in the classroom.

Satsuma Technology PLC, a diversified Bitcoin-focused technology company, has announced the proposed appointment of Ranald McGregor-Smith as chair and Clive Carver as senior independent director, both to take effect upon completion of its planned uplisting to the London Stock Exchange’s main market.

The appointments bring deep UK PLC, advisory and capital markets experience to the board, significantly enhancing the company’s corporate governance as it targets admission to the FCA’s Official List.

Alongside the board changes, the business has sold 579 Bitcoin, raising approximately £40 million and leaving the company with around £90m in cash and 620 Bitcoin, positioning it to meet £78m of convertible loan note liabilities due on 31st December 2025.

Global sports betting and gaming group Entain plc is set to replace its CFO and group deputy CEO after 13 years at the company.

Rob Wood will be succeeded by Michael Snape on 6th March 2026, with Wood remaining at the FTSE 100 firm until June 2026 to ensure a smooth handover.

The London-based firm says Wood made a ‘significant impact’ to its growth over the last 13 years, playing a key role in shaping the business into a globally scaled operator with podium positions in attractive regulated markets.

Snape brings over two decades of experience in senior finance and leadership roles, with a proven track record of delivering financial, commercial and operational excellence across large, international companies operating in complex industries.

He joins from global logistics company International Distribution Services (IDS), where he is currently group CFO and recently led its de-listing and sale.

Prior to IDS, he spent five years at Walgreens Boots Alliance as CFO of Boots, No7 Beauty & International.

During his earlier career, he worked for Tesco plc as International CFO, Waitrose and J Sainsburys plc.

Author: Patrick Killeen

RWS Holdings has announced a major shake-up at board level as the company reported a sharp fall in profit for the year ended 30th September 2025.

Chair Julie Southern and senior independent director David Clayton will both step down at the end of the year, ending a period in which Southern helped strengthen the board and transition the group to new executive leadership.

The changes come as the global AI solutions company posted a significant 43% drop in adjusted profit before tax, falling from £106.7 million to £60.4m.

Adjusted EBITDA fell 29% to £100.8m and revenue declined 4% to £690.1m.

A consortium comprising Super Media Group, everplay and HIRO Capital has acquired first-person shooter studio Bulkhead from Chinese giant Tencent.

everplay, a global independent games developer and publisher, has acquired a 20% minority stake in SMG for £2 million.

Founded in 2014, Derby-based Bulkhead is behind indie FPS titles including Battalion 1944. It has also invested in proprietary Unreal Engine tooling with its ‘War Tech Framework’, enabling faster FPS development cycles built around realistic FPS mechanics.

Alongside everplay’s equity investment, the group will partner with the studio on a new title, Wardogs, a multiplayer FPS to be published by Team17 and planned for Early Access release on PC in 2026 and a full multi-platform release in 2027.

TruFin has announced a major upgrade to its 2025 outlook following the successful 9th December launch of Unbeatable, the highly anticipated anime-inspired rhythm-action adventure game from its subsidiary Playstack.

Strong sales of Unbeatable, combined with an impressive performance across Playstack’s back catalogue, mean the London-based-and-listed firm now expects full-year revenue, adjusted EBITDA and profit before tax to exceed £60.3 million, £11.2m and £7m respectively.

The company also anticipates a stronger year-end cash position than previously forecast.

Its shares have risen by 2.5% to 121p so far this morning.

Author: Patrick Killeen

EdTech RM plc has posted a huge increase in annual operating profit.

The global educational technology, digital learning and assessment solution provider, based in Abingdon, Oxfordshire, reported adjusted operating profit of £11.5m, with adjusted EBITDA of £16.6m, for the year ended 30th November 2025 – 34% and 21% higher than 2024, respectively.

The firm said this demonstrates ‘further progress on margin improvement and cost savings’.

Author: Patrick Killeen

NCC Group has swung back to profit despite a dip in revenues, as it pushes ahead with plans to simplify the business and focus on core cyber security services.

For the year to 30th September 2025, group revenue fell 7.2% from £329.2 million to £305.4m, with Cyber Security revenues down to £227.4m and Escode edging up to £66.5m.

Despite the revenue decline, the Manchester-based company delivered a strong profit recovery.

Adjusted EBITDA for the year was £43.7m (2024: £49.7m), but profit before tax rebounded to £20.6m from a £17.8m loss the previous year, reflecting tighter cost control, lower finance and depreciation charges, as well as an £11.4m gain on the sale of its Fox-IT Crypto business.

Author: Jonathan Symcox

HIRO Capital has appointed former Deputy Prime Minister Sir Nick Clegg as general partner.

The founder-led VC firm, also former president of global affairs at Facebook parent company Meta, said Sir Nick is joining as a general partner ahead of the launch of its third fund.

HIRO III is a large multi-stage fund able to deploy from €5-50 million each into promising innovators, targeting the scale-up capital gap in the UK and Europe.

HIRO’s team will also be strengthened by a new advisory board, which brings exceptional domain expertise across each of the four core themes of the HIRO thesis: spatial AI and cloud, autonomy & robotics, space & defence, and augmentation & longevity.

Author: Patrick Killeen

Azul has acquired Worcestershire-based Payara, a global provider of enterprise-grade solutions for Jakarta EE (Java EE) applications and microservices.

The acquisition builds on nearly eight years of collaboration between the two firms.

The announcement follows California-headquartered Azul’s majority investment from Thoma Bravo, alongside renewed minority investments from the company’s existing private equity sponsors, Vitruvian Partners and Lead Edge Capital.

Author: Chris Maguire

Morpheus Lending has today announced a new £110m senior funding line with leading alternative asset manager, Pollen Street Capital.

Manchester-headquartered Morpheus has built a digital-only bridging platform centred around speed and efficiency, for both clients and brokers.

The new funding line will enable further growth and scale to support more property professionals, landlords and SME’s across the UK.

Ocado (+16.77%) was the biggest winner on the entire FTSE All-Share today as it spiked following data from NielsenIQ, which showed that it leads in grocery retail growth over the last 12 weeks.

Evoke (+11.44%) rose substantially today on the back of the news that it is considering a potential sale to maximise shareholder value. The board has appointed Morgan Stanley & Co. International plc and Rothschild & Co as its joint financial advisers in connection with an upcoming strategic review.

Other risers today within the technology scene were Trainline (+2.96%), Paypoint (+1.69%) and TT Electronics (+1.49%).

On the flip side, Kainos Group (-6.81%) dropped today after a hugely successful month. It marks a stark contrast to the 28% jump it had experienced in the prior 30 days.

Auction Technology Group (-4.55%) also slid after releasing its annual report for FY25.

Other notable slips today included Ceres Power (-4.09%), Moonpig (-4.02%) and NCC Group (-3.21%).

UK robotics and AI firm Dexory has appointed its first chief financial officer in Bas Lustenhouwer.

Lustenhouwer’s background includes senior CFO roles and more extensive experience in investment banking.

He was previously CFO at Nivoda, a global B2B marketplace for the jewellery industry, and prior to that served the same role at fellow Dutch firm Klup, a social network for the over-50s.

The move comes as the company continues to build momentum following its £125m Series C funding raise in October, eyeing further global expansion.

Its real-time data and robotics platform is used by GXO, Maersk, DHL and others.