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  • 📈 9fin Secures £50M to Fix Debt’s Mess

📈 9fin Secures £50M to Fix Debt’s Mess

Inotec's £27M Boost for Wound Care Revolution

December 03, 2024

This is Cliff Equity, the UK’s business newsletter that keeps you informed on what’s important in tech, business and finance in less than 5 minutes

In today’s stories:

  • 9fin Secures £50M to Fix Debt’s Mess

  • Inotec's £27M Boost for Wound Care Revolution

  • St James’s Place Slashes 500 Jobs!

The summary: With £50M in fresh funding, 9fin is dragging debt markets out of their 1980s rut, using cutting-edge AI to deliver real-time insights and revolutionise how investors navigate the £141 trillion financial jungle.

The details:

  • Fresh funds to shake up the debt world: 9fin snagged $50M in Series B funding, with Highland Europe leading the charge. The cash injection aims to supercharge AI, expand their team, and boost their US takeover.

  • Banishing 1980s inefficiencies: Co-founders Steven Hunter and Huss El-Sheikh took debt capital markets from "yawn" to "wow," swapping outdated systems for real-time data and predictive analytics.

  • AI meets £141 trillion: 9fin's generative AI tools serve up instant answers, real-time updates, and advanced search magic, giving users a leg up in the high-stakes world of bonds and loans.

  • On the road to global domination: With 400% ARR growth and a tech team doubling in size, 9fin is setting the standard for fintech in debt markets—and they’re not slowing down.

Why it matters: Debt markets, worth a cheeky £141 trillion, are the lifeblood of global finance, yet they’ve been stuck in an '80s time warp. 9fin's tech-savvy shake-up means faster, smarter decisions for investors navigating a notoriously murky and inefficient system. With AI doing the heavy lifting, the platform isn’t just a tool—it’s a game-changer for making sense of the financial fog.

The summary: Armed with £27 million, a groundbreaking oxygen therapy, and a mission to heal stubborn wounds worldwide, Cambridge's Inotec is breathing new life into global healthcare.

The details:

  • A Breath of Fresh Innovation: Cambridge-based startup Inotec secures a hefty $33 million in Series C funding to expand its cutting-edge NATROX Oâ‚‚ wound therapy, delivering oxygen directly to wounds to speed up healing.

  • Chronic Wounds, Meet Your Match: With over 100 million sufferers globally and staggering healthcare costs, Inotec’s portable, wearable device promises a non-invasive solution to stubborn wounds—whether at the clinic or in the comfort of home.

  • From Personal Pain to Global Gain: Inspired by his aunt’s unhealing ulcer, inventor Mel Vinton partnered with Cambridge’s finest to create NATROX Oâ‚‚, revolutionising wound care by harnessing the healing power of oxygen.

  • Global Ambitions, Local Impact: Already approved in 46 countries, Inotec aims to cement its presence in the US, secure national reimbursement, and redefine chronic wound care with patient-centric innovation at its heart.

Why it matters: Chronic wounds are an expensive, global headache, and Inotec’s oxygen therapy might just be the soothing balm healthcare systems desperately need. By turning an inventor’s family woes into a groundbreaking solution, they’re making stubborn ulcers heal faster and patients’ lives a tad less miserable. With a pocket full of investor cash and big plans for the US, they’re set to shake up the world of wound care, one breath at a time.

The summary: St James’s Place is trimming 500 jobs as part of a £200m cost-saving drive, keeping its advisers safe and signalling its commitment to smarter, leaner operations by 2030.

The details:

  • A royal trim: St James’s Place is wielding the axe on 500 corporate jobs—a snip of around a sixth of its office staff—as part of a £200m cost-cutting masterplan.

  • Streamlining the crown jewels: The firm aims to shave £100m off its annual expenses for two years running, hoping to stash £500m in savings by 2030.

  • Advisers spared the guillotine: The 4,800 financial advisers operating under its banner are untouched; it's the 3,200 corporate staff feeling the pinch.

  • Simplify and standardise: Boss Mark FitzPatrick’s strategy is focused on tidying up processes, though the full fallout won’t be clear until next year.

Why it matters: St James’s Place tightening its belt signals a broader trend of financial firms cutting costs to stay competitive in turbulent markets. With corporate staff feeling the squeeze while advisers remain untouched, it’s clear where the company’s bread is buttered. For investors, it’s a reminder that even wealth managers need to mind their own purse strings.