Gbenga Ajayi

In 2024, early-stage rounds made up a third of all UK VC deals, with seed rounds averaging £4.1 million and Series A at £17.9 million – the highest since 2021. But every successful fundraising journey starts with one critical document: the term sheet. Every term sheet is essentially a negotiation – but only if you know what to look for. 📄 In this latest article, Jas Bhogal highlights the red flags founders should look out for, including: 🚩 Loan terms that seem 'standard' but carry costly strings 🚩 Valuations that flatter upfront but erode long-term value 🚩 Giving away too much equity too early 🚩 Fundraising restrictions that limit future growth Read the full article linked below to understand how to protect your position and keep your business on track for growth. 🔗 https://lnkd.in/enY4ssZc #startupfunding #termsheets #venturecapital #corporatefunding #corporatelaw

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I would like to share some good news with all of you on behalf of ShopSe Digital Finance team. We had started ShopSe to build the best platform for access to affordability options at point of purchase. Merchants in high-value categories needed to provide the best affordability options to their customers, but it used to result in a broken flow and experience which used to result in high drop-offs. As we started and scaled, I realized if we build real value for our merchant partners, it should reflect in the business being sustainable, which then allows to continue building more value for the market.  It would make me ponder how and when would ShopSe achieve breakeven. Ecosystem data clearly suggested that it won't be easy to achieve. That started a journey of taking some tough business calls, working with our partners much more closely, listening more closely to the market, improving our platform offering by many levels and saying no to any mediocrity internally (which I was advised is safer for a startup to ignore in current social media age to maintain 'positive employer branding'). There were ups and downs, wins and bruises (lots of them) but always a conviction to create the best platform in our space, India or globally, providing highest conversion, convenience and transparency for our merchant partners and their customers. ShopSe team kept fighting, navigated changing regulatory environment, made mistakes, gathered learnings but kept moving ahead, determined to build something of value to the market. And that has brought us to this day where I am able to proudly announce that ShopSe team has achieved breakeven in the most unlikely shortest month of Feb (reminds me when one of the investors asked me why do you people get drawn towards taking on the most challenging things). Thanks to everyone who contributed to this as part of the team, trusted us as a partner or supported us as a well-wisher. A new chapter begins in our journey now. We are even more motivated and determined to continue creating a valuable platform for our partners. Looking forward to your continued good wishes for our team as we begin the second chapter. Yagnesh Desai Abhishek Nimonkar ShopSe Digital Finance GOVIND MADAPALA Prerna Kashyap Mitul Doshi Kanhayalal Suthar Suraj Bhalekar Haresh Bhardwaj Biswaroop C.

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2 Year Fhunded Snapshot: 💰£21M+ early-stage equity raised through the Fhunded VC community 🧑‍💼 Around 40 new, high-skilled jobs created across Lancashire 🌹 19 leading VC's engaged with Lancashire-based deals via Fhunded events 🪽 Launch of the Fhunded Angel network 💻 Roll-out of Lancashire's bespoke Dealroom platform Read more: https://lnkd.in/eCX353jb

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Excellent update from Carlos Eduardo Espinal MBE on the evolution from founder reporting using the PPP (progress, plans, problems) format to a punchier and more concise mechanism that provides better visibility and less task reporting

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How will PISCES reshape the game for founders and investors in the UK? How founders and investors in the UK VC ecosystem could take advantage of the recently announced PISCES? Let us break it down the way they could leverage this new platform across lifecycle of a start-up. Early-Stage (Pre-Seed/Seed/Series A) Founders: External validation of valuation, option to remove inactive shareholders but risk of premature pricing. Angels: Partial liquidity → capital recycling into new start-ups while retaining upside. This could stimulate greater participation at the seed stage Growth-Stage (Series B–D) Founders: Helps in growth and a stepping stone to IPO by gaining experience with periodic reporting, governance, and market engagement in a controlled environment. Investors: Flexibility to partially exit while staying invested, easing fund lifecycle pressures and better capital management across portfolios. Late-Stage / Pre-IPO Founders: Retain control longer, attract strategic investors via secondary sales, boost IPO readiness and valuation. Current Investors: Structured exits, price discovery, protection against IPO market volatility. New Investors: Build positions early in high-growth firms at attractive valuations. LPs More predictable fund distributions. Stronger confidence in valuations linked to observable trades. Bottom line: PISCES could transform UK private markets, balancing liquidity with growth, and positioning the UK as a stronger global hub for venture-backed companies. Question to you: Do you see founders embracing this as a real stepping stone to IPOs, or will investors remain cautious until the model proves itself?   #UKStartups #VentureCapital #UKInnovation #Liquidity #PISCES #LondonStockExchange #IPO

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🚨 Spending Review Recap: Key Updates for Startups 🚨 The Spending Review on June 11th was a game-changer for startups and SMEs. Here’s what we learned: 💰 £2.5bn for British Business Bank – Access to funding just got easier. Time to scale your startup! 🔬 £86bn for R&D – £22bn/year dedicated to fueling innovation. This ensures continuous support for the UK’s tech and innovation. 🤖 £2bn boost for AI – UK’s computing capacity gets a 20x boost. The question now is: how can startups access this? 🛠️ £3.25bn for modernising government tech – Finally, an update to HMRC’s R&D tax relief process to make claims smoother and faster. 🧠 £1.2bn to support skills – New AI scholarships, fellowships, and courses. Investing in future talent is key. 🚄 Regional investment – Spreading funding and infrastructure across the UK for more startup opportunities. What’s next? How quickly this money reaches the people who need it most will be key. We’re keeping an eye on it. Let’s discuss what this means for your business. Drop your thoughts below! 👇 #SpendingReview #TechStartups #SMEs #InnovationFunding #AI #R&D #BusinessGrowth #UKTech

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We conducted a small trial to assess the impact of Open Banking payment positioning on e-commerce checkouts. The test involved 20 clients selling a range of products with varying Gross Merchandise Volume. We worked with 20 Shopify stores which were split into two groups: Group A (10 stores): Offers Apple Pay & Google Pay. Group B (10 stores): Offering only card payments - Some had a BNPL or PayPal solution as well. (However no Apple Pay or Google Pay) Weeks 1–2: 'Pay by Bank' was placed last on the checkout. Weeks 3–4: 'Pay by Bank' was moved to the first position in the checkout. Results Last Position (Weeks 1–2) Group A (Apple Pay, Google Pay): 'Pay by Bank' accounted for an average of 0.55% of total transactions. Group B (Card, BNPL, PayPal): 'Pay by Bank' accounted for an average of 10.4% of transactions. First Position (Weeks 3–4) Group A (Apple Pay, Google Pay): 'Pay by Bank' increased to an average of 7.3% of transactions. Group B (Card, BNPL, PayPal): 'Pay by Bank' rose significantly to an average of 24% of transactions. Key Insights - Positioning 'Pay by Bank' as the first checkout option significantly boosts adoption rates, particularly in stores without Apple Pay or Google Pay. - Even though ‘Pay by Bank’ gained an increase of transactions when moved to first on the stores with Apple Pay and Google Pay - Interestingly the majority of the uplift was from people switching from cards to Pay by Bank - Not Apple Pay or Google Pay to Pay by Bank.  - Stores with only card, BNPL, or PayPal options saw higher Open Banking adoption. - Merchants with higher Average Order Values saw greater reliance on BNPL or credit cards, slightly reducing Open Banking uptake even when placed first on the checkout. Obviously there are some great benefits of Open Banking for Merchants including instant settlement, reduced fees, elimination of fraud related chargebacks and a more seamless user experience than manual card entry with 3DS authentication. While some customers prefer their established payment methods, those entering lengthy card details (16-digit number, CVC, expiry date) and navigating 3DS authentication present an opportunity for increased Open Banking adoption. Obviously there were a number of limitations with this small test including the small sample size, the variable sectors and GMVs, without fixed controls. Results will also vary based on merchant-specific factors like AOV or customer demographics as well. This small trial does highlight the significant impact of checkout positioning on Open Banking adoption rates though. Placing 'Pay by Bank' first in the checkout flow drives a substantially higher transaction share, especially in stores with limited APMs. Merchants seeking to leverage Open Banking’s cost savings, security, and efficiency should look to prioritise its prominence in the checkout process. #paybybank #openbanking #shopify Boodil

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SME founders: here’s what buyers are looking for I was asked about this on the TechExits podcast, so here are some of the main criteria search fund entrepreneurs look for in SMEs. If you are preparing to sell, focus on these four areas: 1️⃣ 𝗚𝗿𝗼𝘄𝘁𝗵 𝗺𝗼𝗺𝗲𝗻𝘁𝘂𝗺 Buyers want to see consistent growth and a clear path forward. If the economy is slow, growth through acquisitions can also be a valid strategy. 2️⃣ 𝗛𝗲𝗮𝗹𝘁𝗵𝘆 𝗺𝗮𝗿𝗴𝗶𝗻𝘀 Strong margins make the business more attractive and give buyers confidence in the quality of earnings. There will be years when you want to invest in team members and product, but if your plan is to sell the company, it may be better to make sure you have the right balance of growth and margins. 3️⃣ 𝗟𝗼𝘄 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗰𝗼𝗻𝗰𝗲𝗻𝘁𝗿𝗮𝘁𝗶𝗼𝗻 You can build a great business with a single major client, such as a public sector entity. However, that is often not a sellable business for search funds. If one, two, or three customers represent a large share of revenue, buyers will see that as risk. Customer diversification is a key requirement. 4️⃣ 𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝘀𝘁𝗶𝗰𝗸𝗶𝗻𝗲𝘀𝘀 (𝗹𝗼𝘄 𝗰𝗵𝘂𝗿𝗻) This is especially important in software. High churn weakens the case for durability and future growth. These four metrics matter a lot, but timing is also near the top of the list. If possible, sell after a few years of strong performance, when the business has clear momentum and healthy margins.

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And.... it's LIVE! A real pleasure collaborating with FinTech Intel on this piece. If you've already seen the fundraising checklist, here’s the prerequisite six-step guide to preparing for fundraising as a pre-seed and seed stage UK startup. What's unique about this guide? 💵We take the investor POV (no complaining. No fluff. We say it how it is) 🚀 We've condensed top learnings from over 1,000 startups we've invested £150 million into There’s a fundraising series in the pipeline, so expect more practical, founder-first content on your feed shortly 👀 Fundraising guide: https://lnkd.in/dQC5Xyyh Fundraising checklist: https://lnkd.in/eeufRT86 Thanks to Alicia Courtney Ward and Francesca Kaye ACIM at Barker Brooks 😊

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84% of UK VC funding went to London-based start-ups in Q3... But there were a few bright spots beyond the M25. Some of the biggest rounds outside the capital were raised by bio and deep tech firms. 🏛️ Cambridge: CuspAI raised a £75m Series A to accelerate AI-driven materials discovery 🏬 Stevenage: NRG Therapeutics landed £50m in Series B funding to advance neurodegenerative disease therapies 🕍 Oxford: Ultromics raised a £40m Series C to expand AI heart failure diagnostics in the US 🏫 Bristol: Phasecraft secured a £25m Series B to help quantum computing solve real-world challenges 🏘️ Peterborough: GenPhoenix raised £11m to regenerate high-performance recycled material

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Buy now pay later #startup Snapmint has raised $125 million in its Series B funding led by General Atlantic, with participation from Prudent Investment Managers, Kae Capital, Elev8 Venture Partners, and existing angel #investors. Read More: https://lnkd.in/g7t_v64n

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📍London is now the Fintech Capital of the World. 🏙️ As of mid-2025, the UK is home to 11% of all fintech companies globally, more than any other country. From regulation to investor appetite, London has reasserted itself as the launchpad for ambitious fintech founders. 💰 In H1 2025, UK startups raised $2.4B, with fintech and healthtech capturing over $2.3B. Q2 fintech fundraising alone crossed $1B, showing sustained momentum even in a disciplined capital environment. Besides the obvious names - Revolut, Monzo Bank, still proudly headquartered in London, we’re also seeing breakout success from companies like Checkout.com, Zilch, GoCardless, Thought Machine, and Tide (rumoured to IPO soon). 📈 Where’s the funding flowing? ➡️ Payments & Remittances – $244M (≈55% of Q1 fintech capital) ➡️ BankTech / Challenger Banks – $213M ➡️ Wealthtech Platforms – $90M ➡️ Infrastructure & RegTech – smaller totals, but gaining fast, investors love scalable backend innovation ➡️ AI-driven Risk & Credit Scoring – growing interest, especially in B2B 🧠 Founders are navigating a tighter raise environment, but smart capital is still flowing. Investors today are looking for: ✔️ Regulatory advantage ✔️ Traction with real revenues ✔️ Intelligent capital use 🚀 Some of the top VCs actively backing UK fintech growth: Global players: QED Investors, Ribbit Capital, Index Ventures, Oak HC/FT London-based funds with strong fintech portfolios: Balderton Capital, LocalGlobe, Talis Capital, Fuel Ventures, and Atomico 👉 If you’re building in fintech and looking for the right backers to believe in your mission, we’d love to hear from you. At D2, we work with family offices, VCs, and private investors across fintech, AI, blockchain, and health, helping founders align their raise journey with long-term value creation. From blockchain-powered payment rails to AI-driven compliance, we support founders building not just to scale, but to make a difference. If you’re building something bold, something that could shape the future, and want to talk fundraising, investor alignment, or how to tell your story with clarity and conviction, let’s connect. #Fintech #LondonTech #StartupFunding #VCInsights #FintechFounders #PaymentsInnovation #WealthTech #Blockchain #AI #UKStartups #VentureCapital

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Founders: Before you take on UA funding — read this With several new entrants coming into this space, founders have more options than ever before for funding UA. Having successfully negotiated nearly 30 of deals in the past twelve months, I put together an inside look into what founders should REALLY consider when considering UA funding. Link in the comments... #UAfinancing #growthcapital #mobilegames #consumerapps #useracquisition

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Change is happening, but it goes slowly. Thanks to these latest datapoints we can follow the evolution of the funding market for specifically UK tech companies. And its great to see the rise of new types of financing products in the UK market. With more funding products, founders have more optionality, which means more founders will be able to find the funding they need to grow their companies. And this means alot more successful companies and innovation created in the market! Follow this post to read the insights, and lets take the learnings from the UK and apply to the rest of Europe to accelerate european growth

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🔧 Why We Built Tailored Payment Flows Instead of One-Size-Fits-All Accounts Most founders discover the limits of “standard” banking the moment their business stops looking standard. And in 2025, very few companies operate inside the neat boxes banks expect. They scale across borders, manage mixed revenue streams, work with partners in different jurisdictions, and move between fiat and crypto depending on the operational need. Yet their payment infrastructure is still expected to behave like a template. At Escrowfy GmbH, we kept meeting companies with real traction, real cash flow, and real customers — but blocked simply because they didn’t fit a predefined risk profile. Not risky. Not shady. Just different. And in traditional banking, “different” often means “delayed.” So instead of offering another generic corporate account, we designed payment flows that adapt to the business itself. Clear structure, predictable execution, and rails that support how modern companies actually operate today. Here’s what that looks like in practice: 🔹 Settlement paths tailored to operational reality 🔹 Direct access to FX, liquidity, and same-day conversions 🔹 Flexible distributions for suppliers, partners, and cross-border obligations It’s not the business model that slows companies down — it’s infrastructure that isn’t built for them. Escrowfy builds around you, not the template. 👉 Book a call with me https://shorturl.at/nZRGn #FinTech #Payments #BusinessBanking #CrossBorderPayments #FinancialInfrastructure #StartupGrowth #ModernBusiness #DigitalFinance #CashFlowManagement #BusinessOperations #Escrow #Innovation #CorporateFinance #GlobalBusiness

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