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Firenze raises GBP £6 million to expand Lombard lending

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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.



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Roke launches CORTEXA GUARDIAN counter-drone system

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Roke has launched its CORTEXA GUARDIAN counter-drone system, which is already being fielded by military customers in the UK and Northern Europe.

The system targets a persistent problem in counter-uncrewed aircraft operations: many existing tools require specialist operators and extensive training. CORTEXA GUARDIAN was designed so generalist soldiers can use it after training measured in days rather than months, with some users moving from receiving the kit to unsupervised operation in less than 48 hours.

The platform can detect, track and identify multiple low-cost aerial threats at the same time. Its modular design allows users to configure it for different missions and operating conditions.

Instead of relying on dedicated hardware, the interface runs in a web browser on standard devices including laptops, tablets and mobile phones. The physical set-up also avoids specialist equipment, with the system mounted on commercial camera tripods rather than military-specific masts.

That design reflects how the product was developed. Roke worked with armed forces and mission partners across the UK and Northern Europe, then refined the system in response to operational feedback rather than controlled testing alone.

Training focus

The approach is intended to reduce the burden on front-line personnel. Advanced sensing, tracking, prioritisation and classification functions run automatically in the background, leaving operators with only the information needed to make decisions.

This is significant as armed forces and public safety organisations face a growing number of incidents involving small, relatively cheap drones. Such aircraft are an increasing concern because they are easy to acquire, can be deployed quickly, and can complicate the protection of bases, troops and other sensitive sites.

The system is intended for use in layered air defence, giving commanders and operators earlier warning of threats in contested airspace. It is also aimed at dispersed units and forward operating bases where personnel may not have access to specialist counter-drone teams.

Operational use

CORTEXA GUARDIAN was first shown publicly at DSEI 2025 before moving into operational deployment. Early customers had already received and deployed units independently, which Roke described as evidence of the system’s ease of use.

The product is being marketed to government, defence and public safety organisations across NATO and Northern Europe. Border security and critical infrastructure protection are also identified as potential areas of demand.

Counter-drone technology has become a fast-moving segment of the defence market as armed forces seek systems that can keep pace with changing threats without adding major training and support burdens. Suppliers are increasingly focusing on systems that combine sensors and software in a single package and can be upgraded as new drone types and detection tools emerge.

Roke said its architecture was designed to evolve over time, allowing new sensors to be added without changing the operator experience. The company presents this as a way to keep systems usable for non-specialist personnel even as the threat picture changes.

Marc Overton, Managing Director, Roke, said: “Small unmanned systems are among the most disruptive threats facing defence and security forces today. Countering them effectively requires capability that can be integrated rapidly, adapted as threats evolve, and used by the people who need it most, not just specialists.

“CORTEXA GUARDIAN was developed to meet that requirement. It reflects close collaboration with military partners and a clear focus on operational reality. This launch marks an important step in making that capability available more widely.”



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Oxfordshire fish and chip shop up for sale after collapse

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The former premises of Wantage Chippy has been listed for £175,000 by Central Business Agency.

This follows the takeaway restaurant, which was at 26 Wallingford Street, being dissolved in October last year after it opened with some excitement on Tuesday, March 4, 2023.

READ MORE: Pub near Jeremy Clarkson’s boozer targets June reopening

Owner Ahmed Elaboussi said at its launch: “I saw the need for a fish and chip shop in what is a small old traditional English market town that is lacking a fish and chip shop.

“You can enjoy traditional fish and chips not mixed with pizza or international food or anything else.

The opening of the Wantage Chippy in 2023The opening of the Wantage Chippy in 2023 (Image: Ed Nix)

“We have been bombarded by pizza shops in Wantage. I live here, and I have seen people say a lot of negative things about how many we are getting.”

He added that Wantage Chippy would also “stand apart from other businesses because of its fresh ingredients”.

Mr Elaboussi said: “The cod is crispy battered and not soggy, and all our chips are made from scratch. We peel our own potatoes, and we don’t buy them frozen.”

In its last submitted accounts for the period ended February 28, 2025, it said it made a profit of over £8,000 although had creditors falling due within a year amounting to £8,535.

The former premises of Wantage Chippy (Image: Central Business Agency)

The initial application to strike the company off the register was received on July 15, 2025, and was formalised on October 7, 2025.

The Grade II listed property has since been stripped and is being marketed as a ‘blank canvas’.

Its listing on Rightmove states: “Central Business Agency are pleased to offer an opportunity to acquire a recently refurbished Grade II listed mixed-use property in a central Wantage location, suitable for takeaway or retail use and offered with vacant possession.

“The ground floor provides a self-contained commercial unit, presented in excellent condition and ready for immediate occupation.

READ MORE: Named ‘delivery rider’ pleads guilty after cocaine arrest in Oxfordshire town

“The property has previously been used as a takeaway and offers a strong opportunity for a new operator to establish a presence in the town (subject to any necessary consents).”

The listing adds that the first floor comprises two rooms together with shower and WC facilities and that the accommodation is best suited for use such as staff space, office or storage because access is via the commercial unit.

The listing added: “The property offers a straightforward “blank canvas” and is likely to appeal to owner-occupiers in the food sector, as well as investors.”





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Granicus names UK digital government awards winners

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Granicus has named seven winners in its annual UK Digital Government Awards, which recognise public sector teams for measurable improvements in citizen engagement, service delivery and transparency.

The winners span local government and public bodies across the UK, with projects covering transport consultations, digital permits, case processing and internal communications.

Now in its sixteenth year, the programme highlights organisations using digital tools to reshape how residents interact with public services. This year’s winning entries delivered practical results, including shorter processing times, broader public participation and lower administrative workloads.

The awards were presented across six categories, with two winners in Operational Excellence.

Winners named

Enfield Council’s Transport, Climate and Place team won the Changemaker category for increasing inclusive participation in transport and placemaking projects. Its work generated more than 115,000 platform visits and higher engagement from young and disabled residents.

North Tyneside Council’s Engagement Team took the Community Engagement award after its consultation platform increased resident representation from 153 to 2,506 participants across all 20 wards.

In Operational Excellence, Cafcass was recognised for raising internal newsletter open rates from 15% to more than 60%, supporting recruitment visibility and wider organisational performance.

Wrexham County Borough Council’s Customer Services team shared the Operational Excellence honours after cutting Blue Badge application processing times from 18 working days to seven by automating workflows from start to finish.

The Service Delivery award went to the London Borough of Tower Hamlets Digital Team. Digitising a paper-based parking permits service allowed it to process 9,200 applications, generate GBP £460,000 in online payments and save an estimated 110 staff weeks.

Wealden District Council’s Digital Services team won the Total Government Experience category for consolidating key services into a single self-service resident portal designed to meet WCAG accessibility standards, reducing demand on its contact centre.

Rhondda Cynon Taf Council’s Health Determinants Research Collaboration received the Trust and Transparency award for bringing residents into policy development and including them as voting members on recruitment panels.

Ian Roberts, UK managing director at Granicus, outlined the themes behind the awards.

“Faster services, with processing times cut from weeks to days; clearer communications, with engagement reaching thousands more residents; and stronger trust, built through more open and inclusive decision-making. Every year we see the ambition, creativity and commitment of public sector teams across the UK. This year’s winners show what is possible when digital is used with purpose. They are improving how citizens engage with services and building more transparent, responsive government. We are proud to recognise their achievements,” he said.

Measured results

Several winning projects focused on replacing manual processes with online systems. In Wrexham, shorter Blue Badge turnaround times had a direct effect on applicants waiting for a decision. In Tower Hamlets, moving parking permits online transformed a paper-led service into a digital process while delivering measurable administrative savings.

Other winners were recognised for expanding participation rather than reducing processing time. North Tyneside’s increase in consultation participants across every ward points to a broader base of input into council decisions, while Enfield focused on groups often underrepresented in planning and transport discussions.

The Trust and Transparency category reflected a different strand of digital public service work. Rhondda Cynon Taf’s award highlighted the use of resident input not only in consultation, but also in decision-making structures, including recruitment panels.

Cafcass was the only national public body among the listed winners. Its recognition for internal communications points to the role digital channels can play inside public organisations as well as in outward-facing services.

The winners were selected for demonstrable impact on citizen experience, organisational efficiency and public trust. Together, they reflect a mix of front-line service redesign, participation work and internal process change across councils and public agencies.

Granicus works with thousands of public sector organisations, and the awards draw from that customer base. This year’s winners included teams from London, Wales, north-east England and the south-east, underlining the spread of digital service projects across different parts of the public sector.

Among the clearest headline metrics were North Tyneside’s rise from 153 to 2,506 consultation participants, Wrexham’s reduction in Blue Badge processing times from 18 working days to seven, and Tower Hamlets’ handling of 9,200 permit applications alongside GBP £460,000 in online payments and an estimated saving of 110 staff weeks.



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