Sheffield LegalTech company raises £2m
The Northern Powerhouse Investment Fund II (NPIF II) has completed its first deal in South Yorkshire since the launch of the £660m fund.
FinLegal – a Sheffield-based LegalTech company whose platform is used by the leading claims firms in the UK and Australia – has raised £2m to accelerate the growth of its client base internationally.
The funding has come from NPIF II – Mercia Equity Finance, which is managed by Mercia Ventures and part of the NPIF II, and Mercia’s own funds.
FinLegal’s platform is designed for managing class actions or large numbers of similar claims, where a law firm may be acting on behalf of thousands or even millions of claimants. It enables claimants to engage with lawyers more effectively while allowing law firms to benefit from automation and AI and reduce operating costs. FinLegal states that it can enable legal teams to handle up to six times more claims.
The company was founded in 2019 by Steven Shinn, an IT specialist who had been following the news stories about the Post Office group action and recognised the potential to use automation to make the process more efficient. Since its launch in 2020, the platform has processed over 2 million claims and is now used by the UK’s leading mass claims firm Leigh Day, the Australian market leader Maurice Blackburn and a growing number of mid-market firms in the US.
FinLegal, which currently employs 25 staff including three at its US office, more than doubled its annual recurring revenue (ARR) to £1.8m in the year to April 2024, and increased total revenue to almost £3m. The latest funding, which brings the total raised by the company to date to £5m, will also enable it to further develop its product to meet the needs of a wider audience and create 26 new jobs.
Steven Shinn, CEO, said: “The claims market is ripe for a platform like ours. Many claims are run on a no-win no-fee basis and increasingly there are fee caps, so operating costs are critical. Our solution reduces costs, automates but also improves client care and makes it possible to manage claims at a scale which might otherwise not be viable. It has already been adopted by the some of the leading claims firms and this investment will enable us to accelerate our international growth.”
Chris Borrett of Mercia Ventures said: “FinLegal represents a new breed of AI-enabled LegalTech companies. The business has rapidly cornered a niche within the mass volume litigation market and is driving substantial productivity gains for major global law firms. Steven and his team have acquired clients across the UK, Australia and in the USA and set their sights on becoming one of the leading litigation platforms globally.”
Let the buyer beware: Farmers urged to be cautious when buying on line
“Scammers can steal personal details, including addresses, phone numbers and debit and credit card details. Platforms like Facebook Marketplace, Pre-loved, and Gumtree often involve local advertising for items to be collected from your home. This could expose you to fraudulent buyers who seem interested in your item just to get your address.”
Acknowledging that most people are genuine and these trading sites generally work well for both sellers and buyers, it is wise to take precautions to ensure you don’t become a victim of crime.
“If you are in any doubt about buying or selling an item online then consider selling through an approved auction house, that way you will be guaranteed your payment, and your home location will be protected. There will be a commission fee to pay but it can make your transaction more secure.
“It is crucial to be aware of the risks of sharing information on social media, especially regarding when buildings or the farmhouse are unoccupied or when new expensive equipment has been bought.”
Warnings
- Some sellers may be looking to offload stolen goods or scam money from unsuspecting buyers.
- Be aware that sharing your address and availability can reveal when you will be home and when you won’t.
- Locations away from the home may look genuine but could be dangerous and allow force to be used to take the item without paying.
- Understand that inviting people to your home gives them a chance to notice your valuable items.
- Photos of items you are selling could also reveal personal details.
- Beware of buyers asking questions that could disclose more than you intend, including times when your property is more vulnerable or unoccupied.
- Selling items could indicate that you have new equipment or vehicles on site.
Guard your address: Be cautious when giving out your home address and postcode.
Delivery: If collecting or delivering the item yourself, check the location is genuine. Never go alone.
Limit access: If buyers come to your house, avoid letting them inside.
Support: Ensure someone else is at home with you during the collection.
Guard your schedule: Never disclose times when you won’t be home.
Be aware: Avoid conversations that could inadvertently reveal personal information. Stick to details relevant to the item.
Consider distance selling: While less convenient, distance selling can be safer than local collection.
Trust your instincts: If you feel uneasy about a buyer or their profile, decline the transaction and cease communication.
Home security: Maintain a good level of home security even if the transaction goes smoothly, as people might return later.
Rachel adds: “By following these precautions, you can minimise risks and ensure a safer selling experience on online platforms.”
York and North Yorkshire Mayor reveals plans for four new funds
Mayor of York and North Yorkshire David Skaith has announced plans for four new funds worth up to £27.5 million over four years.
A Vibrant and Sustainable High Streets Fund, Carbon Negative Challenge Fund, Business Innovation Fund and Skills Innovation Fund aim to enable growth across the region and test new ideas.
Outline plans for each fund were put to the membership of York and North Yorkshire Combined Authority. Funding of up to £27.5 million from the Mayoral Investment Fund was agreed in principle, subject to further consultation with elected members.
Ahead of an expected launch later this year, funds are being shaped by input from businesses, organisations and individuals around the region. This includes sector-specific engagement days led by the Mayor.
The funds also take direction from the Combined Authority’s new Economic Framework, which positions the strategic aims for the organisation moving forward.
It has healthy and thriving communities as its primary focus, alongside aims around affordable and sustainable housing and transport, vibrant and sustainable places and boosting business and a thriving workforce.
David Skaith, Mayor of York and North Yorkshire, said: “These four funds will enable the region to innovate, to try new things, to tackle challenges head on and collaborate. The role of Mayor is brand new for our region, and I see it as a way of bringing people together so that we are all benefitting from devolution.
“The new funds will tackle the key challenges and opportunities we’re being told about by our communities and partners. High street businesses need support to thrive, and I know we can build on great work that has happened already in York and North Yorkshire with the carbon negative agenda. Businesses tell us they need skills to support their work, and that opportunities can also be unlocked by feeding innovation and driving productivity.”
- Vibrant and Sustainable High Streets Fund Indicative £10 million funding across 2024 to 2028 approved in principle. The purpose of this fund is to rejuvenate and reanimate high streets across York and North Yorkshire, with key objectives including boosting resilience among businesses, supporting businesses to expand their offer and increasing events and activities that can attract residents and visitors to high streets.
- Carbon Negative Challenge Fund Indicative £10 million funding across 2024 to 2028 approved in principle. The fund seeks to support the development and delivery of projects that can help York and North Yorkshire become England’s first carbon negative region. The goal is for projects to be innovative in nature; for example, trialling new approaches or technology, serving as a “demonstrator” project that others can replicate, or projects that will enable systems change across the region.
- Business Innovation Fund Indicative £5 million funding across 2024 to 2026 approved in principle. The fund aims to achieve greater progress, and at a faster rate, in delivering economic opportunity across York and North Yorkshire by providing the right conditions to attract new investment and support our businesses to be more innovative, productive and resilient.
- Skills Innovation Fund Indicative £2.5 million funding across 2024 to 2026 approved in principle. This fund aims to ensure there are opportunities for all – boosting the range of courses available which also meet the needs of the region’s businesses.
Social housing group secures £50m from RBS for upgrades to 38,000 homes
Together Housing Group has secured a deal worth £50m from an RBS scheme to allow for significant sustainable upgrades to its portfolio of over 38,000 properties across Yorkshire, Lancashire, and the North Midlands.
The deal will allow THG to make proven sustainable retrofits such as the installation of ground and air source heat pumps as well as the replacement of cladding, roofs, and windows to its network of socially-rented properties across more than 30 local authorities.
The group is the first affordable housing association to secure funding of this nature as part new Green Housing Retrofit Loan pilot scheme from the Royal Bank of Scotland, part of the NatWest Group.
Mark Dunford, Executive Director of Finance and Commercial at Together Housing Group, said: “We’re proud of the progressive steps we’ve taken as an organisation so far towards achieving our ambitious Net Zero priorities and we are thrilled to be the first social housing association receive this valuable funding.
“Our Carbon Reduction strategy puts residents at the forefront as we strive to make essential retrofit adaptations to properties, ensuring they remain energy efficient for the benefit of current and future residents.
“We’re delighted to be working with The Royal Bank of Scotland once again to strengthen our long-standing relationship and continue to make climate change a priority for both organisations.”
Judith Cruickshank, Chair, Scotland Board, Royal Bank of Scotland, said: “This funding deal is a landmark for the sector and we’re proud to be the first lender to provide such support to the UK’s social housing industry.
“Together Housing Group provides safe, comfortable – and importantly, affordable – homes to over 80,000 families and individuals across the north of England who are all set to benefit from this new investment.
“Royal Bank is committed to supporting the UK’s social housing sector and we’re privileged to play a role in facilitating Together Housing Group’s continued growth.”
THG was first established in 2011 following the merger of six existing housing associations. The charitable social landlord now provides support services to over 80,000 people and is a major employer within the area with a team of more than 1,500 staff.
East Yorkshire firm develops safe unloading tool for ABP at Immingham
Working with East Yorkshire agricultural machinery specialist Agriweld, ABP has developed a tool to allow crews to loosen set materials in agribulk cargoes at Immingham’s International Bulk Terminal.
The attachment is a nine-metre spike which can be fitted to a Volvo L150 Loading Shovel. It has 11 thick spikes at the end and the top row can be covered with a safety guard to reduce the risk to people when in a grounded position.
The operators can push the spike through the solid cargo, breaking it up and making the cargo face safe, but also allows the creation of loose cargo to be loaded easily and directly to the truck.
Simon Bird, Regional Director of the Humber ports said: “This collaboration has made sure our operators can work safely in the sheds. By being able to agitate the material from a safe distance it eliminates the risk of material collapse that can happen when the cargoes build up and solidify. I’m particularly pleased that this innovation stems directly from colleagues, demonstrating their focus on safety and continuously improving the way we can work.
“Safety is a number one priority for our operators and third party working in these areas. It also shows how we can support our customers and their needs to offer safe solutions.”
Scott Barrett, Operations Manager (Reclaim) said: “Agriweld had never built a spike before, but we have used them for the design as they are Volvo approved and have previously provided pusher blades for the Terminal. We’re delighted with the outcome.”
Brett Johnson, Sales & Marketing Manager, Agriweld said: “Having supplied ABP with our long reach material pushers for many years we were proud to be asked to create this bespoke breaker to their own requirements.
“Our design engineers worked with ABP and SMT to ensure that the product was not only effective but also worked within the loader’s parameters. Extra features such as an upper spike guard for worker safety and economical wearing parts were installed to further enhance the product. The Breaker would need to cope with the demanding needs of the job which was reflected within the design. A build of the highest standard ensured that the Breaker would perform at the required levels every time.”
Government office scheme approved by York city councillors
A six-storey, 195,000 sq ft government hub, planned by the Government Property Agency , Homes England and Network Rail has been approved by the City of York Council planners.
Earmarked for completion in 2027/2028, the hub will be home to up to 2,600 civil servants. Building features include solar panels, air source heat pumps and a green roof, as well as 230 cycle spaces and a planted pedestrian area.
The development includes 135,000 sq ft of flexible office space, with ground floor retail and ancillary space.
The hub is the first part of York Central – a major initiative to redevelop a substantial area of land close to York city centre and boost the regional economy.
Mark Bourgeois, the GPA’s CEO, said: “Development of this new facility, which will deliver a modern, inspirational and energy-efficient office development will be home for up to 2,600 civil servants.
“The new hub will help to accelerate the York Central development, stimulate economic growth and investment in the North of England as well as supporting the transformation of the Civil Service.
“It’s another milestone for us at the Government Property Agency to deliver smart, modern, sustainable and digitally connected workplaces that focus on improving productivity and wellbeing.”
York Central is one of the largest brownfield sites in the UK, and is located next to the city’s railway station. The scheme is being brought forward by a collaborative partnership between Homes England, Network Rail, the City of York Council and the National Railway Museum. It will be developed by private sector partners McLaren Property and Arlington Real Estate. There has been extensive public consultation prior to the submission of the York Central government hub application. Robin Dobson, Group Property Director at Network Rail, added: “Creating high quality workspace is fundamental to the future success of York Central. Having attracted the GPA, it is great to have reached this important planning milestone ahead of seeing a new workforce bring this regeneration scheme to life.”Reward appoints relationship manager to support business growth across Yorkshire
Alternative finance lender, Reward Finance Group, has further supported its expansion aims across Yorkshire by appointing an experienced relationship manager to join the team at its Leeds head office.
Anthony Cope has been appointed to meet the needs of Reward’s growing client portfolio in the region, having worked within the financial sector for over 25 years. He spent the majority of his career in a similar client-facing role at Yorkshire Bank (now Virgin Money) before recently moving into the growth funding space at The FSE Group.
With Reward providing property investors and SMEs with tailored business finance loans and asset based solutions of up to £5m, Anthony will primarily be tasked with supporting new clients on a face-to-face basis with their ongoing borrowing requirements.
Commenting on his new role, Anthony said: “Reward is one of the largest and most established alternative finance lenders across the UK and on a terrific growth path, so I jumped at the opportunity to be part of its success.
“Having spent so much time in the banking sector, I’ve seen first-hand the pressures and obstacles SMEs face when trying to access finance and the critical role alternative lenders like Reward play in providing fast and flexible funding solutions to meet that need.
“I’m looking forward to working closely with our clients across the region and supporting them along their borrowing journey, to help them unlock further business opportunities and growth.”
Chris Ibbetson, Reward’s regional operations manager, added: “Our entire business is built on forging strong relationships, especially across our SME and property investor client portfolio, and so Anthony is a key appointment.
“He brings a wealth of financial and client services knowledge and experience to the role which will further bolster our expansion plans and hugely talented team in our Leeds head office.”
Accountancy practices merge in welcome boost to Wakefield and surrounding area
Streets Chartered Accountants, a top 40 UK professional service firm, has announced the establishment of Streets Andrew Wright Chartered Accountants.
The announcement follows the merger of the Wakefield practice, Andrew Wright & Co with the fast-growing multi regional practice, Streets Chartered Accountants.
When asked about the merger, Sally Wright, Managing Director, said: “Fellow Director Richard Farndale and I are delighted and excited about the merger. Our practice was founded in 1975 by my father Andrew Wright and over the years the practice has grown based on our reputation and the demands of clients in and around Wakefield.
“As with any business we cannot stand still and to overcome the challenges we and our clients face we need to develop our business. We looked for some time to find a perfect partner to support us and one with which we mutually share the same values and we believe we have found that in Streets. Certainly, there is a great match, both in terms of client focus and cultural fit.
“Now that Andrew Wright & Co is part of a larger practice, we can confidently promise greater continuity of service to our clients and improved career prospects for our team, as well as to those looking to enter the profession and new roles locally.
“We also believe that our clients will benefit in that the combined firm will be able to offer a wider range of services including areas of specialist corporate and private client tax planning, banking and finance, international advice, personal financial planning and even a virtual finance office.
“As a result of the merger, we are also now able to undertake statutory audits for larger clients, as well as businesses and organisations across West Yorkshire.”
Looking at what the merger means to Streets, the firm’s Managing Partner, Paul Tutin, said: “With Streets’ long established office in Hull it seemed a logical move to look for further practices across greater Yorkshire as we are keen to establish the firm as a leading player across the region.
“We were therefore delighted to enter into a conversation with Andrew Wright & Co. Very early on in our discussions it was clear that we shared the same vision and values for the profession and for supporting our clients.
“We are really looking forward to working with Sally and Richard to grow the practice and to further establish it as a pre-eminent accountancy, business and tax advisory firm servicing the needs of businesses and individuals across West Yorkshire.
“The merger of Andrew Wright & Co follows on from a number of others with Streets over the last 18 months including practices in Colchester, Bristol and Banbury. This, along with the opening of new offices in Burnley, Lancashire and Lichfield in the West Midlands as well as continued organic growth, has enabled us to achieve revenue of £35m. Looking ahead, with a number of further mergers and acquisitions in the pipeline which include further practices across Yorkshire, we are on track to achieve our target revenue of £40m by the end of the year.
“In line with the firm’s growth plans, we have also made a number of key appointments, including that of Simon Jones as our Deputy Chair and Paul Birch as the firm’s first Chief Operating Officer. Both are highly experienced individuals with established track records for developing successful organisations.
“These new roles, along with existing ones including that of our Group Finance Officer Josh Woods and other members of the senior leadership team, will continue to play a key and pivotal role in realising our goals to become a truly UK practice – one that offers and delivers excellent client service, innovation and advice, as well as being a great place for our colleagues to work and pursue their careers.”
Streets Law, the firm’s dedicated corporate and commercial law offering led by Managing Director and Solicitor, Adam Aisthorpe, undertook the legal work on behalf of Streets for the merger, including drafting the sale and purchase agreement and dealing with the due diligence process in collaboration with internal colleagues in the tax and audit teams at Streets.
Hull’s historic bombed cinema to get new lease of life as restoration work starts
The restoration of a derelict Grade II listed cinema in Hull is now underway.
The National Picture Theatre on Beverley Road, which still bears the scars of a World War Two bombing raid, will be given a new lease of life.
The cinema was the “last surviving civilian bomb-damaged building” from the period and was granted Grade II listed status in 2007, due to its significance.
With 1,050 seats and balcony, the cinema was long and narrow and opened on 23 December 1914.
Local contractor, Hobson and Porter are undertaking the restoration of the site, thanks to funding from The National Lottery Heritage Fund, Hull City Council and the National Civilian World War II Memorial Trust (NCWW2MT).
Works to preserve the site for future generations include the replacement of period windows, stabilisation and restoration of the red brick façade and new lighting.
The open space where the auditorium once stood will be used to create a flexible education and community events area and war memorial, enabling visitors to learn about the life of civilians in the Second World War.
The project has been long campaigned for by the National Civilian World War II Memorial Trust (NCWW2MT), who are passionate about sharing the impact the Second World War had on civilians in Hull, and how this site reflects just how much Britain’s second most bombed city in the UK was affected.
Councillor Rob Pritchard, Portfolio Holder for Culture and Leisure, said: “I am delighted to see work starting on site. Once complete it will, for the first time since it was destroyed in World War II, enable visitors to access the building safely.
“There are so many stories within the National Picture Theatre that are of national importance, and to have the opportunity to give it the attention it deserves is fantastic.
“I would like to thank The National Lottery Heritage Fund for recognising the significance of this project and the local community for their continued support now and going forward.
“I am looking forward to seeing the restoration progress.”
Hobson and Porter’s Managing Director, Richard Hunter, said: “Having been based in Hull since 1971, we have seen the cinema sadly fall into a sorry state and feel hugely proud to have been chosen to restore such a significant, historic landmark in the city.
“In recent years we are proud to have worked with Hull City Council on a number of heritage projects in the city including the recommissioning of the iconic Guildhall time ball, the refurbishment of Beverley Road baths and the repurposing of the former city archives at 79 Lowgate.”
Helen Featherstone, Director, England, North at The National Lottery Heritage Fund, said: “It’s very exciting to see work on the National Picture Theatre get underway. This project will not only restore and preserve the heritage building for future generations, it will also connect visitors from near and far with its unique story.
“We’re very proud that, thanks to National Lottery players, the Heritage Fund is able to support multiple projects in Hull that, like this one, are contributing to the city’s ongoing, heritage-led, cultural renaissance.”
The cinema, which was designed by architects Runton and Barry for the De-Luxe Theatre Company and built in 1914, was badly damaged during a Luftwaffe air raid on 18 March 1941. At the time, more than 150 people were inside, but no-one was killed or seriously injured.
Hull was one of the worst-affected cities in the country during the Blitz and had to face air raids for longer than any other place in Britain.
Once restoration is complete, the history of the cinema will be told and become an educational facility and a place to remember loved ones. The restoration programme is expected to take around five months to complete.
Real estate investment forum generates £21m in West Yorkshire, says independent report
An independent report by ARUP has highlighted that the UK’s Real Estate Investment and Infrastructure Forum, a major event taking place annually in Leeds, has generated almost £21m of local economic activity in the city and the wider West Yorkshire region in 2024.
The event, which brought together over 13,000 official attendees in 2024, has now generated £38.5m since it began in 2022.
Nathan Spencer, Director of UKREiiF, said: “We’ve always wanted UKREiiF to be more than just an event – year round we’re looking at ways to benefit the community in West Yorkshire, and part of our marketing activity before the event was looking at much more than just growing the attendance in terms of numbers, we were reviewing how to get people spending more time in the region, and how we can get them to return more frequently.
“We’re delighted to continue our work with ARUP to showcase the truly incredible results UKREiiF is having on the local economy, and we look forward to hosting the event in the city once more in 2025.”
Key highlights from the report include:
- £38.5m economic boost since 2022 (£5.5m 2022, £12.1m 2023, £20.1m 2024)
- 41% of delegates staying for 2 nights in the city region (up from 38% in 2023) and 25% of delegates staying for 3 nights in the city region (up from 22% in 2023)
- 3.5% of delegates staying for 4 or more nights in the city region (up from 3.1% in 2023)
- 33% of people attending UKREiiF are now visiting Leeds more frequently between each event ‘due to the event’
