Fundment, a Black-owned all-in-one tech platform for financial advisers, raised £45 million ($55.4 million) in Series C led by Highland Europe, as per Tech Funding News. The investment will scale the team, develop the product, and achieve future growth. Financial advisers are under more pressure than ever, which is why the global financial planning software market is set to amount to $18.1 billion in the next decade. For this reason, Fundment aims to create innovative solutions for financial advisers that will allow a smooth experience for their clients. “Financial advice is
Every UK Black History Month, we shine a light on Black British-owned businesses making a difference. This year’s standout is Frobelles, a UK-based dress-up game championing the beauty of afro hair. Created by mother-daughter duo Yvonne Ottley and 12-year-old Alyssa Ottley, Frobelles has over 100,000 users and recently made its debut in the US. The Birth of Frobelles The idea for Frobelles was sparked by a simple question from Alyssa, who was just six years old at the time: “Why don’t any of my game characters have Afro hair like mine?” This question
Propelle, a new investment platform tailored specifically for women, launched on September 25 with an ambitious aim: to close the UK’s gender wealth gap. The platform, founded by 40-year-old Ayesha Ofori, a former Goldman Sachs Executive Director, empowers women to invest confidently and build wealth. Closing The Gender Investment Gap During her six years at Goldman Sachs, Ofori managed over £500 million ($663 million) in client assets and saw firsthand how the investment world primarily benefited the wealthy—and predominantly men. With the UK’s gender investment gap currently standing at £1.65
The Black Founders Programme, by Digital Catapult and Sony Music UK, is back for its second year, supporting Black British entrepreneurs in creative technology. Ten new startups have joined the 2024 cohort, applying immersive technologies like virtual, augmented and mixed reality to creative industries. Supporting Black Deep Tech Innovation The initiative focuses on improving investment readiness through mentorship, knowledge sharing, and partnerships. Last year, over 80% of participants saw growth in investment readiness, securing key corporate partnerships and investor interest. This year’s cohort explores immersive technology in storytelling, music production,
Enerpoly, a cutting-edge battery technology company led by Eloisa de Castro, has opened the world’s first zinc-ion battery megafactory. This new facility, located in Rosersberg, near Stockholm, is a massive step in the global efforts to transition from reliance on fossil fuels to renewable energy. Safer, Greener Batteries Batteries are vital to the transition away from fossil fuels, but energy storage needs to increase six-fold to meet COP28 goals of tripling global renewable energy capacity by 2030. The new 6,500m² Enerpoly Production Innovation Center (EPIC) aims to produce 100 MWh of
UK-based Tech1M has secured $750,000 in pre-seed funding in a boost for the human resources (HR) technology sector. The round was led by SFC Capital, known for its recent backing of 4D Medicine and VoltShare, and Techstars. The funding also saw participation from Tech Nation, Barclays Eagle Labs, HSBC Innovation Banking, ICE Network, Vantage, 1000 Black Voices, Foundervine, and GrowLondon Global. Innovating Recruitment with AI Tech1M, founded by Tommie Edwards and Damilola Ogunmoye, is set to transform the talent acquisition landscape with its AI technology. As an alumnus of the
UK government officials have criticized Elon Musk, owner of social media platform X (formerly known as Twitter), for commenting, “civil war is inevitable” under a video of violent, far-right attacks in England. Musk’s Posts Ignite Political Reactions Hundreds have been arrested during a wave of racist, Islamophobic, and anti-immigrant violence sparked by the disinformation surrounding the murder of three young girls last Monday. False claims that the murder suspect was a Muslim asylum seeker led violent right-wing mobs to attack mosques and set fire to hotels housing asylum seekers across
London-based fintech startup Jarvis has secured £1.8 million ($2.3 million) in funding to transform retirement planning. The funding round was led by Ascension VC and Cornerstone VC, with additional participation from Tokio Marine Future Fund. This capital injection will support Jarvis’s growth and product development as it integrates with the broader ecosystem of pension-related services. Addressing The Retirement Planning Gap In today’s workforce, financial autonomy is on the rise, with the global shift towards self-employment and gig economy work has made traditional workplace benefits like pensions increasingly inaccessible. Projections indicate
The UK government has announced plans to introduce legislation requiring companies with 250 or more employees to disclose their ethnicity and disability pay gaps. This move, part of Prime Minister Keir Starmer’s agenda for the upcoming year, was unveiled by King Charles III and signals a significant shift towards greater workplace equality. Extending Equal Pay Rights The proposed race and disability equality bill will, for the first time, mandate British businesses to report on the pay disparities affecting ethnic minority and disabled workers. Previously, companies were only required to report
Wray & Nephew held their Wray Forward Pitch Night this week featuring a number of Black-owned businesses from AI music sampling to the world’s first Nigerian tapas restaurant in London. Wray Forward The Wray Forward Pitch Night saw six Black founders take to the stage to showcase their businesses and pitch to a panel of expert judges to secure grants to help their businesses grow. Part of the brand’s ongoing Wray Forward activity is in partnership with Foundervine – a program supporting Black businesses through funding, educational workshops, mentorship and
