Connect with us

Business & Technology

Firenze raises GBP £6 million to expand Lombard lending

Published

on


Firenze has raised GBP £6 million in an oversubscribed funding round led by Albion VC, with existing investors Outward VC and Form Ventures also participating.

The deal follows a GBP £2.5 million seed round completed 12 months earlier.

The London-based fintech focuses on Lombard lending, a form of borrowing secured against investment portfolios. It provides software and lending infrastructure to wealth managers, independent financial advisers, investment platforms, and banks, enabling them to offer credit to clients without requiring them to sell or transfer their assets.

Firms using its platform now represent almost GBP £200 billion in assets under management. They include Brooks Macdonald, Canaccord Wealth, Artorius, Lincoln, Cerno, Parmenion, P1 and Soderberg.

Demand for this type of borrowing has risen sharply, with the total volume of drawn facilities tripling in the first quarter. Clients are using the loans for purposes including property-related borrowing, education costs, tax planning and inter-generational wealth transfers.

Expansion plans

The new capital will be used to broaden the range of products offered through the platform, expand its software offering for banks and support entry into new markets. Firenze also plans to double its team size as borrower demand rises and more wealth managers add Lombard lending to their client services.

Firenze argues that this part of the credit market has long been dominated by private banks, limiting access for a wider pool of investors. It is targeting wealth managers and platforms that want to provide secured lending without building the underlying credit infrastructure themselves.

Some private banks are also showing interest in using their technology to manage their own Lombard lending activity, including loans against assets not held in custody by the lending institution.

David Newman, Chief Executive of Firenze, outlined the rationale for the fundraising and the choice of investor.

“The market demand for Firenze’s solution has exceeded our expectations and, as a result, our vision has become more ambitious. We therefore felt now was the right time to raise further capital to accelerate our plans. When seeking a partner for this next phase of growth, Jay and Albion stood out. I believe passion and trust are the two most important attributes when choosing a VC to work with, and Jay and Albion have demonstrated that time and again as we got to know one another. We also feel honoured by the continued support of our existing investors, who have shown growing enthusiasm for the momentum behind Firenze,” said Newman.

Investor view

Albion VC backed the company because it sees scope for broader adoption of collateral-backed borrowing in wealth management.

“Firenze has built the foundational infrastructure layer to power the next generation of collateralised credit products, starting with Lombard lending. We’re proud to support the team as they scale. Lombard lending has been one of private banking’s most powerful tools, yet the vast majority of investors have had no access to it. Firenze is democratising that access, bringing Lombard lending to the mass-affluent segment. David and the team have executed exceptionally, signing partners covering over £200bn in assets and delivering a platform that solves custody, capital and compliance challenges simultaneously. That combination of market timing and product depth gave us the conviction to lead this round,” said Jay Wilson, Partner at Albion VC.

Outward VC, which led the earlier seed round, said Firenze had expanded its commercial footprint quickly over the past year.

“When we led Firenze’s seed round, we backed David’s vision to bring Lombard lending beyond the walls of large private banks. Twelve months on, the progress has exceeded our expectations, including a five-fold increase in its partner network, a rapidly growing loan book and a SaaS proposition that’s attracting leading banks and financial institutions, as has the vision for its future. Firenze is now proving that the credit infrastructure it has built can reshape how the entire wealth industry thinks about liquidity. We’re proud to continue our support as the company enters this exciting next phase of growth,” said Andi Kazeroonian, Principal, Outward VC.

The fundraising comes as wealth managers seek new sources of credit for clients who want access to cash without liquidating investment holdings in uncertain markets. Borrowers can often access funds within 24 hours.

Firenze’s recent growth suggests lenders and wealth firms are testing whether secured portfolio lending can move beyond its traditional private banking base into the broader advised wealth market.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business & Technology

Sound Devices unveils Astral Mini Plus wireless pack

Published

on



SOFIAH NICHOLE SALIVIO

News Editor

Sound Devices has introduced the Astral Mini Plus wireless transmitter pack as part of its Astral Wireless range.

Aimed at touring, live theatre and fixed-installation work, the device keeps the compact form factor of earlier Astral transmitters while adding longer battery life, a wider tuning range and water resistance.

Astral Mini Plus offers more than eight hours of battery life and a tuning range of 169-1525 MHz. It also carries an IP67 water-resistance rating, meaning it is designed to withstand dust and temporary immersion.

Alongside the hardware launch, Sound Devices has updated the broader Astral Wireless line with V8.30 firmware. The update adds SoundBase integration to AstralComm and introduces routing changes across the range.

According to Sound Devices, the SoundBase link is intended to give audio engineers a more direct way to monitor and adjust wireless devices during RF coordination. Functions include changing frequencies, renaming transmitters and keeping key operating information visible.

Broader range

The release expands a portfolio that Sound Devices markets to sound professionals working in film, television, live events, houses of worship and education. The company designs, assembles and supports its products from its headquarters in Reedsburg, Wisconsin, and offices in Madison, Wisconsin, and Rickmansworth, UK.

The new transmitter arrives as wireless audio suppliers continue to adapt products to shifting spectrum conditions and varied venue requirements. In that context, tuning flexibility and software control have become more prominent selling points for manufacturers serving touring crews, theatre operators and systems integrators.

Sound Devices said the new model was designed to improve usability and shorten setup times. It said the updated firmware is intended to simplify operation across the Astral range by giving engineers more flexible routing options.

Matt Anderson, Chief Executive Officer at Sound Devices, commented on the launch and the software update.

“Astral Wireless is the most full-featured wireless toolkit on the market, designed to meet the ever-changing needs of a rapidly evolving RF landscape,” said Matt Anderson, Chief Executive Officer at Sound Devices.

“The launch of Astral Mini Plus, along with continued firmware development and deeper software integrations, reflects our commitment to this constant evolution and our desire to provide high-quality solutions that reflect the day-to-day realities of the most demanding RF professionals,” Anderson said.

The launch reflects a wider trend in professional audio towards combining hardware improvements with deeper software integration.

As productions become more complex and spectrum management challenges increase, manufacturers are placing greater emphasis on tools that simplify wireless coordination and device monitoring. The addition of SoundBase integration is expected to appeal to engineers managing large-scale deployments where visibility and control are critical. Extended battery life and expanded tuning capabilities may also help reduce operational interruptions in demanding live and broadcast environments.

With the latest hardware and firmware updates, Sound Devices is continuing to position Astral Wireless as a comprehensive platform for professional RF applications.



Source link

Continue Reading

Business & Technology

US fast food chain set to open its first UK restaurant

Published

on



Louisiana-born chicken brand Raising Cane’s is setting up shop on Coventry Street in the heart of London, between Piccadilly Circus and Leicester Square.

Although no official opening date has been announced, branded hoardings have now appeared at the site, signalling that the long-awaited launch is edging closer.

The chain, loved by celebrities including Snoop Dogg, Post Malone and Halle Berry, opened its first store in 1996, and as it approaches 30 years in business, is coming to the UK for the first time.

US fast food chain Raising Cane’s set to open its first UK restaurant

The chain has already developed a UK-focused menu featuring both take-out and dine-in meal options, as well as customisable chicken finger combos.

Unlike many competitors, Raising Cane’s keeps its menu simple, offering chicken fingers, crinkle-cut fries, coleslaw, Texas toast, and its signature Cane’s Sauce.

The sauce, described by fans as “next level,” is a particular point of excitement among British diners, who have shared their enthusiasm online.

One food lover wrote: “Omg I absolutely love Raising Cane’s.”

Another said: “Had this in Vegas.

“It was so good.

“Definitely on a par with Slim Chickens imo.”

A third added: “The sauce is next level.

“I will travel just for that.”

The company is reportedly exploring additional central London locations, including Oxford Circus, Paddington, South Bank, and The Strand, as well as potential drive-thru sites across Greater London.

The London restaurant will be the starting point for the brand’s wider European rollout.

US fast food chain rivalling McDonald’s coming back to UK after 17 years

Raising Cane’s is the latest in a wave of US fast-food brands expanding into the UK market.

Recent arrivals include Popeyes, while Dave’s Hot Chicken and Chick-fil-A have also announced UK expansion plans.

Chili’s Grill & Bar is also looking to come back to the UK after more than 15 years, with hopes of eventually opening more than 100 restaurants across the country.

The chain originally arrived in Britain during the 1990s and operated restaurants in places including Cambridge, Reading and London’s Canary Wharf, but by 2009, every UK branch had closed.

Now, the company is making a fresh attempt at cracking the UK market, aiming to open a flagship restaurant within the next 12 to 18 months before it aims to roll out more sites, reports Need To Know.

Industry insiders say they believe the chain could open between 85 and 100 restaurants if successful, with potential locations including London, Manchester, Birmingham, Leeds, Glasgow, and Liverpool.

The Tex-Mex chain is well-known in the US for its burgers, ribs, fajitas, and margaritas.

What US restaurant or fast food chain would you most like to see come to the UK?





Source link

Continue Reading

Business & Technology

UK firms struggle to map supply chain cyber threats

Published

on


More than eight in 10 UK cyber security and third-party risk professionals say their organisation experienced at least one supply chain cyber incident in the past year, highlighting continued gaps in supplier oversight and incident response.

Risk Ledger‘s research Every Link Matters: The State of Supply Chain Security 2026 – UK Edition found 82.4% of respondents recorded at least one supply chain incident in the previous 12 months. Almost half, at 47.2%, reported two or more. The findings suggest supply chain cyber risk remains a persistent issue for organisations across sectors, despite stronger regulatory scrutiny of operational resilience and supplier dependencies.

Risk levels

The survey of 500 UK cyber security and third-party risk management professionals found 86% ranked supply chain cyber incidents among their top three concerns for 2026.

The data also shows a gap between concern and readiness. Only 6% of respondents said they could accurately map exposure across their supplier ecosystem in under four hours after a major supply chain cyber incident. Another 45% said it would take between four and 24 hours.

More than a quarter said it would take one to three business days. A further 23% said it would take more than a week and require manual outreach to suppliers.

Those delays can limit an organisation’s ability to respond when a supplier is compromised. Teams need to know which business services, systems and processes may be exposed. They also need to understand whether risk extends deeper into the supply chain.

Slow checks

Supplier due diligence remains slow. Only 38% of respondents said their organisation could complete security due diligence for a new supplier within two weeks.

Another 34.6% said the process took three weeks or more. Within that group, 12% said it took more than one month.

Risk Ledger’s analysis points to a structural weakness in many third-party risk management processes. They often remain manual and focused on bilateral assessment between one customer and one supplier. Many still rely on bespoke questionnaires and periodic reviews.

That approach can create duplicated work for suppliers. It can also leave customers relying on information that may not reflect current security controls.

Visibility gap

Visibility beyond direct suppliers remains uneven.

Some 30% of respondents said they had full visibility into the entire chain of subcontractors contributing to important business functions. Just over half, at 50.2%, said they had high visibility into all direct subcontractors of critical third parties.

A further 16% reported only partial visibility into some fourth parties of their critical suppliers. Only 3% said they had no visibility beyond direct critical third parties.

The findings come as regulators in the UK and EU put greater emphasis on operational resilience, concentration risk and the mapping of digital dependencies. This includes closer scrutiny of subcontractors and deeper-tier relationships that support critical or important services.

“Identifying systemic risks is really important. However in most cases, only industry-level associations have enough combined resources and adequate information sharing guardrails in place to efficiently identify actual systemic risks, agree actions and, with the help of regulators, influence large players in the supply chain,” said Yohann Le Grand, Senior Security & Resilience GRC Manager, Lloyds Wealth.

Network mapping

Risk Ledger sets out a model it calls Active Supply Chain Security. It is based on standardised assessments, continuous monitoring, network visibility, collective defence and faster incident response.

The survey suggests organisations are open to more collaborative approaches. Some 42% of respondents said their organisation would be very supportive of an industry-wide model in which supplier intelligence and assurance data are shared with peers. A further 50.2% said they would be somewhat supportive.

Risk Ledger also examined three groups using its platform: 26 government organisations, 25 local authorities and 30 financial institutions.

Across the government group, the platform identified 3,240 direct third parties and 5,886 additional dependencies across shared nth parties. It also identified 1,264 potential concentration risks, including 820 at third-party level.

Of those third-party concentration risks, 224 were rated critical. Risk Ledger said this means an incident at one supplier would be likely to disrupt essential services at multiple public sector organisations.

“Risk Ledger’s Network Visualisation Tool has enabled us to efficiently identify critical risks across our supply chain, helping us address potential concentration risks before they escalate,” said Chris Phillips, Third-Party Compliance and Assurance Lead, Home Office Cyber Security (HOCS) | Governance, Risk and Compliance (GRC).

Sector exposure

The local authority group had 1,004 direct third parties and 7,659 additional dependencies across shared nth parties. Risk Ledger identified 1,240 potential concentration risks, including 364 at third-party level. Of those, 99 were rated critical.

The financial services group had 2,780 direct third parties and 6,529 additional dependencies. The platform identified 1,322 potential concentration risks, including 727 at third-party level. Of those, 288 were rated critical.

The analysis also found control weaknesses among some critical concentration risks. In the financial services group, 120 suppliers classified as critical third-party concentration risks did not have Cyber Essentials certification. Two were not using Multi-Factor Authentication to secure remote access to their network or cloud environments. Ten did not regularly test or rehearse Business Continuity and Disaster Recovery plans.

“A big challenge with third-party risk management comes down to how corporations and other organisations tackle peer-to-peer communication from within their respective siloes. We (as customers of common suppliers) need to get better at working with each other and trusting what our peers are doing. Using feedback as a form of intelligence about shared interests would allow companies to focus more time on fixing the things we really care about,” said Jay Vinda, Global CISO and Cyber Risk Engineering Lead, Mosaic Insurance.

Read full report here.



Source link

Continue Reading

Trending