British Business Investments (BBI), a commercial subsidiary of the British Business Bank, has announced a new £15m Tier 2 capital facility to specialist bank, PCF Bank.

Life has gone full-circle for technology venture investment specialist Mike Bakewell who has joined the Development Bank of Wales.

CorrosionRADAR, a Midlands business that has found a way to detect corrosion and prevent leaks in assets such as pipelines through a network of remote sensors, has completed a £1m funding round from the MEIF Proof of Concept & Early Stage Fund.

A spin-out from Cranfield University, CorrosionRADAR addresses the challenge of how to detect corrosion in pipelines and other assets where the surface is covered by insulation. The firm uses a network of sensors placed on the pipe to continuously monitor its condition and detect problem areas, along with advanced analytics and artificial intelligence to predict where faults are likely to occur. The system allows facilities managers to focus their resources most effectively and helps prevent leaks.

AlbionVC, the technology investment arm of Albion Capital, has appointed Jessica Bartos as an investment manager.

Next month’s flagship innovation conference, VentureFest North East will bring over 800 businesses together to hear from a wealth of leading innovators who will inspire delegates through a series of talks and workshops, as well as encouraging them to form new connections and work collaboratively.

Midlands Engine Investment Fund Debt Finance, managed by Maven Capital Partners, has provided Sleaford Building Services Limited, one of the largest independent Mechanical and Electrical Contractors in the East Midlands, with a £750,000 funding package.

TotallyMoney has announced new growth funding from Silicon Valley Bank that will provide the credit experts with an additional £5 million to accelerate customer acquisition, recruitment, and develop its award-winning and market-leading technology platform.  The latest funding follows a substantial £29 million investment from Scottish Equity Partners (SEP) and Elliott Advisors (UK) Limited (Elliott), announced in December 2018.

Keith Morgan has announced that he will be standing down from the role of Chief Executive of the Government-owned British Business Bank at the end of 2020 after eight years at the helm of the UK’s economic development bank for smaller businesses.

A Cardiff-based business owner has been able to revamp his hair salon and expand chair rental opportunities for other stylists thanks to a micro loan from the Development Bank of Wales.

va-Q-tec AG, the pioneer in highly efficient vacuum insulation products and solutions in the thermal insulation and TempChain logistics has announced that the company’s founder and CEO is recognized for two renowned competitions as Entrepreneur of the Year. 

NatWest’s asset finance arm, Lombard, has launched a new digital service that allows businesses to receive instant agreement to fund assets such as cars, vans, machinery and technology, up to a maximum of £250,000.

New research ⁽¹⁾ from Nucoro, a B2B fintech providing Wealth Management as a Service solutions, reveals wealth managers estimate that only 55% of companies in the sector will still be around in 10 years’ time - if they fail or choose not to innovate digitally.