Fintech is one of the sectors that continues to grow and innovate across the world. When it comes to the most promising fintech startups in the world, UK is progressing to become a hub. It’s because it is home to billion-dollar companies and challenging financial institutions. It won’t be an exaggeration to say that the fintech industry in London is enjoying its moment in the sun.
While we know that there are many fintech startups in London, these companies have their own plans for 2019 to make them remarkable in the industry. And, here we list 6 promising London fintech startups that received the maximum funding in 2018.
#1 Revolut (Funding – $250 million)
Revolut was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko. The fintech firm raised a series C funding of $250 million in April 2018 led by a slew of investors such as Draper Esprit, Index Ventures, Lakestar, Global Founders Capital, Baring Vostok, DST Global, Ribbit Capital and Sprints Capital Management. Notably, this takes its overall funding to €309 million.
Revolut offers a world beyond banking. It offers free international money transfers and free global spending sans any fee at the interbank exchange rate. It is a banking alternative for a global lifestyle.
#2 Greensill (Funding – $250 million)
Greensill was founded in 2011 by Lex Greensill and Jason Austin. It received a funding of $250 million from private-equity firm General Atlantic in July 2018. With this funding, it has become a $1 billion-plus unicorn in the country.
Greensill is a supply chain financing company based in Queensland. It provides working capital financing to the companies across the world.
#3 Monzo (Funding – £85 million)
Monzo was founded by Jason Bates, Tom Blomfield, Paul Rippon, Jonas Huckestein and Gary Dolman in 2015. This company raised £85 million funding in a series E funding led by Accel Partners, Passion Capital, General Catalyst Partners, Thrive Capital, Orange Digital Ventures, Stripe and Goodwater Capital.
Formerly known as Mondo, it is a mobile-only digital bank. It focuses on building the best current account and works with a range of providers. It is considered an intelligent hub for the financial life of the users.
#4 OakNorth Bank (Funding – $100 million)
This fintech startup was founded by Rishi Khosla and Joel Perlman in 2013, OakNorth was created to help the growth of businesses in the UK. It also lets entrepreneurs reach their potential by offering bespoke debt finance solutions.
In 2018, this company raised $100 million via a series B funding round from NIBC Capital Partners, EDBI, The Clermont Group and Coltrane Asset Management. With this, the overall funding becomes €383 million.
#5 Zopa (Funding – £60 million)
Founded by James Alexander, Richard Duvall and Tim Parlett in 2005, Zopa received funding of £60 million in a Series F funding round from Augmentum Capital, Bessemer Venture Partners, Northzone and Wadhawan Global Capital. The overall funding of this fintech firm accounts to €150 million.
It is the first ever peer-to-peer lending company to provide users access to better-value loans and investments. It has helped customers borrow money without any stress.
#6 Ezbob (Funding – £15 million)
Ezbob was founded by Tomer Guriel in 2011. In January last year, this company raised an investment of £15 million from Global Fintech Solutions resulting in overall funding of €50.1 million. It was launched with the intention to build a team of technology experts with the goal of transforming the way the financial institutions lend to consumers and SMEs. It has invested in thousands of businesses in the UK since its advent. Also, it has won awards and showcased its technology at many events.
Stay tuned to Silicon Canals for more updates in the tech startup world.