The startup sector in the UK is on the rise. In fact, a recent study showed that UK startup companies and scaleups together have raised £37 billion since 2011. Whilst funding activity declined in the pandemic, some substantial amounts of capital have still been raised by the UK\'s best and brightest technology startups.
In this article, we have listed the UK\'s best entrepreneurial startups , based on the most significant funding rounds that have so far been received in 2020 and according to the research conducted by our market research services experts. As a result, the businesses have developed and obtained the requisite financing to execute new technologies and aggressive growth strategies.
1. Revolut:
[caption class="snax-figure" align="aligncenter" width="662"]
[/caption]
Fintech startup Revolut runs a challenger bank that offers an app that allows customers to trade in Bitcoin, track and transfer money, as well as a variety of several other financial services. The Bank has expanded internationally since raising £180 m in 2018, setting up in Australia and Singapore in 2019 and the United States in 2020. Identified the fastest expanding fintech business in 2019 by Deloitte, Revolut currently has more than 10 million users throughout 35 countries.
2. Zopa
[caption class="snax-figure" align="aligncenter" width="662"]
[/caption]
Zopa is the very first peer-to-peer loan company ever. It has provided £5b in personal loans since its launch in 2005, and produced £280 m in interest to 60,000 active investors. Supported by anonymous founders, the firm raised £ 275 m in March 2020, taking its overall raised funds to £411 m.
This year Zopa announced the release of Zopa Bank, beginning with an ambitious credit card and competitively priced fixed-term savings accounts. Zopa bank aims at meeting the demands of consumers in regions where conventional banks fail.
3. Cazoo
[caption class="snax-figure" align="aligncenter" width="662"]
[/caption]
Cazoo runs a digital network from which people can purchase used vehicles. The startup company is relatively new; it was established in December 2018 and opened in late December 2019, setting a milestone with a pre-launch raise of over £ 180 m. Cazoo has now acquired two more rounds of funding this year, one for £100 m in March and the other for £25 m in June. Investors involve Draper Esprit, General Catalyst, Octopus Projects and Stride. VC, a venture capital company.
4. Checkout.com
[caption class="snax-figure" align="aligncenter" width="662"]
[/caption]
The new platform from Checkout.com helps organisations accept their purchases electronically in various currencies, which simplifies a procedure that was historically cumbersome.. In 2019, the first fundraising round of checkout.com raised £ 176 m to a reported value of just $2b shy. Coate, a hedge fund for the tech industry that invests in formal and informal equity funds, led the second round of investment this year, raising £121.5 m. The business currently has 13 branches worldwide, including ones in London, Singapore and the Silicon Valley.
5. Onfido
[caption class="snax-figure" align="aligncenter" width="662"]
[/caption]
Onfido\'s online portal, powered by artificial intelligence, helps businesses to automatically determine if a government-issued ID is authentic and possession is legal. Onfido has earned a total of £174 m, and only £79 m by 2020. TPG, an American private equity firm, has led the acquisitions. Onfido is now supporting more than 1,500 customers through sectors such as retail, business, and recruiting to check candidates and consumers. In Europe (London and Paris), the United States (San Francisco and New York), Delhi and Singapore, the 400-strong team is scattered across the globe.
If you’re looking to invest in startups or in a technology that is sure to leave its mark on the future, be sure to first conduct proper research. SG Analytics is one company that can help you conduct proper analysis of the market through its data-led research and contextual analytics services.
Sign in to leave a comment.