Klarna challenger Zilch becomes fastest-ever British unicorn November 10, 2021 London-based fintech Zilch has today closed a mammoth $110m Series C funding round and become the UK’s latest billion dollar company in record-breaking time. The round brings Zilch, whose product capitalises on the lucrative Buy Now Pay Later (BNPL) sector but in many ways resembles a credit card, to a $2bn valuation – four times [...]
Software group Aveva’s losses deepen November 10, 2021 British industrial software group Aveva said this morning its operational losses had widened to £73.4m in the first half of the year, more than triple the £20.3m it reported a year earlier. Much of this was down to gradually writing off the costs of its intangible assets, the company said, following the completion of its [...]
City Moves: Who’s switching jobs in the Square Mile today? November 10, 2021 Deloitte Deloitte has posted a new partner to its financial advisory practice, who is set to head real estate mergers and acquisitions (M&A) for the sector. Bringing 17 years experience in M&A and principal investments to the position, Abhishek Jaiswal joins the Big Four firm from Bank of America where he was a lead real [...]
Oxford Nanopore shares jump after university spinout lifts life sciences revenue forecast November 9, 2021 Shares in Oxford Nanopore surged almost 6 per cent this morning after the recently-listed biotech upped the 2022 and 2023 sales forecast for its life sciences unit, bolstered by a multimillion dollar long-term contract win in the UAE. The genomics group forecast revenue for the core unit will hit between £170m and £190m in 2023, [...]
Investments climb back to pre-pandemic levels with cash reserves playing key role January 5, 2021 Despite economic pressures and a recession looming, nearly half of corporates and large SMEs expect business investment to return to pre-crisis levels by the end of this year as business gets back to normal. According to a new survey shared exclusively with City A.M. today, just 16 per cent expect to take three years or [...]