The investment round was led by A.P. Moller Holding and will fund the upcoming current account and artificial intelligence initiatives.
"Today’s fundraise validates our financial performance and growth potential. Since launching our bank in 2020, we’ve consistently offered financial products that offer great value and ease to our customers, supporting our vision to build Britain’s best bank. We are thrilled to have investors who share our excitement at the opportunity to serve more customers across more product categories as we aim to become the go-to bank for millions of consumers."
The funding round was backed by existing investors Mercia Ventures, NorthStar Ventures and North East Finance.
"Newcells has a great product and a strong team, and has the potential to become a leader in its field. The past year has been tough for the pharmaceutical industry as economic uncertainty has affected investment, resulting in fewer drugs under development. Newcells has navigated the changing markets effectively, while also improving efficiency and strengthening its commercial team. It is now well positioned for growth as activity levels recover and more companies make the decision to move away from animal testing."
The round was co-led by GV and TQ Ventures to support international expansion.
"Our mission is to make legal services accessible for everyone while helping consumer lawyers and small firms rediscover the joy of practicing law. This funding will accelerate our US launch, where demand for faster, more affordable legal services is significant. By augmenting the work of human lawyers with our technology, we’re addressing a critical need in the US market and unlocking new opportunities for millions of US attorneys."
The pre-seed round was led by Myriad Venture Partners with participation from Entrepreneur First and various angel investors.
"Wexler assists lawyers working on the world’s most complex cases. The platform delivers critical, verified facts that legal teams can act on with full confidence. With support from Myriad Venture Partners, and Entrepreneur First, and working closely with Burges Salmon and also Clifford Chance, among others, we’re not just transforming how the legal industry tackles the time and efficiencies of fact-finding, but helping our customers generate greater business value for their clients."
