A FinTech company backed early on by Rio Ferdinand has raised £38 million in Series B funding.

Sokin, which was unveiled as the club’s official global business payment solutions partner in August, has been valued at $300 million by the investment deal.

Prysm Capital led investment in the profitable business payments company, which saw revenues increase 100% year-on-year and is up 8x since 2022. It will be used to expand globally.

Author: Jonathan Symcox

Steven Bartlett is reported to be preparing to launch a tech news website this month.

The Dragons’ Den star is behind Founded, reports City AM, and will cover companies in the UK and US.

He is said to be recruiting 10 journalists as well as an editor-in-chief for the publication.

The Founded.com website has been taken down for now – with only a holding page visible – but a preview of the link highlights its potential future direction.

It could be the missing piece in the business empire of the entrepreneur, who has hosted hit podcast Diary of a CEO since 2017.

But as an investor in around 60 businesses, will coverage on Founded be truly independent?

The biggest risers on the FTSE 100 and 250 so far today are Plus500 (+5.36%), Hochschild Mining (+5.11%), Greggs (+4.62%), HICL Infrastructure (+4.06%) and Atalaya Mining (+3.24%), while Molten Ventures (-6.27%), PPHE Hotel Group (-4.15%), TRIG (-3.64%), Investec (-3.48%) and Baltic Classifieds (-3.38%) led the fallers. 

HICL climbed after it and TRIG formally abandoned their proposed £5.3 billion merger following a shareholder revolt, removing a deal that had faced heavy investor opposition and prompting a relief rally in HICL. 

TRIG (-3.64%) moved the other way for the same reason, with the market reacting negatively to the collapse of a consolidation plan that was expected to improve scale and liquidity for the company.

Plus500’s share price has risen because of its new role as a clearing partner for CME and FanDuel’s platform, along with its strategic share buyback programme.

Baltic Classifieds extended its recent weakness after JPMorgan downgraded the stock to “underweight” and cut its price target last week.

Hochschild Mining rose in line with a precious-metals miner rally driven by a stronger gold/silver backdrop and rate-cut expectations.

Atalaya Mining rose too, helped by stronger copper prices that have lifted copper-focused miners.

PPHE slipped despite its strategic review/formal sale process being under way. 

Other significant fallers include IP Group (-2.94%), Paypoint (-2.56%), WPP (-2.7%) and BT (-2.35%).

Author: Oliver Clayden, founder, Bizcardy

If you had met me in my first year of university, you would have found a perfectly ordinary student – half-awake in lectures – but two years later I found myself in the entrepreneurship hub, convinced I was the next Jeff Bezos or Mark Zuckerberg.

The only thing missing was a turtleneck!

That was the day I discovered that attention to detail is not just an optional life skill. It is vital, especially when you are trying to build a business while also working through a degree in a maths-based subject.

So what went wrong – and what have I learned since?

Author: Chris Maguire

Steven McKiernan has started his new role as chief financial officer of THG Ingenuity.

McKiernan was previously the CFO of fashion brand Arne and has also held roles as chief operating officer of Bruntwood and chief commercial officer of Missguided.

Writing on LinkedIn, McKiernan said: “I’m excited, and proud, to start the next part of my career today as CFO at THG Ingenuity.

“I’ve been an admirer of THG from the outside ever since I left in 2013, so returning now in this role feels like a full circle moment.

“Earlier this year, after 2.5 years with Arne, I made the decision to resign and take on my biggest role yet.

“My time at Arne was incredibly rewarding, and we achieved a lot together.”

He said his highlights at Arne included triple digit revenue, profit and cash growth; a warehouse move to 3PL (THG ingenuity); and a move to a new HQ.

McKiernan added: “In essence, we built a structure and solid foundations for Arne to continue on its growth journey without worrying about the ‘back end’ of the business.”

Earlier this year THG Ingenuity, which is the tech arm of THG, demerged from THG Beauty and THG Nutrition.

More than 200 Revolut employees have now become millionaires thanks to the FinTech’s recent $75bn valuation, according to reports.

Analysis from Sifted showed that 239 former and current employees own shares worth over $1m – while 20 own shares worth over $10m.

Sifted said the actual number is likely to be far higher, as Companies House data only shows individuals that have exercised their shares.

Vulse, a LinkedIn-focused B2B marketing platform, has announced a record-breaking year and quarter, capped off by a major new contract win with KERV Capital, a leading private equity and advisory firm.

The announcement follows a year of significant momentum for the company, including +134% year-on-year revenue growth and a threefold increase in enterprise clients across 2025.

The deal with KERV Capital marks another milestone in Vulse’s rapid expansion across the B2B market, following recent partnerships with Be Broadcast, Ripple Research, and DriveSimple.

Founded in Manchester and a partner of LinkedIn since 2019, Vulse helps companies transform how their teams create and distribute high-impact LinkedIn content through streamlined workflows, smart insights and brand consistency tools.

Surrey firm Northamber has acquited Nuvias UC’s hardware business for £7.1 million, a move that it says will accelerate its growth in the fast-evolving audiovisual and unified communications markets.

Nuvias supplies UC hardware, video collaboration systems and enterprise voice products to more than 700 UK customers.

The acquisition of the £28.8m hardware revenue business delivers greater depth across Microsoft Teams and Zoom-certified video systems, enterprise voice and telephony, specialist UC endpoints, and smart workspace and meeting-room solutions, Northamber says.

ClearBank has appointed Angela Roberts as Group General Counsel.

Roberts will lead legal and governance functions at the technology firm behind real-time clearing and embedded banking solutions.

She brings over 20 years of legal and regulatory expertise, having held senior roles at private equity-backed companies as well as leading Fortune 500 and FTSE 100 firms. She has also served as a working group chair of the FCA Financial Services Consumer Panel, providing advice and challenge to the FCA on policy development and how it acts in the interests of consumers and small businesses.

Bristol-based Wanda Health has appointed Michael Steel as its new chair, less than four months after it raised £1.9 million in investment. 

Steel brings a combination of operational leadership, board experience and healthcare scale-up expertise. 

He founded Greenbrook Healthcare, a provider of urgent care services to the NHS, growing it into a £40m+ revenue organisation employing more than 700 staff before its acquisition by Totally plc, where he went on to serve as COO and board member.

He has chaired and advised several health-tech startups, including serving as a non-executive director and now chair of DemDx over the past three years.

Steel is also an active angel investor in UK HealthTech and early-stage companies. 

Earlier in his career, he held senior roles in global strategy consulting, including as a Partner at Roland Berger and previously at Booz Allen & Hamilton. 

He also co-founded a 30-person advisory firm that was successfully sold to Roland Berger.

As chair at Wanda Health, Steel will work closely with the leadership team to advance the company’s commercial execution, accelerate strategic partnerships and support the rollout of its platform. 

Wanda has built an intelligent platform for remote patient monitoring and virtual care.

Private equity firm Perwyn has agreed to exit its holding in Manchester-based technology firm Interact Software.

Interact provides a SaaS platform that helps organisations to facilitate internal communication, foster knowledge sharing and boost employee engagement. 

During Perwyn’s investment period, the company has grown ARR and EBITDA by more than 2.5x and serves a broad range of blue-chip customers across North America, EMEA and the Middle East, with its largest markets being the US and the UK.

Derby-based Resonate Group has appointed Carmen Hula as its new CFO to support the company’s next phase of sustainable growth and innovation in digital rail technology.

In her new role, Hula will oversee the company’s financial strategy and operations, driving efficiencies and supporting strategic investment as the business continues to expand its presence across the UK.

She has advised and supported organisations across all stages of growth, from startups to global banks, including PrePay Solutions, HSBC and 101 Ways.

A listed regenerative medical devices company has secured emergency funding to make November payroll and remain solvent.

Tissue Regenix Group plc secured an emergency overdraft of $500,000 from MidCap, its existing lender.

“The company remains in dialogue with its major shareholders with respect to its short- and medium-term funding requirement and expects to provide a further update and post a circular to shareholders later this week,” it said.

Author: Chris Maguire

A Dragons’ Den-backed debit card and app for adults who need help managing their everyday money is looking for £400k to close out its fundraise.

Sibstar’s co-founder and CEO Jayne Sibley took her pitch to Dragons’ Den last year and secured £125,000 in funding from Deborah Meaden and Sara Davies MBE.

Sibstar empowers financial independence with a debit card and app to safely manage everyday spending. Originally aimed at people with dementia it’s now expanded to include other vulnerable adults.

That includes those with learning disabilities and mental health conditions as well as adults at risk of financial abuse or in addiction recovery.

Sibley said: “We’ve raised before from HNW, industry leading Angels and friends of course. This final £400k unlocks everything.

“Want in? Let’s talk. Email me at jayne@sibstar.co.uk. We know what makes Dragons invest. What makes you invest?”

Sara Davies threw her weight behind Sibstar. “If you want to back a founder who’s solving real problems for real people and not just chasing the next trend then this is your chance,” wrote the ex-Dragon.  “Sometimes the best investments aren’t the flashiest. They’re the ones that matter.”

 

 

Sarah Matthews-DeMers has taken over as CEO of AB Dynamics, as planned, succeeding James Routh.

Routh will take the reins at fellow listed firm Victrex from the beginning of 2026. 

AB Dynamics is a designer, manufacturer and supplier of advanced testing, simulation and measurement products to the global transport market.

Today it has also announced a €9.7m contract win by subsidiary Ansible Motion to supply its ‘driver in the loop’ simulators to a major European OEM (original equipment manufacturer).

Author: Chris Maguire

Big news at Alvarez & Marsal (A&M) with the launch of a new Public Company Advisory group and the appointment of Jamie Peel as a senior director in Manchester.

In his new role, Peel will focus on establishing A&M’s public company advisory capability globally, addressing a gap in the mid-market for independent public company advisory services.

Peel is the first member of the new group, with additional senior hires expected in due course.

He joins from PwC where he was a director in the M&A team. Prior to this, Peel was an investment banking director at Zeus Capital, where he worked for 12 years.

Jonathan Boyers, managing director, and head of corporate finance EMEA, said: “The launch of our Public Company Advisory group marks an important milestone in the continued growth of A&M’s corporate finance practice.

“We see significant opportunity to support clients in this underserved part of the market, which will be a key growth driver for the wider business.

“Jamie’s deep expertise and experience in public company advisory will be instrumental in expanding our capability globally.

“I look forward to working closely with Jamie as we build out the team and drive the next phase of our expansion.”

 

Ofcom has fined Virgin Media £23.8 million after it disconnected telecare customers during its programme to migrate customers from a copper-based traditional phone network to digital landlines.

Migration of customers with telecare alarms must be undertaken with appropriate care and tailored support, as any disruption to their device’s connection could have material impacts on their safety.

Virgin Media notified Ofcom about a number of serious incidents related to the migration of telecare customers in November and December 2023. Its subsequent investigation ‘uncovered serious systemic failures in Virgin Media’s migration process’.

Virgin Media failed properly to identify and record the status of telecare customers, it said, with many affected customers not receiving the appropriate level of tailored support through the migration process.

It also found that Virgin Media’s approach to disconnecting Telecare customers who did not engage in the migration process, despite being aware of the risks posed, ‘put thousands of vulnerable customers at a direct risk of harm and prevented their devices from connecting to alarm monitoring centres while the disconnection was in place’.

 Versarien plc, an advanced engineering materials group, has resolved to serve a notice of intention to appoint Leonard Curtis as administrators.

This will protect the company against any creditor enforcement action for a period of 10 working days and allow secured creditors, if they so wish, to appoint an alternative administrator.

Versarien says a rescue deal may still be completed in this timeframe, which would avoid administration.

Consequently, the company has requested a suspension in the trading of its ordinary shares on London’s junior AIM market.

Non-executive directors Sir Iain Gray CBE, Diane Savory OBE and Susan Bowen have resigned with immediate effect.

Author: Chris Maguire

Actor Reece Douglas has provided a heartbreaking update after the death of his ‘legendary’ father Denis.

After finding TV fame on Waterloo Road, Douglas turned to tech and founded Manchester-based social media agency Social Plug before becoming a founding partner at Faraday Labs AI.

Writing on LinkedIn, he said: “Many of you have noticed my absence over the past month. I need to share why.

“On October 23rd, I lost my father, Denis Douglas. He made the decision to leave us, and while I found him at peace, my world has been forever changed.

“I had rushed home to be with him as he asked, but shortly after I realised it was too late. As his son, I’ve been handling his affairs and honouring his wishes during this impossible time.

“My Dad was a Manchester legend – from his days as a bouncer to running the beloved Dougy’s Takeaway on Great Western Street.

“He was a man who found faith in his later years despite facing persecution for it. He was complex, brilliant, and deeply loved.

“To my colleagues and connections waiting for updates on our AI developments – they’re coming soon.

“My friend and I have achieved something special, and I’ll share it when the time is right.

“For now, I’m focused on laying my father to rest with the dignity he deserves. I love you dad.”

 

Microlise Group to cut workforce as global sales hit.

Revealing the 2025 FinTech 50 – true finance trailblazers from across the UK.

boohoo cuts losses but revenue drops amid pivot.

‘Innovate UK scheme is an insolvency accelerator’.

What did Rachel Reeves’ Budget mean for business & tech?

Lindsey Burrow caps glorious night at 2025 Northern Leaders.

Monzo founder appointed by Government.

FTSE firm ‘in wind-down mode’ sees shares dip upon Arqiva news.

Tom Winnifrith v Amazing AI plc: Bizarre dispute heads towards legal action.

S4 Capital issues stock market warning as revenues fall. 

Versarien sale collapses as administration looms.