UK credit technology company Abound has passed £1 billion in total lending volume, less than five years after launching.

The London-based FinTech uses open banking and AI to analyse customers’ bank transactions in real time. This provides a more accurate view of affordability compared to traditional credit scores, which often rely on statistical averages and limited data.

For the year to February 2025, Abound reported £8m in net profit.

The Royal Bank of Scotland (RBS) has revealed plans to launch the first IP-backed loans for high growth businesses in Scotland – allowing them to access vital funding using the value of their Intellectual Property as collateral, instead of traditional physical assets.

It follows a change in Scottish law earlier this year whereby the Moveable Transactions (Scotland) Act 2023 took effect, giving lenders the ability to accept effective security over IP rights.

Next year, loans ranging from £250,000 up to £10 million, will improve the funding pipeline for high-growth Scottish businesses who, because of their lack of fixed assets, often find it difficult to secure funding to drive their growth.

RBS’ parent NatWest Group launched IP-backed loans in 2024 under its NatWest brand and has already agreed to lend high growth businesses in England and Wales in excess of £22m total funding. These include companies specialising in cloud-based software services, smart system technology, state of the art engineering and AI gaming platforms.

Yorkshire tech firm SmartSearch has agreed a deal to acquire Credas Technologies, a Cardiff-based provider of identity verification solutions for the legal and property sectors. 

SmartSearch, based in Ilkley, West Yorkshire, says the strategic acquisition enhances its position as one of the UK’s foremost digital Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance platforms.

The deal is subject to regulatory approval.

Invigilator, a South African-founded remote assessment platform, has raised $11 million in international equity funding to advance its expansion in both the UK and the US.

Founded in 2020, Invigilator’s platform is already used by more than 100 institutions worldwide, supporting over 850,000 registered students and processing more than six million results across 75,000 assessments.

The capital will fund Invigilator’s UK launch, scale its US presence, strengthen product development (including multilingual capabilities), and build commercial and support teams to partner with universities, awarding organisations, and professional bodies.

Its secure, data-light architecture combines mobile and PC proctoring with live AI monitoring, AI assistance detection, identity verification, configurable authentication, and anti-plagiarism tools – all designed to protect assessment integrity while remaining inclusive and accessible.

Lavasource, a provider of business transformation services across HR, payroll and technology, has opened a new office in Delaware.

The company, based at Sci-Tech Daresbury in the Liverpool City Region, is making a strategic investment in ‘one of the most dynamic HR and technology markets in the world’.

Lavasource, which claims to host the world’s largest dedicated talent marketplace for HR and HR tech, has delivered large-scale transformation projects in more than 70 countries, supporting clients across a diverse range of industries.

Digital agency Space 48 has rebranded as Glass Atlas.

The Manchester-based firm was backed by Foresight in 2021 and has grown since from 45 people to 180, with client numbers climbing from 40 to 140 and revenues from £4 million to over £16m as it acquired Brave the Skies, Bring Digital, and This is Digital, creating the Dark Matter Commerce collective in 2024.

Its clients include leading retailers such as Footasylum, Richer Sounds, American Golf, GoShorty, The Grafton Group, and RNIB.

Glass Atlas – a rebrand which also takes in all the sister companies – is targeting revenues exceeding £20m through strong organic growth and strategic M&A.

Specialist analytics and risk consultancy 4most has appointed Liam McLaughlin, formerly a partner at EY, as head of clients and markets.

In the newly created role, he will lead client engagement and support 4most’s international expansion across the UK, Europe, the Middle East and beyond.

McLaughlin brings more than 20 years of leadership experience in financial services consulting, with senior roles at EY, Deloitte and IBM. He has led large-scale transformation programmes and advised top-tier banks, insurers and capital markets businesses on complex challenges.

The Digital Pathfinders programme, delivered by Sunderland Software City and funded by the North East Combined Authority, has expanded south of the Tyne.

It will now offer fully funded digital support to SMEs, charities and social enterprises in Durham, Gateshead, Sunderland and South Tyneside — helping more organisations adopt technology, boost productivity and future-proof their operations.

The programme, currently serving Newcastle, North Tyneside and Northumberland, has supported more than 450 organisations since 2020, creating 40 jobs.

Free one-to-one sessions and workshops on AI, website development and digital marketing are available until March 2026.

Law firm Pinsent Masons is moving its Manchester offices to One St Michael’s.

Partner and head of Manchester office Neil Black said: “This move isn’t just about a new address, it’s about ambition.

“No.1 St Michael’s represents our commitment to Manchester’s future, to our people, and to the clients and communities we work with.

“We’re proud to contribute to the energy and innovation that define Manchester, and we’re excited to continue building meaningful relationships and impactful work in a place that inspires us every day.”

UniHomes secures strategic funding from Macquarie as LDC invests again

Published: October 7, 2025 at 11:00 am

Author: Jonathan Symcox

Student accommodation platform UniHomes has secured strategic investment from Macquarie Capital.

Private equity investor LDC is also reinvesting in the Sheffield business following a two-year partnership.

Since its formation in 2015, UniHomes has established itself as a marketplace for bills-inclusive accommodation, helping hundreds of thousands of students find somewhere to live. This letting season will see UniHomes partner with 1,000+ letting agents and operators, covering 60+ locations across the UK.

The investment will accelerate expansion to other markets including purpose-built student accommodation, build-to-rent and professional sharers.

Atombit, described as a fast-growth pan-European leader in experience intelligence spanning customer and employee experience, data analytics and AI, has made a fourth strategic acquisition since investment from Palatine in May.

The latest deal is for Omega3C, a 35-strong consultancy based in Milan, Italy, specialising in customer and employee experience transformation.

Led by Corrado Pelligra, Omega3C will continue to operate as a wholly owned subsidiary of Atombit.

Can Revolut really justify a £55bn IPO valuation?

Published: October 7, 2025 at 9:39 am

Author: Max Thomas, partner, TBP Global Assets

Revolut’s recent valuation surge to $75 billion raises critical questions about its sustainability – especially as it prepares for an IPO.

“While its projected revenue for 2025 stands at $5.3bn, this results in an elevated EV/Revenue multiple of 14.2x, significantly higher than peers like NuBank and SoFi, which average around 10.1x.

“To justify and sustain this lofty valuation, Revolut must focus on several key areas.”

Virtualstock snapped up by US rival

Published: October 7, 2025 at 9:13 am

Author: Jonathan Symcox

Virtualstock, Europe’s largest dropshipping platform, has been acquired by a US rival.

Private equity-backed Logicbroker has completed a deal for Reading-headquartered Virtualstock, which was established in 2004 and processes more than eight million orders annually with a GMV (gross merchandise volume) of more than £2 billion.

Virtualstock’s dropship and curated marketplace platform powers online commerce for retailers including Aldi, Argos, B&Q, Currys and John Lewis. Its Supplier Hub also connects suppliers directly with buyers at major retailers.

The combined company will form one of the largest international dropship supplier networks. 

Ben Stokes & Jofra Archer invest in medical travel disrupter

Published: October 7, 2025 at 8:31 am

Author: Jonathan Symcox

England cricket stars Ben Stokes & Jofra Archer have joined India’s KL Rahul in investing in a medical travel disrupter.

The Medical Travel Company says it is seeking to close a critical gap in patient access as it launches the world’s first post-surgery insurance, protecting patients after returning home from treatment in India.

Stokes, Archer and Rahul’s investment company 4CAST has joined global VC Nexus Venture Partners in a €3.8 million raise.

Manufacturing at Jaguar Land Rover’s Wolverhampton engine plant has resumed following the cyberattack which suspended production for over a month.

The attack targeted its IT systems and also stopped production at factories in Merseyside and Solihull.

JLR said it had initiated a “controlled, phased restart of operations”.

The maker of ChatGPT is partnering with major companies including Spotify, Zillow and Mattel as part of its bid to transform the generative AI tool into a central portal where users can access a broader range of services.

Engineers at its developer conference in San Francisco demonstrated how they can now plug into ChatGPT in new ways, such as asking the tool to build a playlist in Spotify.

CEO Sam Altman also told the event that “you should expect a huge focus from us on really leaning into enterprise”.

Inspiration Healthcare Group plc has reported positive half-year results.

The global medical technology company said group revenue topped £24m for the six months ended 31st July 2025, up 41% on the prior year.

Adjusted EBITDA profit was £1.3m, compared to a loss of £900,000.

Inspiration said it executed the two biggest export contracts in the group’s history during the period.

Insig AI plc, a provider of AI-led analytics and machine learning solutions, has raised £500k in a share placing following receipt of an unsolicited offer of equity investment.

The proceeds will be used to bolster its sales activities and the continuing evaluation of the company’s strategic options, including the potential establishment of a fund dedicated to investments in digital assets and related enterprises.

Insig also reported revenues of £421k for the six months to 30th September 2025, more than 155% ahead of the equivalent period last year (£165k).

Made Tech Group plc, a provider of digital, data, and technology services to the UK public sector, has announced that Neil Elton has mutually agreed to step down from his role as chief financial officer following his decision to leave the business to pursue other career opportunities.

He has a six-month notice period and will assist the board during this period to enable an orderly handover until a successor has been appointed.

Listed company capAI has incorporated a subsidiary in the United States to advance AI-driven medical and longevity initiatives there.

The incorporation of capMedical Inc in the State of Delaware ‘marks a new operational milestone’, it says, as the company initiates its capMedical division.

capAI incubates and invents AI systems focusing on media and medicine through an alliance with R42, based in Silicon Valley.

Today the company has also renamed its two UK subsidiaries: capMedia (UK) Ltd and capMedical (UK) Ltd.