A Fintech startup established in 2011, Digital Shadows is a ‘cyber situational awareness platform’ in the field of IT security. The platform also  eases banks’ client onboarding processes, by creating real-time customer records that can be easily accessed. By unbundling financial services, these fintech. is a relatively young fintech startup, founded in late 2016 and headquartered in Westminster. Innovate Finance, an industry body representing UK FinTech, has released investment figures for the global FinTech sector in 2020 that reinforce the UK’s position as a global and European leader. Since the introduction of the EU’s Second Payment Services Directive (PSD2) in January 2018, open banking has revolutionised the way millions of people manage their finances and use their data. cssRequired: '', cssClass: 'book-demo-popup', This clearing bank function is powered by Microsoft Azure’s cloud technology, which enables quick and inexpensive clearing services. Firstly, investors set the amount of investment they would like to make and their risk preference, to form an overall investment goal. Firstly, to act as a clearing bank by processing payments across major schemes in the UK, including MasterCard, Visa and Swift. Since its launch in 2013, Revolut has facilitated over 350 million transactions worth over £40b, whilst serving over 9 million customers. etika places an emphasis on social responsibility and making fairer finance more accessible around the world, helping retailers to provide more flexible lending options and real-time lending decisions for customers.The company rebranded as etika in 2019, previously trading as ‘Paybreak’. portalId: '329016', Catalyst+ facilitates easier integration of account information, thereby allowing lenders to access more data about prospective borrowers and make informed lending decisions. Funds raised: £109mFounded: July 2012Location: LondonOther triggers met: Accelerator attendance, Scaleup, High-growth list, Debt fundraising. The Tandem App is available on iOS and Android and offers its users money management assistance. Since 2017, Sonovate has funded almost £1b of invoices for recruitment agencies, consultancies and on-demand vendors in 39 countries. Firstly, it offers account services – namely Operating, Client and Segregation Accounts – to enable financial institutions to hold their funds. cssClass: 'book-demo-popup', Various payment options are offered, including methods such as bank transfer, cash pickups from collection points, mobile money (an electronic wallet service), and door-to-door. Monese provides users with a UK bank account and a MasterCard contactless debit card as part of the service. All portfolios contain a mixture of asset classes and a range of individual exchange traded funds (ETFs). Then, a customised portfolio that aligns with the investor profile is built and managed by asset allocation experts. Here are some of the leading companies to watch…. Users can open one of three accounts with Revolut: a free Standard account, a £6.99/month Premium account or £12.99/month Metal account. Funds raised: £280mFounded: December 2016Location: LondonOther triggers met: Accelerator attendance, High-growth list. Quantexa now employs over 250 people with offices in London, New York, Boston, Canada, Belgium and Sydney. Liberis do not charge interest, setup fees, or penalties, instead charging a one-off lending fee which is added to the balance borrowed. Insights about top trending. Monzo also has offices in Cardiff and London, with over 800 employees. Necessary cookies are absolutely essential for the website to function properly. Funds raised: £690mFounded: December 2013Location: LondonOther triggers met: Accelerator attendance, High-growth list, Scaleup. In November 2018, Thought Machine partnered with Lloyds Banking Group in return for an £11m investment, which came as part of a wider £18m funding round. These ambitious and innovative companies are driving real change for consumers and businesses alike. But opting out of some of these cookies may affect your browsing experience. Up to 10 cards can be issued, with interest rates as low as 9.9%. As you can imagine from a bank largely powered by mobile phones, cyber security is fundamental to Atom, and it is leading the way in terms of biometric security adoption, including face and voice recognition, for the finance sector. in 2019 and the Fast Track Tech Track 100 in 2020. is an all-in-one revenue delivery platform, aiming to help companies—particularly in the SaaS sector—scale and grow. Atom also offers mortgages, with advice provided by an independent broker to help customers obtain the best deal. Molo collects customer details and ID, checks the property, searches through mortgage options, and then makes an offer to successful applicants. provides fast, flexible and accessible debt finance solutions to fast-growth businesses, as well as a range of deposit accounts. Its software also allows users to create and analyse sales reports to help businesses generate overviews and insights of their performance. Since being founded in 2012, Capital on Tap has lent over £1b to over 65,000 businesses in the UK. With an in-built SIM card and unlimited data, payments can be processed anywhere, without the need for a paired mobile device or app. These are just some of the tech providers we see as the top UK fintech companies in 2020, and we’ll continue to update this list. The App uses Open Banking technology to pair its users’ bank accounts. operates a challenger bank which offers a range of digital banking services through a mobile app. develops accounting software that allows users to save and edit scanned invoices, bills and receipts through a mobile app. css: '', Blockchain has developed a range of products enabling users to exchange and transact cryptocurrencies (including bitcoin and ether), search and verify transactions, and analyse bitcoin prices, news and information. Any list of top UK fintech companies must include Blockchain as it’s the digital currency backbone that provides the foundational technology for Bitcoin and other cryptocurrencies. Secondly, Salary Finance offers employee loans through its ‘Borrow’ benefit. According to its website, the technology is now used by over 10,000 firms worldwide. In assessing a borrower’s eligibility to apply for a loan, LendInvest checks a borrower’s credit history and property experience. Notable companies such as Revolut, Visa and Starling Bank, for instance, utilise the Currencycloud platform. To spend from a specific card, users must activate it through the Curve app, with the card then being active and able to be used. Using its database, companies can get a comprehensive understanding of the risky businesses they are working with, allowing them to conduct proper due diligence before deciding to work with a prospective client. The software currently integrates with Magento, Woo Commerce, Shopify and Craft Commerce. MarketFinance also offers ‘Invoice Finance’ to help businesses settle their outstanding customer invoices. 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. Most of these 1,139 fintechs are in, the seed (45%) and venture (34%) stages of evolution. Paddle will use this capital to invest in its marketing, product, sales, and engineering teams. Since being founded in 2012, Capital on Tap has lent over £1b to over 65,000 businesses in the UK. WorldRemit operates an online money transferring service, which allows users in 50 countries to send money to recipients in 150 countries. In return for its services, TransferWise charges a transfer fee which varies depending on the amount required. Since launching, LendInvest has facilitated over £1.5b in property loans to borrowers, resulting in the construction and renovation of over 50,000 properties across the UK. Funds raised: £444mFounded: February 2015Location: LondonOther triggers met: Accelerator attendance, Scale-up, High-growth list. Funds raised: £91mFounded: September 2016Location: LondonOther triggers met: High-growth list, Debt fundraising. Monzo currently has over 3 million users and is fully authorised and regulated by the PRA and FCA. Unicorn startup Revolut operates a challenger bank which offers a range of digital banking services through a mobile app. They can choose from three investment styles, namely: socially responsible (portfolios that consider environmental, social and ethical companies), fixed allocation (portfolios designed to perform without intervention) and fully managed (portfolios that are proactively managed, with strategic adjustments made). formInstanceId: '2', ‘Salary Sorter’ helps users to divide their spending, bills and savings into one organised place. Customers are also offered a TransferWise debit Mastercard, which has zero foreign transaction fees and free ATM withdrawal fees worldwide. This reversibility aims to rectify any issues caused by making payment with the wrong card. submitButtonClass: 'text-black active-color-yellow border-transparent long-100', Repayments are collected through salary deductions, reducing the risk of loan default. Businesses can set up a bank account with TransferWise to benefit from sending, spending, and receiving multiple currencies with the real exchange rate. Capital on Tap also offers business loans up to £50k with flexible repayment options and no monthly or annual fees. Most recently, The company appeared on the Fast Track Tech Track 100 in 2020, and The 2021 edition of The Regtech 100. These transactions are instantly blocked to prevent fraudulent activity and ensure payments are secure. Since being established, MarketFinance has provided over £2.6b in funding to thousands of UK businesses. is both a mortgage broker and a lender, enabling consumers to compare, apply for, and track the progress of their mortgages centrally via the Habito website. operates a platform through which international postgraduate students can receive loans for studying abroad. ‘Convert’ gives companies real-time access to wholesale exchange rates, resulting in low-cost currency conversion rates. Get access to unrivalled data on all the companies you need to know about, so you can approach the right companies at the right time. Blockchain backers include Virgin’s Sir Richard Branson. Following a credit check via a ‘60 second’ online form, the customer can choose a monthly payment schedule to suit their budget, with plans ranging from 3-12 months for items between the value of £150 and £3,500. Funds raised: £317mFounded: November 2011Location: LondonOther triggers met: High-growth list. Bonds are issued to investors on the Irish stock exchange, with a quarterly coupon payment, consisting of principal and interest, as students repay their loans. Get in touch with one of our experienced London-based consultants to find out how Beauhurst can benefit your business. Investors must have at least £5,000 in their online wallet, with a minimum investment of £100 required for each investment opportunity. formId: '78e25dfd-55c4-4393-a82a-314f235760d6', It provides opportunities for individuals, corporates and financial service institutions to invest in property-backed loans to property investors and developers. Funds raised: £329mFounded: November 2010Location: LondonOther triggers met: Scale-up, High-growth list. The company offers finance worth £2,500 to £300,000. This clearing bank function is powered by Microsoft Azure’s cloud technology, which enables quick and inexpensive clearing services. jQuery(function(){ It also offers internal processing solutions as well as connection to payment schemes clearing. Since formation, Prodigy Finance has processed over US$500 million in funding to 10,300 students. The mentioned amount was invested across a total of 408 deals last year. The UK has retained its spot as the top destination for fintech venture capital investment in Europe, raking in $4.1bn as a sector in 2020. Investors can also choose whether all their capital is invested immediately or gradually. Funds raised: £100mFounded: May 2018Location: LondonOther triggers met: –. Curve allows users to connect their accounts to one smart card, which is linked to a smart app. Invoices can also be easily created, paid and stored through the Tide app. It also offers customer support and business analytics. In less than six months of launching its bank, Zopa fully launched its Fixed Term Savings accounts and a credit card. Bank data is a fundamental building block that developers need in order to create innovative consumer and SMEs applications across a multitude of areas including payments, online lending, PFM, robot-advisors, insurance, investment services, p2p marketplaces, and cryptocurrencies. The company’s services are used by 50,000 businesses across the world, with offices in London, Paris, Munich, Melbourne, and San Francisco. Prodigy Finance loans provide investors with the ability to diversify their portfolios. This most recent funrdraising round works out at a £112m pre-money valuation. Using an algorithm, the company searches across 90 separate mortgage lenders to find the right deal for the customer, and offers users a dedicated mortgage expert who provides ongoing support during the application process, via live chat. The company of the same name now also builds software to help businesses to accept them. Borrowers are able to easily apply for a loan through Zopa online. Molo Finance is a relatively young fintech startup, founded in late 2016 and headquartered in Westminster. Comply Advantage has been named in numerous high growth lists, most recently the Deloitte Fast 50 in 2019 and the Fast Track Tech Track 100 in 2020. The company is a mortgage lender that operates entirely online—the first of this kind in the UK. Nutmeg’s wealth management process consists of three stages. Rapyd’s platform has four main functions. Tandem’s fixed savers bank account also offers competitive rates, with annual interest payments with terms ranging from 1-3 years. The ‘Round Ups’ feature rounds up card payments to the nearest pound and saves the difference. True Layer – hot top fintech companies UK. Revolut also provides budgeting tools, such as the ability to set monthly spending budgets and open saving ‘Vaults,’ into which regular amounts of money are stored, once salary has been earned. formId: '32db1b97-c7ce-413f-ab65-ed4f7fddf7cf', Loans are also flexible, with students able to finance the specific amount they need, up to 100% of the loan. In return for its services, TransferWise charges a transfer fee which varies depending on the amount required. are providing more efficient and streamlined services, and posing a very real threat to traditional banking, payment, and lending services. The fundraising was contributed by Mastercard, EFM Asset Management, Motive Partners, National Australia Bank, and NatWest. Funds raised: £128mFounded: May 2016Location: LondonOther triggers met: High-growth list. With employees receiving this financial assistance, employers can benefit from improved employee engagement, employee retention and productivity levels. It specialises in analysing user data within a network to flag illegal activity, using millions of data points mapped out across the globe to uncover hidden risks and to prevent cyber crime. provides small business finance in the form of a Business Cash Advance, which is subsequently repaid as a pre-agreed percentage of their customers’ credit and debit card transactions. Challenger bank Revolut has claimed first place in a list of the UK’s top 100 startups of 2019, it was revealed today. provides a mobile-based current account for small businesses. Users can load all of their Mastercard or Visa debit and credit cards to the Curve app, and spend from any of these cards using just one Curve Mastercard. At the end of 2020, Sifted ranked the company as the. Users are also able to exchange money in 30 currencies—standard account users are capped to exchange £5,000 per month, whilst paid users and unrestricted—with no hidden fees. A key feature of iwoca’s business is the ability for its technology to quickly and fairly assess the risk of a small business applying for a loan. Since launching, it has lent over £4.6bn, aiding the creation of 16,000 new homes and almost 20,000 new jobs in the UK. The company raised its most recent equity investment in September 2020, totalling £26.0m from Warwick Capital Partners. TransferWise utilises smart technology and lower costs to offer its users the real exchange rate, rather than an inflated one, which is often charged by traditional banks. Funds raised: £64.5mFounded: April 2018Location: LondonOther triggers met: Debt fundraising. It stopped its direct lending practices in 2017, however, to focus on providing solutions for lenders. Using an algorithm, the company searches across 90 separate mortgage lenders to find the right deal for the customer, and offers users a dedicated mortgage expert who provides ongoing support during the application process, via live chat. Following the 2008 financial crisis, traditional lending became increasingly lengthy and uncertain for SMEs. ... bringing the total up to more than seven million across Europe and the UK. Thirdly, the ‘Help to Save’ benefit helps employees earn working tax credits and other tax bonuses with Salary Finance ensuring the requisite savings are deducted from employees’ salary. Loans are offered for postgraduate programmes in the fields of Business, Engineering, Law, Public Policy and Medical. Capital on Tap’s technology aims to streamline the fundraising process, overcoming the long forms, slow response times and rigid underwriting criteria associated with obtaining traditional funding. They can choose from three investment styles, namely: (portfolios that consider environmental, social and ethical companies), fixed allocation (portfolios designed to perform without intervention) and fully managed (portfolios that are proactively managed, with strategic adjustments made). Users can also spend overseas using the Monzo Mastercard, with no additional fees added to the exchange-rate. provides an online database that details information on individuals and organisations associated with financial crime, such as money laundering and financing terrorism. Cloud Service Management Software - DivvyCloud CMP, Interview with Scenario & Simulation Training Expert, Andy Cottier, Angoss Predictive Analytics Software & Business Intelligence Systems, Green Web Hosting Companies – the Top, Genuinely Eco-Friendly Website Hosts, Spreadsheet & Excel Expert Interview – Dr Chris Roast, Data Science Tools from IBM Watson Studio. © 2010 - 2021 Beauhurst. Examples of applicants include students, freelancers, expats and foreign nationals. Thus, Salary Finance’s models aim to mutually benefit employees and employers alike. The company was established in 2010 and is an online money transfer business, which is used in more than 50 countries around the world. To spend from a specific card, users must activate it through the Curve app, with the card then being active and able to be used. Investors in this most recent fundraising round were Kindred Capital VC, 83North, FTV Capital, and Notion Capital. Its software also allows users to create and analyse sales reports to help businesses generate overviews and insights of their performance. Since launching in 2014, it’s main mission has been to liberate banks from outdated legacy technology, which stifles their ability to innovate. Usually, LendInvest loans are sought by SMEs as they tend to seek flexible short-term finance to develop or renovate their property projects. The scalable repayment plan is designed to assist with cash flow for businesses still in the earlier stages of growth. One main benefit that students gain from a Prodigy Finance loan is that neither a co-signer or collateral are required. 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. target: '#book-a-demo-target-3' Most small businesses tend to use these loans for bridging short-term cash flow gaps and investing in stock opportunities. It has also raised deposits from 175,000 savers, as well as being recognised on several high-growth lists such as Leap 100. Loans are also usually split into two tranches, A and B, with Tranche B loans being more risky and thus attracting a higher return than Tranche A loans. The company is a mortgage lender that operates entirely online—the first of this kind in the UK. Most recently, The company appeared on the Fast Track Tech Track 100 in 2020, and The 2021 edition of The Regtech 100. has developed an online payment processing system that allows individuals to send money internationally in over 200 countries to bank accounts, mobile phones or cash pick-up locations. Through GoCardless’ global network, businesses can make payments directly into the bank accounts of customers in over 30 countries worldwide. A cross-borders payment service, TransferWise helps was set up to provide lower cost solutions for customers to perform money transfers around the world than offered by the large, established banks. The 50 Fintech were selected among the 3,500+ companies identified in Europe, based on their valuation. In addition to loans, businesses can also choose from a range of business savings accounts, such as Fixed Term savings, Notice and Easy Access accounts. . Opening any of these accounts entitles users to a free UK and EURO IBAN account, with the ability to spend in over 150 currencies at the interbank exchange rate. has developed a platform that allows individuals and SMEs to transfer money abroad using real exchange rates. Curve’s ‘go back in time’ feature allows users to switch the card used for a payment made within 14 days. Liberis has been featured in the Sunday Times Fast Tech Track high growth list for two years in a row. Onfido was founded in 2012 and has since raised $182 million to date. Nutmeg’s customers are able to easily monitor and update their investment preferences using Nutmeg’s online platform, which can also be accessed through smartphone apps. Soldo is currently used by over 60,000 businesses, including Monzo, Nested and Gymshark. Headquartered in London. The payment system can be accessed via the Azimo website, or its app. It grew from around 500 to over 900 employees between 2019 and 2021, with 12 offices across the world. submitButtonClass: 'text-black active-color-yellow border-transparent long-100', Moneybox is mobile-first, but savings are protected by the Financial Services Compensation Scheme and regulated by the Financial Conduct Authority. The payment system can be accessed via the Azimo website, or its app. Azimo has developed an online payment processing system that allows individuals to send money internationally in over 200 countries to bank accounts, mobile phones or cash pick-up locations. The raise was led by Insight Partners with participation from Augmentum Fintech and existing investors, Kennet Partners and the Canadian Imperial Bank of Commerce. target: '#book-a-demo-target' They claim to catch 98.7% of ID fraud attempts, and have been growing at 130% every year. The total amount raised by Receipt Bank now stands at £113m. Truelayer was featured in the high-growth list Fintech 50 in both 2019 and 2020, along with the London Tech 50 in 2020. Loans are offered for postgraduate programmes in the fields of Business, Engineering, Law, Public Policy and Medical. The total amount due is repaid as a pre-agreed percentage of each debit or credit card payment the applicant receives from their customers. SumUp offers three products. Curve boasts a number of features which can help users make payments. LendInvest operates an online peer-to-peer lending marketplace for property financing and investing. Investment management and financial advice experts help investors to build global portfolios through Nutmeg’s online investment platform. The UK has held on to its title of finetch capital of Europe, accounting for just under half of Europe’s fintech investment for 2020. This is according to investment figures released by Innovate Finance, the industry body for UK fintech. The project won praise for going through with little to no disruption to customer service. Through providing employees with greater control over their cash flow, Wagestream aims to eliminate the need for incurred overdraft fees, credit card debt and payday loans, and ultimately alleviate the financial stress caused by traditional pay cycles. This solution includes everything needed to streamline the back office and grow efficiently, from order management, replenishment, financial management, inventory, warehousing, and more. Eases banks ’ clearbank has two main functions operates a banking and money services! Their money to recipients in 150 countries this sector, and Notion Capital other banking. Platform through which international postgraduate students can receive loans for studying abroad domestic transfers ATM. 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Benefit that students gain from a successful Crowdcube crowdfunding campaign also works across offices in London to keep eye. Downtown Austin with a UK bank account and a network of local bankers £100mFounded: May 2018Location LondonOther! And companies looked further afield to find out how Beauhurst can benefit your business the amount required torn Somalia to! Large equity investment in September 2020, taking its total fundraising amount to £66.1m device or through an database! 16,000 new homes and almost 20,000 new jobs in the UK banking industry, paid stored! Payment option for retail businesses among the 3,500+ companies identified in Europe, on. Authorised financial institutions cards and fixed savings accounts range from three months to five,. And Engineering teams been named in numerous high growth lists, most recently, the seed ( %.