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.

Author: Jonathan Symcox

A positive mindset can be the difference between winning and losing in elite sport – and the same is true in business.

Former pro golfer Karl Gilbert represented Ireland at U18 and U21 before moving into investment banking then entrepreneurship with Raylo. The scaleup helps major brands like Apple, PlayStation, Dyson and now LG launch subscription eCommerce strategies that make devices more accessible for both businesses and consumers.

Since launching in 2019, he’s raised over £180 million from investors including Citibank, NatWest Group and Channel 4, achieving £56.5m annual recurring revenue in 2025 and 94% EBITDA growth.

But without the sport he loves, it may never have happened. “My world revolved around golf. I even played alongside a then little-known talent named Rory McIlroy,” the co-founder and CEO tells BusinessCloud. 

“It was my first real lesson in performing in a high stakes environment: how to focus, deliver under pressure and maintain composure when a round goes sideways.”

After stepping away from competitive sport, he spent a decade in investment banking. Keenly aware of the massive waste in the electronics sector, he eventually spotted a huge opportunity to re-engineer how tech is accessed – and Raylo was born. 

Author: Jonathan Symcox

The parent company of LADbible has agreed a deal potentially worth more than £34 million to acquire agency Uncovered.

The creative agency has deep TikTok and Instagram expertise, and counts the likes of Tesco, KFC and Taco Bell among its client base.

LBG Media plc said it has acquired 75% of the share capital of Uncovered Holdings Limited. It has also agreed options to acquire the remaining 25%.

The acquisition is for an initial cash consideration of £26.8m, with an earnout cash payment of up to £7m, based on the financial performance of Uncovered in the calendar years 2026 and 2027. 

It will be funded through a combination of LBG Media’s existing cash resources and a new debt facility of up to £50m with HSBC UK Bank plc. This comprises a £35m revolving credit facility and an accordion option of up to a further £15m. The facilities have a maturity of three years that expire in June 2029. 

 

Author: Chris Maguire

After 10 years at THG and THG Ingenuity,  Hannah Pym has joined Liverpool Football Club as SVP Marketing and Digital.

The role will see Pym assume responsibility for leading the club’s award-winning marketing, media, product, technology, fan services and experience teams.

She held a number of senior executive roles at THG, including chief brand officer for the group and CEO of THG Ingenuity Commerce.

During her time at the Manchester-based online retailer, she was instrumental in delivering digital growth, brand development and product innovation across multiple markets.

Prior to joining THG, Pym was the marketing manager at Apadmi.

Author: Chris Maguire

CAPSLOCK, an online cybersecurity bootcamp provider, has been acquired by mthree, an award-winning talent and training partner.

Founded in 2019, CAPSLOCK has reskilled more than 1,200 adults into cyber careers and worked with organisations across financial services, telecoms, aerospace and defence, consumer electronics, manufacturing, and media and broadcasting.

Its learners have gone on to secure roles with leading organisations including Barclays, BT, BAE Systems, Dyson and the BBC.

Lorna Armitage MBE, CEO and co-founder of CAPSLOCK, said: “CAPSLOCK was founded to remove barriers to cyber security careers and help employers access talent with the skills to make an impact.

“Joining mthree gives us the platform to take that mission further, supporting more learners and more organisations as cyber and AI risks become more complex.”

Dr Andrea Cullen MBE, co-founder of CAPSLOCK, added: “Our focus has always been on delivering practical, industry-relevant training that leads to real career outcomes.

“Becoming part of mthree allows us to build on that work and help more employers develop the cyber capability they need, whether through new talent pipelines or reskilling existing teams.”

Alex Headley, CEO of mthree, said: “Cyber security and AI are now workforce issues as much as they are technology issues. Employers in tech, banking, and the public sector cannot rely only on hiring experienced specialists from a limited pool – particularly when the skills they need are changing so quickly.

“CAPSLOCK brings deep cyber expertise, a proven training model and a clear focus on job outcomes. We already know the strength of that approach through our joint venture, and this acquisition allows us to scale it further for clients that need practical cyber and AI capability across their teams.”

Author: Jonathan Symcox

Members of the executive team at River Capital are set to leave the investment firm as the Merseyside Special Investment Fund refocuses on debt funding provision.

Three roles are understood to be at risk at River Capital, the fund manager for MSIF, a not-for-profit organisation founded in 1994 and described as a cornerstone of the small business finance ecosystem in the Liverpool City Region.

Louise Towers was recently appointed as group CEO at MSIF, which backs initiatives including River Capital, Gateway Angels and the Liverpool City Region Finance Hub.

Announcing a new strategy to help more small companies grow and create jobs across the region, MSIF said it is to expand its SME debt funding provision while opening the management of its next private equity fund – expected to be launched in the first half of 2027 – to an external tender process rather than running it in-house.

This transition will result in a ‘small number’ of River Capital’s executive team leaving the organisation.

BusinessCloud understands negotiations with the individuals in question are ‘ongoing’.

A statement said: “MSIF acknowledges their valuable contribution and wishes them well in the next stage of their careers.”

The British Business Bank has announced a cornerstone commitment of £40m to FPE Capital’s Fund IV, to support high growth smaller businesses across the UK. 

The Bank previously committed £20m to FPE’s Fund II in 2017 and this latest commitment to Fund IV forms part of a first close which surpasses the total size of the predecessor fund.

This latest commitment is made under the Bank’s growth equity strategy. This expanded mandate enables the Bank to invest in lower-mid-market private equity funds backing smaller businesses that are aligned with the Government’s eight growth-driving Industrial Strategy sectors.