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The Venture Codex

NatWest

250 Bishopsgate, London, EC2M 4AA, United Kingdom

Overview

NatWest provides strategic advice and expertise, trading, financing, risk management, and transaction banking.

Total investments
19
Lead investments
11
Investments · 12mo
2
Active investors
6

Sector focus

  • Banking
  • Finance
  • Financial Services
  • Risk Management
  • Trading Platform
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Investment portfolio

  • Raylo

    Participated · Debt Financing · Jan 2026

    Raylo, founded by Karl Gilbert, Richard Fulton, and Jinden Badesha in London, builds proprietary infrastructure that blends AI-based credit underwriting, embedded financing, and end-to-end device lifecycle management so brands can sell phones, TVs, and other hardware on a subscription basis rather than through one-off purchases. The platform supports leading electronics makers—including Apple, PlayStation, Dyson, and a newly announced partnership with LG—for premium TV and audio subscriptions. Raylo’s model handles risk assessment, asset financing, refurbishment, and resale, allowing partners to launch subscription programs quickly and capture recurring revenue. The company has attracted more than £180 million in total capital to date and counts NatWest among its long-standing backers. With fresh funding, Raylo plans to deepen UK market penetration, expand globally, and gear up for a U.S. debut in the second half of 2026. While no revenue or user numbers were disclosed, the sizable capital base and marquee partnerships underscore momentum toward international scale.

  • Holiday Extras

    Led · Equity · Oct 2025

    Holiday Extras positions itself as Europe’s leading platform for travel ‘extras’, offering ancillary products like airport parking, hotels, lounges and insurance that complement a customer’s core travel booking. The company aggregates and sells these add-ons through its digital platform and the Airparks parking brand. Management plans to channel significant capital into technology upgrades, product innovation and a broader international footprint. A particular focus is a multi-million-pound investment to modernise and rebrand Airparks sites in Amsterdam and Rotterdam, including facility upgrades and new shuttle fleets aimed at enhancing the customer experience. The newly secured financing underpins these initiatives, giving the company flexibility to execute on growth projects. No specific revenue or user numbers were disclosed in the announcement, but Holiday Extras highlighted its market-leading status across Europe and its intention to accelerate growth through targeted capex.

  • Pulse Clean Energy

    Participated · Equity · Aug 2025

    Pulse Clean Energy develops battery storage and grid-stability infrastructure, including synchronous condensers that provide inertia to the electricity system. The company secured a £52.5 million loan from Nord L/B to build two synchronous condenser units at Upper Boat, Pontypridd as part of the UK National Grid ESO’s Pathfinder 3 programme. The first condenser is expected to be operational by Q4 2026. Pulse says these assets will help integrate renewable energy and battery storage into the grid. The company plans to operate over 2 GWh of battery storage capacity by 2030. Watson Farley & Williams advised the lender on the Pontypridd financing.

  • Carmoola

    Led · Debt Financing · Jun 2025

    Carmoola provides a ‘finance-first’ platform that lets car buyers arrange financing before visiting a dealership, removing the need for broker or forecourt intermediaries. The company positions its service as simple, transparent and affordable, empowering consumers with greater control over the car-buying process. Its direct-to-consumer model has resonated strongly, with customer numbers reportedly doubling year-on-year. By focusing on technology-led lending, Carmoola aims to deliver faster approvals and better pricing compared with traditional lenders. The fintech has now secured more than £540 million in total funding, reinforcing its capacity to scale. Leadership highlights that the enlarged capital base will support rapid deployment of loans while maintaining an industry-leading customer experience. The new funding also triples the firm’s prior debt capacity, underscoring accelerating demand for its product.

  • FYLD

    Led · Equity · Oct 2024

    FYLD has built a SaaS platform that replaces static field forms with short video captures, which its AI engine analyzes in real time to flag safety, quality, and delivery risks. Managers gain live visibility into distributed jobs without additional site visits, while every action is automatically documented for compliance and audit purposes. The system targets high-risk, high-cost field operations across energy, construction, water, and related infrastructure markets, reducing rework and delays while cutting compliance exposure and cost. In 2025 the London-based company expanded into the United States, landing customers such as Kiewit Corporation, Quanta Services, Emery Sapp & Sons, and Sulzer, and it continues to serve long-standing partner Ferrovial. FYLD plans to use its fresh capital to further scale its technology and customer base in these verticals. The recent Series B raise brings significant resources to accelerate growth, but no revenue or user metrics were disclosed in the article.

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