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Wejo, the Manchester-based connected vehicle data company which is backed by US giant General Motors, has floated on the Nasdaq after completing a reverse merger.

The deal with Virtuoso Acquisition Corp was first announced at the start of June and valued the North West business at $800m.

As a result of the move, Wejo has received about $225.7m.

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Wejo was founded in 2014 and employs more than 250 people.

Richard Barlow, chief executive and founder of Wejo, said: "This is a monumental day for Wejo and the passionate members of our team who have remained steadfastly committed to our mission of utilizing data for good by solving critical mobility challenges.

"The closing of our merger with Virtuoso and public market listing provides us with the platform to continue to grow our relationships with OEMs and Tier 1 partners and customers, while expanding into new marketplaces, including fleet management services, end-to-end insurance, remote diagnostics, roadside assistance, car sharing, and payments.

"We have worked hard to position Wejo as the industry standard in connected mobility data and are confident we will continue to gain meaningful market share through the numerous addressable markets in front of us as this robust industry continues to grow."