The UK wants more African companies to choose London when raising money on the stock market, a British trade official told Semafor. Tracey Austin, a senior director at the Department for Business and Trade (DBT), said attracting more African IPOs has become a top priority. “The UK is trying to be more inventive to sell London as a financial services center from where companies can attract global capital, not just a place to do business in and leave,” Austin said. African Companies Are Already Raising Billions in London Between 2010
UK lawmakers are being urged to pass legislation that would protect whistleblowers who expose employers violating DEI laws, as reported by The Guardian. The proposal was made by the Black Equity Organisation (BEO), a civil rights group, as it awaits the publication of the Equality, Race and Disability Bill, which is expected later this year. If the bill comes into effect, employers with over 250 staff workers would be obligated to show whether white and non-disabled staff are paid more than Black, minority ethnic, and disabled employees. It would also
Live facial recognition (LFR) technology will be deployed at Notting Hill Carnival, London’s Metropolitan Police has announced. Police will use LFR cameras to scan for individuals marked as being wanted on the Police National Computer and carry out “pre-emptive intelligence-led arrests and searches” of people believed to have weapons or sell drugs. Facial recognition at Notting Hill Carnival Facial recognition is part of the Metropolitan Police’s plan to cut crime at this year’s carnival. The cameras will be placed on the way to and from the event, The Independent reports. Deputy Assistant
The British Business Bank (BBB), the UK Government’s economic development bank, has announced a new £500 million ($674 million) economic package to back diverse and emerging fund managers. The initiative aims to address the significant gap in venture capital investment for underrepresented founders and investors, which is often attributed to industry biases, closed networks, and limited diversity among investors. Investing in women-led funds Investing in female and ethnic minority-led businesses could add 13% to the value of the UK equity market, according to the 2025 The Investing in Women Code report. Additionally,
A group of British Caribbean professionals has launched the Caribbean Tech Collective, an initiative designed to bring together Caribbean founders, professionals, and investors in the tech industry, according to The Voice. The Caribbean Tech Community Only 4% of people in the tech industry identify as Black in the UK, with Africans making up a significant amount of that number. The Voice reported that tech startups receive under 0.1% of global venture capital funding in the Caribbean. In 2023, venture capital investment in Caribbean tech just reached $215 million, and there
Ankor AI, a startup founded by Kyle Rowley, has just raised $1.3 million in a pre-seed funding round led by Upfin, according to Tech Funding News. Juni, Pleo, Moss, and Klarna also participated in the funding round. Former basketball player Rowley founded the Swedish fintech company after spending four years working with different finance teams. During this time, he observed the challenges of accessing financial data, particularly for e-commerce brands seeking credit or a precise cash flow. “I met smart operators who knew exactly what needed to be done, but
LemFi, a Nigerian-founded fintech company based in California, has acquired Pillar, a London-based startup focused on providing credit access to immigrants. Speaking to Semafor, LemFi CEO Ridwan Olalere confirmed that the deal was finalized in May. He said the acquisition will pave the way for LemFi to launch a credit card feature within its app. The financial terms of the deal were not disclosed by either company. LemFi acquires Pillar Ashutosh Bhatt and Adam Lewis founded Pillar in 2021, after both working at Revoult. It raised £13 million less than
London-based startup Definely, a legal tech company, has raised $30 million in a Series B funding round to help lawyers streamline their work with the aid of AI. Paris-based VC firm Revaia led the funding round, with participation from Alumni Ventures, Beacon Capital, Clio, Octopus Ventures, Zrosk Investment Management, The Raine Group, and Cornerstone VC, according to Vest Bee. “We are proud to lead Definely’s Series B and support a company that is setting the standard for AI-powered legal technology,” Morgan Kessous, Partner at Revaia, said. What is Definely? Founded by
References to DEI on annual reports of FTSE 100 companies in the UK have declined, according to The Observer. Mentions of DEI, as well as the number of pages containing the phrase and revisions on it, fell by more than 16% compared to the annual reports for 85 companies in 2023 and 2024. While references to environmental, social, and governance (ESG) and revisions on the term decreased by 22%, the data points to influence from the US after President Trump revoked a six-decade-old executive order that prohibited workplace discrimination by
Construction tech startup Litehaus has raised €1.46 million ($1.58 million) in a pre-seed round co-led by Cornerstone VC and Explorer Fund. Claster Group and angel investor Pascal Levy also participated in the pre-seed round. The fund will help simplify the home-building process in Europe. Husband-and-wife duo Thibault and Simi Launay set out to buy a house in Portugal nearly five years ago. However, they faced a 14-month delay, 20% budget overruns, and mismanagement involving over 10 subcontractors. “We realized if we’re struggling with this, so are millions of others,” Thibault told
