Turn off the eggs, put down the Financial Times, let the puppy sleep a while longer, unhand your husband or wife – you haven’t got time! That’s right this week’s Tech & Tonic has landed and it craves your immediate attention!
Nucleus goes public
It was a memorable week for the adviser wrap platform Nucleus, as it floated on the the London Stock Exchange's AIM junior market. The pivotal move, long anticipated by industry wags (yes, that's us), confirms the Edinburgh-based firm as one of the UK's biggest fintech success stories.
Hours after it first started trading, its share price was sitting pretty at 231p per share – a rise of 26% from its placing price, according to New Model Adviser. The jump values Nucleus at £177 million. And founder David Ferguson was apparently a wee bit chuffed.
So, @nucleuswrap was admitted to AIM this morning, a milestone and thus neither a beginning nor an end. Thanks to everyone who has backed us, cheered us on, screamed for better, inspired us and ultimately driven us to this point. We are eternally grateful ❤️— David Ferguson (@david_ferguson) July 26, 2018
Everything you need to know about "everything you need to know" articles
If we promised to tell you "everything you need to know" about equestrian psychology or yodelling in ONE article, you'd hoist an eyebrow strenuously, right? So, imagine our scepticism when Michael O'Brien of Kreston Reeves accountants made that promise of the much broader topic of business finance.
Yet, having pored over his feature at UK Tech News, we think he's nearly nailed it. "Nearly" because, although we're not experts, it's about as good as you'll get in a four minute read. Yes, Michael's tour through equity funding, business angels, venture capitalists, private equity, P2P and much, much more is certainly food for thought if you're a director or founder at a fintech start-up.
Pay-as-you-go car insurer raises £1m one week after launch
Let's turn this edition of Tech & Tonic into a funding special with the astonishing news that pay-as-you-go car insurer By Miles has raised a cool mill just seven days after launching.
Underwritten by Axa, the new product measures miles in real time and is aimed at drivers who travel under 7,000 miles a year or 140 miles per week in their car.
By Miles will charge car owners a fixed annual fee to cover their cars while parked and then bill them monthly depending on the number of miles they have driven.
The funding round was led by JamJar Investments, the venture capital fund of the Innocent drinks founders.
Enjoy the heatwave, don't forget your suncream and if we missed any news, let us know by tweeting @foco_global.