Author: Jonathan Symcox

B&M has turned to ASDA figure Atheeq Akbar to fill its troublesome CFO role – but he won’t join until 2027.

The retailer’s finance chief Mike Schmidt resigned in October following a £7 million accounting error which triggered a profit warning.

Helen Cowing, a seasoned executive with experience in turnaround strategies, was brought in as interim CFO but a second profit warning followed in January and she left in April, with group financial controller Peter Waterhouse stepping into the role on a temporary basis.

Akbar will join B&M in February 2027. He is currently vice president of commercial finance as ASDA and previously led the retail and manufacturing finance functions at Morrisons before being appointed as a finance director in 2021. 

Author: Jonathan Symcox

A former CEO at ANS Group has been handed the top job at Trainline plc.

Ian Brown will succeed Jody Ford, who has doubled net ticket sales at the rail travel platform and overseen growth in new markets in France, Spain and Italy during his six years in charge.

Most recently, he was CEO of the UK & Ireland division of Flutter Entertainment Plc, the Irish-American parent company of Betfair, FanDuel, Paddy Power, PokerStars, Sky Betting & Gaming and Sportsbet which is listed both in New York and London.

At Flutter he delivered sustained double-digit growth but left as part of a restructuring of the firm. Prior to this, he was CEO of Manchester cloud and digital transformation provider ANS Group and, previously, CEO of the Trips business unit at Booking.com.

Author: Jonathan Symcox

THG PLC has posted a strong trading update ahead of its annual general meeting later today.

The beauty and nutrition eCommerce retailer says revenue in H1 grew 6.5% while adjusted EBITDA of at least £40 million is up 36% year-on-year, “supporting strongest H1 free cash flow since 2021”.

It reiterated its full-year guidance.

Quint Group, a FinTech group focused on credit and payments, has appointed FinTech leader Laurence Krieger as a director.

Formerly CEO of Tide and COO at Revolut, Krieger will now formally join Quint Group to work in close partnership with founder and CEO Greg Cox and the rest of the board to accelerate the growth of the group’s portfolio businesses.

He will also shape its emerging M&A strategy as Quint explores aggregation opportunities across payments and credit.

 

Astral Systems – a deep-tech firm pioneering a new type of nuclear fusion technology – has secured £23 million in the first close of a Series A investment led by Mercia Ventures. 

The round is supported by prominent tech investors including Tees River, Daphni and Blast Club, alongside previous investors Speedinvest and Playfair Capital.

It will enable the company to use its proprietary multi-state fusion (MSF) technology to develop medical isotopes that are critical for cancer diagnosis and treatment, expand production of its modular reactors and advance fusion research.

 

Author: Chris Maguire

With the clock ticking until Andy Burnham’s expected coronation as Prime Minister, BusinessCloud will be tracking the activities of the Makerfield MP.

Highlight:

According to reports in The Times, Burnham had his first meeting with Keir Starmer since Friday’s win in the Makerfield by-election. The two reportedly met for an hour at a secret location.

Media watch:

• ‘Andy Burnham: I’ll boost spending on defence’ – The Telegraph
• ‘Andy Burnham is already feeling the heat’ – The Times
• ‘Andy Burnham set to demote Rachel Reeves to lesser Cabinet role’ – Financial Times
• ‘How Andy Burnham’s wife went on disastrous Blind Date show while the pair were dating’ – Daily Mail

Social media watch:

As of 9pm on Tuesday, Burnham has had a quiet day on his social media channels, with updates from Monday’s dramatic return to Westminster and his official swearing-in ceremony as Makefield’s MP.

“Love to watch England in the pub tomorrow football but we’ll have to see what we can arrange,” he said.

Andy Burnham’s social media following:

Facebook: 109k

Instagram: 40.5k

TikTok: 56.4k

X: 622.4k

• Listen to the latest episode of the Northern Spin podcast here 

 

Author: Jonathan Symcox

One of the world’s top investors has backed a UK-headquartered AI company in a $50 million round of funding as it launches into the United States.

Partly was co-founded by CEO Levi Fawcett in New Zealand in 2020 and has built the world’s only AI foundation model purpose-built for the automotive repair supply chain. 

Fawcett is a rocket scientist who managed and developed hardware simulations for the Electron Rocket at Rocket Lab USA before co-founding Partly. Following years of research, he launched the product into the UK market and relocated the firm’s headquarters to London.

“The UK was pretty much from day one our biggest market,” Fawcett tells BusinessCloud.

Partly’s Interpreter model is the result of five years of training on human feedback and synthetic data, more than 50 manufacturer agreements, and continuous training on live data. 

So why has DST Global Partners backed it – and what attracted Fawcett to the investor?

Olympians, Paralympians and elite athletes from across the country have united behind the ambition to bring a future Olympic and Paralympic Games to the North of England, adding their names to a joint statement of support for a North of England Games.

The joint statement, signed by more than 40 Olympians, Paralympians and elite athletes, has attracted support from some of Britain’s most recognisable sporting names, including Dame Laura Kenny, Sir Jason Kenny, Dame Sarah Storey, Britain’s most successful Paralympian, double Olympic champion Tom Pidcock, Ed Clancy, gymnast Beth Tweddle, and Steve Cram.

They are joined by leading figures from across British sport, including Sir Brendan Foster, founder of the Great North Run, Olympic medallists Laura Weightman and Marc Scott, Paralympic medallists Susie Rodgers, Krysten Coombs and Rob Davies, and a new generation of athletes such as Paris 2024 Paralympic champion Poppy Maskill, creating a broad coalition of sporting talent backing the ambition for a future Olympic and Paralympic Games in the North of England.

Their support represents the most significant athlete backing yet for the Great North Games vision and demonstrates growing momentum behind the proposal, as Government and sports governing bodies explore the feasibility of a future Olympic and Paralympic Games hosted across the North.

The support comes at a pivotal moment for the proposal. Earlier this year, Northern mayors and leaders, through The Great North, called on the Government to explore the potential for a future Olympic and Paralympic Games hosted across the North of England. Last week, the Government confirmed it would begin an initial strategic assessment into the feasibility of a future Games in the North, marking the first formal step in exploring the opportunity.

The Competition and Markets Authority has ordered ticket marketplace StubHub UK to refund customers over hidden fees.

The competitions regulator found that the firm did not show fans the total price upfront when purchasing tickets, as required by law. Instead, a mandatory fee was included later in the process. 

StubHub UK is one of the largest marketplaces allowing people to buy and sell tickets for live shows and events in the UK. 

The CMA has fined the company close to £900,000 and ordered it to issue refunds to more than 50,000 fans exceeding £590,000 for using this illegal practice, known as drip pricing. 

GlobalData Plc has announced a new share buyback programme of up to a maximum consideration of £5 million.

The purpose of the programme is to return surplus capital to shareholders and reduce the company’s share capital.  As such, all ordinary shares repurchased by the company will be cancelled.

The programme is expected to commence on 23rd June 2026.

Blackfinch Group has strengthened its senior leadership team with two strategic appointments as the business builds on its Group-wide expertise and enters its next phase of growth.

Harry Penberthy has joined as Group Head of Marketing, while Graham Robinson has been appointed Strategic Distribution Director in a new Group-wide role.

Together, they bring more than 50 years’ combined experience across investment, financial services, pensions, distribution, brand and tax-efficient investing. Their appointments strengthen how Blackfinch tells its story, builds its market presence and brings its adviser proposition to market.

Harry joins Blackfinch with more than 20 years’ experience as a senior marketing and brand leader across investment and financial services. His career includes senior roles at Octopus and Triple Point, where he worked across adviser-focused propositions, brand strategy, proposition launches and marketing delivery. He has led large, multi-disciplinary marketing teams and brings a strong record in helping investment businesses communicate clearly with the adviser market.

As Group Head of Marketing, Harry will lead the Blackfinch marketing team through its next stage of growth. His focus will include strengthening the Blackfinch brand, developing the Group’s market position and making it easier for advisers to understand the breadth of support, insight and investment solutions available across Blackfinch.

Graham joins as Strategic Distribution Director, a new Group-wide role. He brings 30 years’ experience across life assurance, pensions, platforms, asset management and tax-efficient investing. His career includes senior roles at Octopus and Seven Investment Management, where he focused on building adviser relationships, product development, distribution strategy and sales leadership.

In his new role, Graham will work closely with the senior leadership team to support the evolution of Blackfinch’s product range and strengthen distribution across the Group. He will also help connect the opportunities created by Blackfinch’s wider growth, including Thrive and future businesses developed through the Group’s in-house incubator programme.

Author: Jonathan Symcox

A tech firm backed by England captain Harry Kane has raised £20 million in fresh funding.

Kane got the Three Lions off to a flier at the 2026 World Cup with a brace as they ran out 4-2 winners against Croatia.

His focus will currently be on giving England the best chance of claiming their first World Cup since 1966 – but once the dust settles, he can also celebrate the latest achievement of Seat Unique.

Last year he joined the cap table of the events and hospitality ticketing platform alongside cricket equivalent Ben Stokes – not having a great time of it currently after sitting out the second Test against New Zealand following a nightclub fracas – and a host of other high-profile athletes.

The latest funding round is led by Nickleby Capital and sees participation from Pentland Ventures, Hearst Ventures, Active Partners and The Players Fund. It will support acquisitions, international expansion and continued growth across premium ticketing, hospitality and travel.

The investment follows the strategic acquisitions of P1 Travel and Circuit Hospitality, creating a market-leading platform that combines premium ticketing, hospitality and travel under one roof for rightsholders, venues, artists, sports teams and fans.

The group is on track to hit £175m in sales this year and is targeting more than £350m over the next three years, with ambitions to build a business valued at over £500m.

A co-founder at Onfido has raised £30 million for his AI firm Isometric.

Eamon Jubbawy is aiming to bring agentic certification to the industrial economy and has been backed by AVP, Plural and Lowercarbon Capital, as well as angels John Doerr and Walter Kortschak, in a Series A round.

AVP counts global insurer AXA as an anchor investor.

Author: Jonathan Symcox

FinTech Monevium has entered special administration.

The London firm was authorised by the Financial Conduct Authority to provide payment services.

It allowed anyone over the age of 18 living in the European Economic Area to open an IBAN account – regardless of citizenship or financial history – in minutes, without lengthy credit checks. 

Launched in 2016 and led by Alexey Stepanov, a former Thomson Reuters financial markets specialist and CEO of FXOpen UK, the firm had restrictions placed on its activities by regulator the FCA in February 2024.

On 18th June 2026, Adam Henry Stephens and Christopher Allen of S&W Partners LLP were appointed as special administrators of Monevium Ltd.

Louis Taylor is stepping down as chief executive of the British Business Bank at the end of September 2026.

Taylor has spent the last four years leading the transformation of the UK’s economic development bank and will remain as chair of BBB Investment Services Limited, the bank’s regulated third-party arm which provides investment services to clients, until the end of December 2026.

David Hourican, chief financial officer, will take on the role of interim CEO from 1st October 2026, ensuring a smooth transition. He was appointed in December 2022.

Author: Jonathan Symcox

Ocado Group plc is reportedly set to appoint a successor to co-founder and CEO Tim Steiner.

Steiner founded the company in 2000 with former Goldman Sachs colleagues Jonathan Faiman and Jason Gissing. 

Now, weeks after it unveiled a new online retail partnership with Asda, Sky News reports that Niklas Heuveldop – chief executive of Vonage, a subsidiary of Sweden’s Ericsson – has been approached about potentially taking over as CEO.

Author: Jonathan Symcox

Seedcamp, Europe’s ‘original first cheque investor’, has raised $320 million to invest in the next generation of global companies. 

Seedcamp was the earliest backer of giant companies including Revolut, Wise and Synthesia.

Since launching in 2007 with a $2.5m first fund, Seedcamp now manages over $1 billion in Assets Under Management and has delivered some of the strongest venture fund returns in Europe.

The new capital is allocated between $220m for Seedcamp VII, the flagship ‘first cheque’ fund, and $100m for the Select fund, which focuses primarily on backing portfolio winners as they scale toward Series B and beyond. 

Amazon growth specialist Venture Forge has strengthened its leadership team with the appointment of respected marketing leader Stephen Kenwright as fractional chief commercial officer.

The Halifax-based firm helps ambitious brands unlock profitable growth on the world’s largest online marketplace.

Kenwright will lead on new business and marketing, helping to shape the agency’s commercial strategy, expand its market presence and support the next stage of growth.

 

GRIDSERVE revenues topped £64 million in the 2025 calendar year after they grew 45% year-on-year.

The firm said this shows the strength and scalability of its model and the commercial viability of large-scale public electric vehicle charging in the UK ‘despite a challenging policy environment’.

The network also delivered EBITDA of £26m and a margin of 40%. At a group level, GRIDSERVE delivered EBITDA of £3m, reaching positivity for the first time.

The results come after a period of strategic and operational focus under CEO Daniel Kunkel, who joined GRIDSERVE in March 2025 from Shell and ubitricity. 

URUNN, a performance-driven running app startup co-founded by four-times Olympic gold medallist Sir Mo Farah, has announced a seven-figure fundraise.

The startup has been backed by continued investment from fitness platform 10XU alongside a group of private investors.

Following a seed round in 2025, URUNN has rapidly established itself as a challenger in the running app market, having secured users in more than 110 countries and partnerships with leading global brands including Huawei, Vodafone, Puma and Adidas. 

Co-founded by Farah and elite marathoner Adam Clarke, URUNN directly integrates Olympic-level human expertise into the product, delivering an experience that mirrors working with a professional coach, at scale, to the global everyday running market.

The app brings together elite athletes and coaches, including Farah, Clarke, and Team GB athlete and elite coach Charlotte Purdue, translating decades of performance and coaching experience into a personalised, adaptive training programme.