£50M Boost to Fix Delivery Chaos

The summary: Relay is revamping last-mile delivery with AI-driven logistics, slashing costs, speeding up deliveries, and helping retailers keep customers clicking ‘buy’ instead of bolting at checkout—all while securing £50M to take their game-changing model nationwide.

The details:

• Delivery Delays = Lost Sales – Outdated delivery networks are costing retailers a staggering $18B annually in abandoned carts. Enter Relay: a London-based disruptor slashing costs and boosting speed with AI-powered logistics.

• Tech-First, Cost-Savvy – Relay’s decentralised model ditches the old-school “hub and spoke” system, using AI to optimise routes, cut travel distances by up to 95%, and give retailers a fighting chance against delivery giants.

• £50M and Counting – With fresh funding from Plural, Project A, and Prologis Ventures, Relay is going full throttle on nationwide expansion, promising faster, smarter, and cheaper deliveries.

• From Parcel Pandemonium to Precision – Backed by big names like TikTok and Vinted, Relay’s AI-driven approach isn’t just delivering packages—it’s rewriting the rulebook on last-mile logistics.

Why it matters: Retailers are haemorrhaging billions because delivery networks are stuck in the dark ages, built for a world where people actually enjoyed queuing in shops. Relay is shaking things up with AI-powered logistics that make deliveries faster, cheaper, and far less of a headache—meaning fewer abandoned carts and happier customers. With £50M in the bank and backing from industry heavyweights, they’re on a mission to turn last-mile chaos into a well-oiled machine, leaving outdated couriers in the dust.

£64tn Error? Just Another Citi Tuesday!

The summary: Even the mighty Citigroup isn’t immune to a spectacular “whoops,” nearly gifting a client $81tn—more than the entire US stock market—proving that in high finance, a fat finger can cause a truly colossal cock-up!

The details:

• Oops, We Did It Again! Citigroup nearly turned a client into the richest entity on Earth after accidentally crediting their account with a casual $81tn instead of $280—luckily, no money left the bank.

• Spot the Error? Not Quite. It took three employees and 90 minutes to realise the blunder, proving that even in high finance, sometimes it’s just a case of turning it off and on again.

• A History of Butterfingers. Citi isn’t new to “fat finger” fiascos—this is the same bank that accidentally wired $900m to Revlon creditors in 2020 and once triggered a European stock market flash crash.

• Lesson Learned (Again). Citi reassures us that their controls are improving—because when you nearly transfer enough money to buy the entire US stock market, a second glance at the numbers seems like a good idea.

Why it matters: When a bank accidentally tries to move more money than the entire US stock market is worth, it’s a stark reminder that even the biggest financial institutions can slip on a digital banana peel. With Citi’s track record of costly blunders, regulators and clients might wonder if their “controls” are more suggestion than safeguard. If nothing else, it proves that in high finance, a simple typo can be the difference between a routine transfer and global economic chaos.

£30M Fuel for ClearScore’s Global Ambitions

The summary: ClearScore’s £30M boost and savvy acquisitions are powering their global expansion, making credit smarter and more accessible, all while cementing their place as a fintech force to be reckoned with.

The details:

• ClearScore bags £30M boost – The London-based fintech has secured a tidy £30 million in debt financing from HSBC Innovation Banking UK, fuelling its ambitious expansion both at home and abroad.

• Shopping spree continues – Fresh from acquiring Aro Finance, ClearScore is doubling down on M&A and embedded finance, ensuring users get seamless access to the right financial products when they need them.

• A fintech powerhouse – Since its 2015 launch, ClearScore has built a high-growth marketplace, connecting 24M+ users to tailored credit products. Their ecosystem now includes DriveScore for safer drivers and D•One for open banking-powered financial matchmaking.

• Banking on a bright future – Profitable and scaling fast, ClearScore sees this funding as a springboard for the next decade, with HSBC Innovation Banking backing their mission to redefine financial well-being worldwide.

Why it matters: ClearScore’s £30M boost isn’t just a cash injection—it’s a statement that fintechs with a solid model can thrive and scale globally. By snapping up Aro Finance and diving into embedded finance, they’re making sure consumers get smarter, frictionless access to credit when they need it most. With HSBC’s backing and a profitable business model, ClearScore is gearing up to shape the future of financial well-being, proving that fintech isn’t just about flashy apps—it’s about making money work smarter for everyone.

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