Examples of applicants include students, freelancers, expats and foreign nationals. The UK fintech sector has retained its role as the top-ranking investment destination in Europe, with $4.1bn invested across a total of 408 deals in 2020. Most of these 1,139 fintechs are in, the seed (45%) and venture (34%) stages of evolution. Another fintech unicorn, Checkout.com has developed software that allows businesses to process their payments online in multiple currencies. Transactions are also automatically categorised, ensuring accounting records for specific types of purchases can be easily kept. Available accounts include investment ISAs, Lifetime ISAs, Personal Pension accounts, and more. Firstly, investors set the amount of investment they would like to make and their risk preference, to form an overall investment goal. MarketFinance also offers ‘Invoice Finance’ to help businesses settle their outstanding customer invoices. The company is a mortgage lender that operates entirely online—the first of this kind in the UK. We tried to pi target: '#book-a-demo-target-3' Funds raised: £444mFounded: February 2015Location: LondonOther triggers met: Accelerator attendance, Scale-up, High-growth list. 10x Banking’s client data is also highly secure with built-in risk analytics capabilities and encrypted data. cssClass: 'book-demo-popup', Whilst Tide is not a bank, the Tide current account is powered by Prepay Solutions, which has FCA authorisation. The company has secured numerous achievements. The raise was led by Insight Partners with participation from Augmentum Fintech and existing investors, Kennet Partners and the Canadian Imperial Bank of Commerce. Funds raised: £52.4mFounded: November 2010Location: ManchesterOther triggers met: Formerly trading as AfforditNOW, etika offers financing alternatives to online retailers, allowing them to offer their customers more affordable purchase terms. Currently, it only offers Buy-to-let mortgages to individuals, and only operates in England and Wales. Wagestream is an app through which employees can access their pro-rata earnings whenever they need them, rather than wait for a monthly salary payment. Loans are also flexible, with students able to finance the specific amount they need, up to 100% of the loan. Molo Finance is a relatively young fintech startup, founded in late 2016 and headquartered in Westminster. Monese employs over 200 people across its offices in London, Tallinn, Lisbon and Berlin. Investment management and financial advice experts help investors to build global portfolios through Nutmeg’s online investment platform. The mentioned amount was invested across a total of 408 deals last year. Through its brands GetBucks, GetSure, New Finance Bank, and Fairgo Finance, the company offers impact loans, unsecured credit, banking solutions as well as insurance products to customers. submitButtonClass: 'text-black active-color-yellow border-transparent long-100', The digital platform is integrated with partners such as RightMove and Experian, and each step of the application is clearly signposted and transparently shown online. The idea behind Monese was devised by the company’s founder Norris Koppel, after he encountered difficulties when he moved to the UK from Estonia. companies, startups, investments and M&A activities, notable investors of these companies, their management team, and recent news are also included. In 2015, it became the first mobile-only bank to be licensed by the Bank of England. According to its website, the technology is now used by over 10,000 firms worldwide. Then, a customised portfolio that aligns with the investor profile is built and managed by asset allocation experts. An applying business’ company accounts, bank statements, and VAT returns are all used by iwoca to make a lending decision. LendInvest operates an online peer-to-peer lending marketplace for property financing and investing. Quantexa now employs over 250 people with offices in London, New York, Boston, Canada, Belgium and Sydney. Its latest round of funding took place in January 2020, and saw £55m equity and loan finance funnelled into the company. In June 2020, Zopa was awarded its full banking licence. No interest is charged on accessing earned income early, with a salary deducted fee imposed instead. Business accounts are available for sole traders, SMEs and enterprise-level businesses who have monthly international payments of £200k or more. Rapyd’s platform has four main functions. Current account holders can make instant UK payments and transfers, whilst also being able to set up flexible overdraft facilities and access loans through the Monzo app. allows users to connect their accounts to one smart card, which is linked to a smart app. Businesses are likely to qualify for a Business Cash Advance if they have been in business for over 4 months and process at least £2,500 of credit and debit card transactions a month from their customers. are providing more efficient and streamlined services, and posing a very real threat to traditional banking, payment, and lending services. Curve is currently available in 31 countries across the European Economic Area. TrueLayer has already launched a beta of its own Payments API. These transactions are instantly blocked to prevent fraudulent activity and ensure payments are secure. Moving forward, Primary Bid will be investing into making new hires, developing its technology, growing partnerships and expanding internationally. There are already over 1600 UK companies in this sector, and with numerous emerging fintech startups, this number could double by 2030. Funds raised: £127mFounded: January 2011Location: LondonOther triggers met: Accelerator attendance, Scaleup, High-growth list. Firstly, to act as a clearing bank by processing payments across major schemes in the UK, including MasterCard, Visa and Swift. develops accounting software that allows users to save and edit scanned invoices, bills and receipts through a mobile app. Based in Durham, Atom Bank is first bank in the UK to run entirely run via a mobile app. Funds raised: £61.5mFounded: April 2015Location: LondonOther triggers met: Accelerator attendance, High-growth list. It has also raised deposits from 175,000 savers, as well as being recognised on several high-growth lists such as Leap 100. Here are the top 11 fintech companies in London to keep an eye on. Deliveroo owns and operates an online food delivery platform in the United Kingdom. develops an online service through which small businesses can receive access to credit. Since launching in 2014, it’s main mission has been to liberate banks from outdated legacy technology, which stifles their ability to innovate. develops software designed to help facilitate the financing and employment of contractors and gig-workers for recruitment agencies and consultancies. An associate will work with you to build a sophisticated search, returning a dynamic list of organisations matching your ideal client. Paymentsense processes over 250 million transactions per year, totalling over £10b worth of sales. Data is then reviewed manually, but the preceding processes enables results to be updated in minutes as opposed to months. Revolut made layoffs amidst the coronavirus crisis, but also secured an additional £62.4m funding in July 2020 from TSG consumer Partners. The scalable repayment plan is designed to assist with cash flow for businesses still in the earlier stages of growth. Everyday banking services can be undertaken through the Tide app, with application for an account taking as little as five minutes. formId: '32db1b97-c7ce-413f-ab65-ed4f7fddf7cf', Moneyfarm places a large focus on providing customised investment portfolios to its clients, which they can easily access digitally. Brightpearl provides retailers and wholesalers with an entirely cloud-based, automated back-office solution. The countertop machine is designed for payments made at the till, the portable machine can process payments made within a 100-metre range from the till and the mobile machine uses SIM card and GPRS connection, enabling the machine to be used anywhere. portalId: '329016', hbspt.forms.create({ The Newcastle-based business recently appeared in the top 3 of Deloitte’s Fast 50 2019 high growth list, and then went on to place first in 2020—the only company in the top ten based outside of London. portalId: '329016', TrueLayer enables companies to capitalise on new Open Banking initiatives in the UK, and the broader, European wide PSD2 rules, by providing secure, clear and simple access to banking infrastructure. is a digital challenger bank that provides banking and money management services. Book a 40 minute demo today to see all of the key features as well as the depth and breadth of data on the Beauhurst platform. It has attended both the Microsoft ScaleUp (London) accelerator and Tech Nation’s Future Fifty accelerator. Due to the simplicity of GoCardless’ dashboard, the platform can be used by a wide range of businesses who collect recurring payments – often from overseas—including emerging startups and multinational corporations. provides an online database that details information on individuals and organisations associated with financial crime, such as money laundering and financing terrorism. This most recent funrdraising round works out at a £112m pre-money valuation. Paymentsense delivers face-to-face and virtual payment solutions to over 70,000 small businesses in the UK and Ireland. develops a platform that allows companies to make and receive recurring payments through direct debit. With employees receiving this financial assistance, employers can benefit from improved employee engagement, employee retention and productivity levels. ezbob initially operated as an online lending platform, lending directly to SMEs. Insights about top trending. Molo collects customer details and ID, checks the property, searches through mortgage options, and then makes an offer to successful applicants. Capital on Tap offers SMEs business credit cards and business loans. This clearing bank function is powered by Microsoft Azure’s cloud technology, which enables quick and inexpensive clearing services. As it launches its next generation bank, Zopa’s ambition is to provide simple, fair products that are easy to manage and using its technology to provide a bank that’s  fit for the future. Onfido was founded in 2012 and has since raised $182 million to date. ‘ezbob activation’ enables quicker processing of loans, with loan documents and transfers able to be quickly signed. Up to 10 cards can be issued, with interest rates as low as 9.9%. Using TrueLayer, developers can quickly meet security requirements, comply with their regulatory obligations, and gain access to data and payments, allowing them to focus their resources on developing innovative products and services. Funds raised: £482mFounded: July 2013Location: DurhamOther triggers met: Accelerator attendance,Scale-up, High-growth list, Grant received. submitButtonClass: 'text-black active-color-yellow border-transparent long-100', Based in London, Blockchain was founded as a company in 2011 and is now a fundamental part of the Bitcoin and broader cryptocurrency revolution. Mortgage repayments can be monitored in real-time through the app. MyBucks is a FinTech company based in Luxembourg that delivers seamless financial services through technology. The SaaS sector has seen meteoric growth over the past decade, but payment, compliance, and data governance infrastructure has struggled to match its pace. Monzo also has offices in Cardiff and London, with over 800 employees. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Next, investors choose how they would like their money to be invested. formInstanceId: '2', operates an online money transferring service, which allows users in 50 countries to send money to recipients in 150 countries. A total of $4.1bn was invested in UK … Get in touch with one of our experienced London-based consultants to find out how Beauhurst can benefit your business. Checkout.com processes 150 different currencies and offers direct access to all major international cards whilst also accepting popular local payment methods. This varies based on region; for example, a maximum of £5k can be collected from UK customers. ‘ezbob risk’ is an automated risk decision engine which uses over 40 sources of data to provide a comprehensive overview of a customer’s information, which underwriters can easily access. etika has raised £52.4m in total across five rounds, from investors Paragon Bank Business Finance and Shawbrook Business Finance. ‘Salary Sorter’ helps users to divide their spending, bills and savings into one organised place. In 2020 the company reached £1b in total assets under management. The 50 Fintech were selected among the 3,500+ companies identified in Europe, based on their valuation. It has attended both the Microsoft ScaleUp (London) accelerator and. Ant Financial and its affiliates offer services in wealth management, credit reporting, … The company was born out of the idea to change this, and has simplified the process by providing upfront funding against unpaid invoices. 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