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Fintech Startups London Guide #1 Best Fintech Companies London
The UK capital is one of the largest financial hubs in both Europe and the world with the London Stock Exchange having a captialisation in excess of $4.5 Trillion and is the world’s largest exporter of financial services so it’s no surprise it is a world leader in Fintech.
What is fintech?
Fintech is a term that refers to the intersection of technology and finance. Fintech firms provide innovative financial products and services, such as digital banking, insurance products, investment advice, and payment processing. They use technology to improve the customer experience and disrupt traditional financial services providers.
Some of the world’s leading fintech firms include PayPal, Square, Stripe, and BlackRock. They are responsible for revolutionizing how we conduct our finances and create new opportunities for growth. Fintech is set to continue growing in popularity as it provides unprecedented benefits for both consumers and businesses alike.
So without any further ado, let’s go to our guide to the hottest fintech’s in London and of, course, if you are a startup looking to hire talent please get in contact with Rainmakrr.
Fintech Startups London
Trading View – New Entry
TradingView aim to be the largest social network and charting platform for traders and investors and are currently reportedly used by over 30 million users each month across 180 different countries with their open source charts and commercial libraries are used by tens of thousands of financial sites across the planet, including whales like: CME, Refinitiv, Investopedia, Crunchbase, Binance, Bitcoin.com and many many others.
Rapyd – New Entry
Rapyd are building the world’s largest local payments network so you can focus on creating great customer experiences and unlocking new markets. Rapyd does for fintech what the cloud did for IT. Their Global Payments Network connects your company to all the ways the world likes to pay and the infrastructure to create your own fintech solutions, like ewallets, cards and financial services. With Rapyd, digital sellers in Latin America can accept cash.
Starling Bank
Starling is a new app only challenger bank has made an impact on the UK financial scene since it received its banking licence in 2016 picking up no fewer than three gongs at the 2019 Smart Money People British Bank Awards including Best British Bank, Best Business Banking Provider and Best Current Account Provider.
Starling was the first brand in the UK to launch a mobile-only current account and also offers business accounts which is a great advantage as well as all the features you’d expect from a high street bank.
TrueLayer
With its proprietary API, TrueLayer gives smaller startups access banking data while avoiding – like all APIs – they need to build, design and maintain their own systems.
With so many new and huge markets to enter and almost endless potential partners to partner with, TrueLayer has “true” (Ed: groan….) potential to hyper grow their revenues as they fine tune their offer.
Nutmeg
Nutmeg thinks it’s one of the fintech UK companies with a difference by not developing complex algorithms to make decisions on behalf of its customers and instead relies on human beings to perform this role.
And that hasn’t stopped Nutmeg enjoying significant growth with over 50,000 customers causing Banking (Ed: removed through fear…) Goldman Sachs to invest in a funding round of $58 million.
Funding Circle
Funding Circle is one of the largest UK peer-to-peer lenders and the first to go public with close to 50,000 small to medium-sized UK businesses borrowing a total of £5 billion on its platform.
Funding Circle has had some ups and downs since it went public but recently announced a record year so lets watch this space
Monese
Monese offers current accounts and money transfers to a new generation of consumers and has a good reputation for its quick and simple application process.
In September 2019, Monese raised a gigantic $60 million in series B funding led by Kinnevik and others including PayPal.
Monzo
Monzo is probably the most known fintech companies out there and has entered the fray as a challenger bank scene in 2015 focussing on developing an intuitive banking experience for customers and were very much successful in this ambition and is now holding around $1.1 billion in deposits
Receipt Bank
Receipt Bank offers its clients cloud computing with AI and data handling thrown in which means Receipt Bank helps them saves time and effort by enabling the automatic compilation of accounts and expenses.
Through this process users are able to download spreadsheets and reports and connect up the platform with their existing software and has been embraced by clients.
Trussle
The mortgage space and InsureTech and Lending in general is one that has traditionally found itself highly resistant to digital transformation.
Well that as we know is all changing and online broker Trussle is a high profile entry to our list as its mortgage comparison platform seems to be breaking out.
Trussle doees this by scanning different lenders to find customers the best mortgages available and then continuously monitors the market post-sale to help its clients identify and switch to better deals later.
How frigging cool is that!
Cleo
Chatbots are massive and have never been easier to build thanks to the advances of both middleware and artificial intelligence software.
Enter Cleo, which is an AI chatbot that connects users Facebook accounts and helps them manage their finances better to track their expenditure and savings and this process helps them save money and plan for the future better. Which we all need…
Curve
Using the Curve app which works with Google, Apple and Samsung Pay, you can now access all your cards via a single card and PIN combo, doing away the need to have a wallet full of cards.
You can even “go back in time” up to 14 days and switch payment options after the payment has been made and transfer money. How cool is that?
With such a great product Curve could really be on the up curve (Ed: groan…)
Revolut
Revolut is providing a digital alternative to traditional banking by using prepaid cards and peer-to-peer payments and supports several cryptocurrencies on its platform.
Revolut has had some brand and culture challenges reportedly but the company is now recording an average of 3.7 million monthly active users, and an average of 1.2+ million daily active users so things could very much work out for Revolut with years of growth ahead them highly likely.
Transferwise
Founded by Kristo Kaarmann, a former manager at Deloitte, and Taavet Hinrikus, an angel investor and former Strategy Director at Skype, Transferwise is no longer a Fintech London company spring chicken and possibly the most well known Fintech startup of recent years.
Portify
Portify is one of the first UK fintech companies UK to address the financial volatility many flexible workers face, offering essential financial products to help users build credit, budget and save, via a single secure mobile app.
Portify has raised £8.3M in venture investment in a funding round led by Redalpine, Kindred Capital and Entrepreneur First.
Sumup
SumUp is mobile payments company that provides card readers to smaller businesses for them to use without a contract.
In 2019 SumUp, announced that it has raised a from Bain Capital Credit, Goldman Sachs Private Capital, HPS Investment Partners, and TPG Sixth Street Partners and plan to use this capital to accelerate its growth and acquire new merchants in its current and new markets across the globe.
Checkout.com
This scale up is in our top fintech companies london guide as they were originally founded in 2009 under a different name before evolving into Checkout.com in 2012 and have since grown to a team of more than 300 employees in eight offices, expanding into the UAE in 2013, and the US in 2017.
Checkout.com enables companies to process and accept cross-border payments from credit and debit cards, online banking, Apple Pay and others such as Klarna – all with a single integration. As a result, Checkout is considered a direct rival to the huge Dutch payment titan Adyen, which is listed on the Amsterdam stock exchange.
Hastee
Hastee is an award-winning employee benefit that enables workers to take a portion of their earned pay, on demand allowing workers to access a portion of their earned pay as soon as they’ve earnt it – with, importantly, no financial impact on your business and seamless payroll and time & attendance integration.
Mojo Mortgages
Mojo’s API’s to help lenders offer their customer’s personalised whole-of-market comparison and access to free real-time mortgage advice all from within their app or website.
Primary Bid
Primary Bid is in our top fintech companies london guide as they ensure that retail investors transact at the same time and at the same price as institutional investors and through their long-term agreement with London Stock Exchange by creating the infrastructure to seamlessly connect everyday investors with public companies when it matters most.
Soldo
Soldo provides companies from 1 to 1,000+ employees with a unified solution to manage spending and expenses and their multi-user setup features bespoke budgets and rules for each card, empowering staff to spend across multiple channels with automation, visibility and insight.
Paid
Paid allows you to find new value in your suppliers by using their specially-designed automation to smooth internal collaboration and process.
By doing this Paid can help to reduce time and costs spent managing suppliers by up to 10x.
Tumelo
Tumelo was established at Cambridge University, where their founders campaigned for the sustainable investment of their university’s £6 billion fund and their vision is a world where millions of investors have transparency over the companies they own and a shareholder voice to transform the investment system to serve both people and planet.
WealthTech Startups
With the UK capital being a leading world hub for finance and the defacto home base for some of the largest wealth management and hedge funds combined with the booming fintech sector it’s no surprise that the city is punching above it’s weight in wealth technology as well as the larger fintech category so let’s look and some of the movers and shakers in this category
MoneyFarm
MoneyFarm is in our top fintech companies london guide as they were created to help people make better decisions with their money with their digital investment advice and fully managed portfolios they’ve helped thousands of people to make better investment decisions.
Rerbium
Rerbium is the first business to introduce WM-as-a-Service so that Banks, Neo-Banks and Financial institutions can offer investment products and wealth management tools to their customers.
Rerbium have connected to multiple investment fintechs and merged everything into a single API and have gone one step further and are a building powerful wealth management tools that, up to now, have only been available to wealthy individuals.
CapDesk
Capdesk helps you streamline your equity plans and report to financial authorities with absolute confidence and now connects with Europe’s largest private secondary market helping you convert equity into cash. Go have a look today and Unleash the Motivational Power of Equity!
Fly Now Pay Later
Fly Now Pay Later allows you to fly anywhere and spread the cost of your trip in flexible monthly instalments from 0% APR by empowering their customers to spread the cost of their holidays in flexible monthly instalments with the Fly Now Pay Later app.
Upside
Credit Kudos
Through direct connections to the UK’s largest banks, Credit Kudos aggregates and interprets transaction data for use by lenders, brokers, and financial institutions and goes beyond traditional scoring, providing a comprehensive view of a borrower’s creditworthiness.
Open Fin
Open Fin are building built the operating system of finance to modernize desktops and accelerate innovation and their mission is to provide a unifying foundation for the next generation of financial industry applications.
Primer
Primer is in beta stealth mode currently and aims to consolidate your payments stack with a unified API, and supercharges your checkout with data driven insights.
Habito
Habito will get you the best mortgage possible. Fast, transparent and impartial – they’ll take care of it. Using a unique combination of cutting edge technology and industry-leading mortgage experts, homebuyers can, for the first time, be sure they are getting the best deal for them.
Plum
Plum is the AI assistant that boosts your bank balance. It analyses your income and outgoings and automatically sets small safe amounts of money aside for you and you can also invest in hand-picked funds and switch your bills to better deals instantly.
Fortu
Fortu are new to our fintech startups london guide as they are a borderless, private, personal finance solution for high-net-worth individuals and businesses requiring secure, reliable and international financial reach.
Railsbank
Railsbank is a pioneer and innovator in the global Banking as a Platform (BaaP) sector, enabling banks, businesses and brands to define the future of consumer and SME finance.
The Railsbank platform enables marketers, product managers, developers to take their financial product vision and rapidly prototype, launch and scale their vision using its open finance platform, financial operations, regulatory licensing and rich set of APIs.
Yapily
Yapily enable businesses and consumers around the world to share data and access payment infrastructure and connect businesses to thousands of banks through a secure open API.
We hope you liked our fintech startups london guide to the best fintech companies london has to offer.
