Business & Technology
Round raises USD $6 million to automate finance work
Round has raised USD $6 million in seed funding in a round led by Alstin Capital.
The London fintech also launched two products, Agentic Workflow Builder and Autonomous Payroll, as it expands software that automates treasury management, payments, foreign exchange and payroll tasks for finance teams.
Backed VC and Love Ventures joined the round. Existing investor Passion Capital participated again, while about 10% of Round’s existing customers also invested, alongside angel investors including Indeed Co-Founder Paul Forster.
Round says its software is used by European businesses, including Cleo and PostHog, and that it has processed more than USD $500 million since launching its first automated workflows less than a year ago.
Manual burden
Round is targeting a finance function that still relies on people moving between accounting systems, bank portals, spreadsheets and email to complete routine work such as invoice approvals, payment runs, contractor follow-ups and reconciliations.
Its approach combines software with payment and treasury infrastructure, allowing finance teams to set rules for approvals, payment timing and cash balances while the system handles the operational steps. The platform works alongside a company’s existing banks and accounting software.
Round is ISO 27001:2022 certified and works with FCA-regulated financial partners. Transactions are logged with audit trails inside their dashboard.
The founders framed the product as a way to remove repetitive work rather than replace senior finance staff.
“Everyone’s trying to build an AI CFO. Cursor didn’t get big by replacing the CTO. It got big by doing the work which engineers didn’t want to do. We’re taking the same approach, but for finance,” said Pac O’Shea, Co-Founder, Round.
Hayyaan Ahmad, the other Co-Founder, outlined the company’s view of how finance teams are changing.
“We are building for the finance team of the future, one that understands the importance of automation to keep up with the pace of modern companies. AI tools are rapidly being deployed across the industry and finance teams do not need to be left behind,” said Ahmad.
New products
According to Round, Agentic Workflow Builder lets finance leaders describe a workflow in plain English and have the system create it for approval. Examples include funding payroll early, moving surplus cash into yield-bearing accounts and contacting contractors for missing invoices.
Once approved, those workflows can run continuously and notify staff through channels such as Slack, WhatsApp or email when intervention is needed. The feature is in early access, with selected customers testing workflows across treasury, payments and finance operations.
Autonomous Payroll is designed to automate a payroll run from start to finish. The module pulls payslips from a payroll provider, prepares the run, routes it for approval, funds it from treasury, executes payment and confirms completion.
Round argues that this removes the need for staff to switch between multiple systems or manage payroll funding manually. The pitch places it in a growing market of fintech and software providers trying to reduce administrative work inside finance departments through automation and artificial intelligence tools.
Investor view
Alstin Capital said Round’s combination of financial infrastructure and workflow software was a key attraction.
“Round understands that true finance automation requires infrastructure, not just software. The platform is positioned between banks, ERPs, and payment rails and orchestrates cash flows in real time. This is not an optimization of existing processes, but a fundamentally new way for companies to manage their finance operations. This vision and impressive execution convinced us as lead investor,” said Andreas Schenk, Partner, Alstin Capital.
The new funding will be used for product development, hiring in engineering and commercial roles, and deeper integrations with banks and financial systems. Round is based in London and was founded by O’Shea and Ahmad.
Ahmad said the latest product launch is central to that plan.
“Round’s workflow builder changes what’s possible. A finance team can describe work they do as steps, the system builds a workflow, they approve it, and it runs forever in the background. This funding lets us take that approach to every repetitive process in finance,” said Ahmad.
Business & Technology
Phoenix Software staff win Broadcom VCF Knight status
JOSEPH GABRIEL LAGONSIN
News Editor
Phoenix Software has announced that two employees have achieved Broadcom VCF Knight status, Broadcom’s highest recognition for partner professionals.
Infrastructure Practise Lead Richard Worth and Senior Technical Consultant Robert Dent both received the Broadcom VCF Knight – Storage certification, recognising expertise in VMware Cloud Foundation-related storage.
The achievement strengthens Phoenix’s position within Broadcom’s partner network, where it holds UK Pinnacle and Expert Advantage status. It also reflects continued investment by the York-based business in technical staff with specialist VMware expertise.
Broadcom’s Knight programme identifies partner specialists with experience in the architecture, design, implementation and support of Broadcom technologies. In this case, the focus was on VMware Cloud Foundation and related storage work.
The process involves several stages rather than a single exam. Candidates must pass multiple advanced technical tests, submit evidence of customer designs, deliver a live technical demonstration to a Broadcom sponsor, and then undergo nomination and review by a Broadcom panel.
The certification typically takes several months to complete and requires periodic renewal, making it a relatively rare qualification within the VMware and Broadcom partner ecosystem.
Worth has worked in IT for more than 25 years, including nine at Phoenix, where he leads the infrastructure practice. His background spans networking, storage and virtualisation, all closely tied to the technologies covered by VMware Cloud Foundation.
Dent has worked with VMware technologies for more than 20 years, beginning during an early IT apprenticeship and later implementing virtualisation environments at the University of Hull. His experience also includes servers, storage, NetApp and vSAN, and he gained his first VMware certification while working at the university.
Technical route
The certifications come as many customers reassess their VMware environments following Broadcom’s acquisition of the software business. That has increased scrutiny on partners able to demonstrate deep product knowledge and delivery experience.
Both men completed the same rigorous process to secure the designation, which Phoenix described as evidence of its ability to support organisations running complex virtualised infrastructure.
Worth said: “The difference with the Knight programme is that it recognises not just what you know, but what you’ve actually delivered. It reflects real-world experience – designing, implementing, and solving problems for customers. For me, VCF brings together everything we do across networking, storage, and virtualisation into one cohesive platform.”
Dent linked the certification to customer expectations around complex infrastructure projects.
Dent said: “This is one of the highest standards a consultant can achieve. It’s exactly the level of expertise customers expect when they’re investing in complex platforms like VMware Cloud Foundation. For me, it’s also about continuing to learn and building environments where the wider team can develop their skills.”
Phoenix operates across software licensing, hardware, software asset management and managed IT services, and has been in the market for more than 30 years. It works with public and private sector customers on IT strategy, infrastructure design, deployment and software management.
The latest certifications suggest the company is seeking to deepen specialist skills in core infrastructure areas as customers continue to assess how they manage virtualisation, storage and networking in consolidated cloud environments.
Business & Technology
Connected building systems pose growing cyber risk
Restore Information Management has warned that connected building systems are becoming a cyber security risk for organisations, with many businesses failing to secure operational technology such as building management systems, access control and CCTV.
The warning comes as attackers expand their focus beyond traditional IT to target the technology that supports day-to-day building operations. These systems are increasingly internet-connected, remotely managed and linked to cloud services, widening the number of potential entry points for attackers.
Official figures underline the scale of the issue. The latest UK Government Cyber Security Breaches Survey found that 43% of UK businesses experienced a cyber security breach or attack in the past 12 months.
David Robinson, Head of Cybersecurity at Restore Information Management, said many organisations have basic weaknesses across their operational technology environments, particularly default settings and poor access controls.
“Many building systems still rely on default credentials straight out of the box. If these credentials aren’t changed, cyber criminals can gain access to critical systems with relative ease. As today’s digital building systems become increasingly connected, remotely managed and cloud-based, they are evolving faster than many organisations can secure them. Without the right controls, attackers could disrupt critical building systems, disable physical security measures or use them as a route into the wider corporate network,” Robinson said.
Attack surface
Robinson said one of the main steps organisations should take is to establish a full inventory of connected building systems, including building management systems, access control platforms, CCTV networks and environmental controls.
In practice, that means knowing what equipment is connected to the network, who is responsible for managing it and how users, contractors and suppliers can access it. Security teams often have a clearer view of laptops, servers and business applications than of operational technology embedded in buildings, creating a gap that can persist for years.
He also highlighted the risk posed by shared and default credentials. Manufacturer-set passwords remain common across a range of connected systems, and shared accounts can make it difficult to trace activity or remove access when a staff member or contractor leaves.
Restore urged organisations to replace default credentials as soon as systems are deployed, remove shared logins and ensure each employee or contractor has an individual account. That allows access to be monitored and withdrawn when required.
Remote access
Another area of concern is remote access for suppliers and maintenance providers. Building systems often rely on outside specialists for configuration, support and servicing, but these links can remain open long after a project has ended.
Robinson said access should be formally approved, reviewed regularly and removed once work is complete or contracts expire. Dormant contractor accounts, he added, should not remain active.
The issue has become more pressing as facilities technology has become easier to access from outside a site. Remote management can help operators maintain systems across multiple buildings, but it also creates another route that needs oversight from both facilities and cyber security teams.
Network separation
Restore also called for stronger segmentation between operational technology and corporate IT environments. Separating building systems from wider business networks can limit the damage if one part of the estate is compromised.
This matters because attackers who gain access to a connected operational system may try to move laterally into more sensitive parts of the organisation. Segmenting networks can make that movement harder and reduce the impact of a breach.
Security and facilities teams should work together to review legacy environments and identify where older systems can be better isolated. In many organisations, building technology has evolved in stages over a long period, leaving a mix of old and new equipment with varying security controls.
Strategic priority
Robinson’s final point was that operational technology should no longer sit outside mainstream cyber planning. He argued that connected building systems need to be included in an organisation’s wider security strategy, with regular reviews, staff awareness and stronger security design at the point of deployment.
That view reflects a broader shift in cyber risk management as physical infrastructure becomes more digital. Systems once treated mainly as facilities assets are now part of an organisation’s connected estate and can affect both physical security and business continuity if disrupted.
Restore Information Management is one of the UK’s larger information management providers and says it works with more than 6,000 clients, including more than 80% of NHS trusts. “Cyber security is no longer confined to servers and laptops. As buildings become smarter, the systems that control them require the same level of protection as every other critical asset,” Robinson said.
Business & Technology
Prince William-backed helicopter company profits rise
Airbus Helicopters opened a new £50m headquarters and factory facilities at Oxford Airport in Yarnton.
Opened in September 2024 by Prince William, Airbus Helicopters employs around 250 people in Oxford and has room for 32 helicopters.
New accounts published by the company shows the business reported an annual profit of £10.1m in the calendar year 2025 also its first full year from Oxford.
This was up 13 per cent from £8.9m the year before.
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Airbus Helicopters said this profit was boosted by a £2.5m foreign exchange gain and was despite a drop in turnover.
“The company has now completed its first full year of operations at the new, larger hangar facility at London Oxford Airport, following the move in July 2024 and the commencement of a 25-year lease agreement,” said Yann Rozo of Airbus Helicopters in a report.
“The company would like to recognise the positive contribution of its customers, employees and other stakeholders in achieving the results of 2025 and looks to further enhance these relationships during 2026.”
Revenue for 2025 was at £138.9m compared with £158.6m the year before.
The decrease in turnover compared to the prior year has been attributed to the timing of aircraft deliveries and the expiry of a Ministry of Defence contract.
Airbus completes helicopters built in France and Germany at its Oxford site before selling on to customers including the National Police Air Service.
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