Fleek, the innovative wholesale marketplace for second-hand fashion, has raised $20.4 million to bring the fragmented, offline second-hand clothing industry online. The Series A funding round was led by HV Capital, with participation from Andreesen Horowitz (a16z) and Y Combinator. Founders and operators from prominent technology companies like Shopify’s President (Harley Finkelstein), Depop’s ex-CEO (Maria […]
Fuel Ventures, a prominent UK-based venture capital fund, has led a £1.5 million Seed funding round in Groov, a pioneering embedded lending platform focused on bridging the $1.2 trillion funding gap faced by small and medium-sized enterprises (SMEs). Groov’s innovative Embedded Lending 2.0 platform empowers B2B SaaS providers to integrate lending solutions directly into their […]
BMW’s UK car finance division has earmarked more than £70 million to address potential customer compensation claims over controversial motor finance commissions, adding to the nearly £680 million set aside by lenders as the industry braces for mounting liabilities. The German car manufacturer’s provision is part of a wider response to recent regulatory scrutiny and […]
More than five years after the onset of the pandemic, remote working remains a central part of UK work culture. According to recent data from the Office for National Statistics (ONS), 41% of the British workforce now works from home at least part of the week, with 28% following a hybrid model and 13% working […]
The Financial Conduct Authority (FCA) has fined Metro Bank £16.6 million for failing to implement adequate systems to monitor money laundering risks, impacting over 60 million transactions valued at more than £51 billion. The lapses, occurring between June 2016 and December 2020, reveal serious deficiencies in Metro’s financial crime prevention controls. Metro Bank introduced automated […]
UK wage growth has slowed to its lowest rate in more than two years, while unemployment rose to 4.3% in the three months to September, according to new figures from the Office for National Statistics (ONS). The data, which reveals a mixed outlook for the labour market, has dampened expectations of another interest rate cut […]
Anthony Scaramucci, former White House communications director and co-host of The Rest is Politics US, has expressed concerns over the implications of Donald Trump’s recent election victory for UK-US trade relations. Speaking exclusively to Business Matters, Scaramucci reflected on the potential challenges that British small and medium-sized enterprises (SMEs) might face under Trump’s renewed leadership. […]
The UK hair salon industry faces an uncertain future, with two in five salons at risk of closure due to rising employment costs outlined in last month’s budget. Industry leaders, including Carla Whelan, CEO of the Regis and Supercuts salon group, have voiced concerns over the “devastating” impact of increased employer national insurance contributions, which […]
Labour’s 20% VAT on private school fees, set to begin in January, is already prompting a shift from the independent to state sector, with over 3,000 privately educated students applying to state schools between June and September. The policy, announced by Chancellor Rachel Reeves in the Budget, will add an estimated £2,000 per pupil to […]
Maybe you’ve heard the term “cloud solutions” tossed around, but you’re not sure where to start. Don’t worry—you’re not alone! Cloud solutions can seem a bit overwhelming, especially for small to medium enterprises (SMEs) on a budget. But what if there was an affordable and flexible way to store your data safely without breaking the […]