Have you ever wondered how the digital marketplace came to be? It’s no secret that the internet has revolutionised the way we do business, but how did we get here?
But before we dive into it, let’s understand what exactly a marketplace is.
What is the marketplace?
A marketplace is an online platform that connects buyers and sellers of products or services. It is also sometimes referred to as e-commerce platforms or online marketplaces.
Some of the most popular marketplaces include Amazon, eBay, and more. These marketplaces offer various products and services, from books and electronics to clothing and handmade goods.
Rise of the digital marketplace
The rise of the digital marketplace has been nothing short of remarkable. There are many reasons for the popularity of digital marketplaces.
Firstly, the digital marketplace provides a level playing field for buyers and sellers. Unlike traditional brick-and-mortar businesses, which their geographical location can limit, digital marketplaces can reach a global audience. This gives small businesses and individual sellers a much larger pool of potential customers.
Secondly, digital marketplaces offer a wide range of products and services. Whether you’re looking for a new pair of shoes or a rare vintage car, you’re likely to find it on an online marketplace.
Finally, digital marketplaces are often more convenient than traditional shopping methods. You can browse through thousands of listings with just a few clicks without leaving your home or office. You can also easily compare prices and read reviews before making a purchase.
How are startups revolutionising the marketplace?
Over the past few years, there has been an increase in the number of marketplace startups. And without a doubt, they have revolutionised the way businesses operate and connect with customers.
Here’re a few examples:
Efficiency and convenience: Marketplace startups offer a more efficient and convenient way for businesses to operate. By connecting buyers and sellers online, they save businesses time and money.
Personalisation: Marketplace startups provide a more personalised customer experience than traditional stores.
Democratisation: Marketplace startups are making it easier for SMEs to compete with larger businesses by providing them access to new markets and customers.
Economic growth: Lastly, marketplace startups positively impact the economy by creating new jobs and stimulating economic growth.
UK-based marketplace startups
Well, if you’re looking for amazing marketplace startups to keep an eye on this year, you’ve come to the right place.
We’ve got 10 of the best UK-based startups for you to check out, all of which were sourced using Dealroom Signal Top 100 — a series of data-driven lists featuring the top startups to watch in various industries.
According to Dealroom, these Top 100 lists are entirely data-driven using Dealroom Signal and have not been manually curated by the company’s analysts. Dealroom Signal is a new predictive algorithm feature launched earlier this year. Rather than creating a score about a startup’s general quality or performance, Dealroom Signal is specifically aimed at surfacing the most promising upcoming funding opportunities. The algorithm is therefore calibrated to find companies showing strong traction and which are predicted to be lining up for a funding event, or that are round-ready.
To begin with, Dealroom has created the Top 100 lists for the following industry verticals: Fintech, Marketplaces, Impact, Edtech, Healthtech and Foodtech.
Take a look!
Huboo
Founder/s: Martin Bysh, Paul Dodd
Huboo helps businesses grow by taking care of all their logistics and eCommerce order fulfillment needs. The company’s order fulfillment solution can integrate eCommerce sales channels, marketplaces, and systems.
Colendi
Founder/s: Bulent Tekmen, Eray Eren, Mihriban Ersin Tekmen, Serkan Omerbeyoglu, Zahid Sağıroğlu
Colendi is a Banking as a Service (BaaS) platform that aims to democratise banking services for consumers, merchants, and financial institutions to overcome the limitations associated with legacy banking.
The BaaS platform has developed unique services based on scoring algorithms, combining new-generation financial technology solutions utilising artificial intelligence and big data.
With its platform partners and strategic business allies, Colendi provides fast and easy access to loans with the buy-now-pay-later model and other distinct financial services to 7M users as of today.
Jiffy
Founder/s: Artur Shamalov, Igor Demishev, Vladimir Kholiaznikov
Jiffy is an online supermarket with an on-demand delivery service that offers a wide selection of fresh produce, meals, and household essentials sourced from popular brands and local suppliers at retail prices.
The company uses a network of smart fulfillment centers, known as cloud stores, which are dedicated to serving the needs and tailored to local communities’ tastes.
Jiffy platform is available in full-stack or separate ready-to-use e-comm app & web, store management, delivery management, BI & replenishment modules.
Otta
Founder/s: Theo Margolius, Sam Franklin, Xav Kearney
Otta claims itself as a “candidate-first” jobs platform, matching its users to suitable roles based on their personal preferences, values, and skill sets in its questionnaire. Since its inception, the platform claims to have gone from 1,000 applications sent per month to more than 5,000 daily.
PerchPeek
Founder/s: Paul Bennett, Dr. Ace Vinayak, and Oliver Markham
PerchPeek is a digital relocation platform that uses AI to guide people through every stage of their relocation, from search to settling in. It is an AI-powered home search assistant that makes it easier for flat-hunters to find a new home.
Vamstar
Founder/s: Praful Mehta, Richard Freeman, Vishesh Duggar
Vamstar is an AI-enabled global sourcing and procurement platform for medical supplies and pharmaceuticals. The platform connects both buyers and suppliers electronically to automate transactions and process flow across the supply chain on a global scale.
The platform is used by businesses and organizations connecting suppliers, such as pharmaceuticals, consumables, medical devices, and digital technology companies, with public and private buyers, such as hospitals, laboratories, health insurance, clinics, corporations, universities, or Group Purchasing Organizations (GPOs).
Mercuryo
Founder/s: Alexander Vasiliev, Greg Waisman, and Petr Kozyakov
Mercuryo is a cross-border payments network that enables businesses to send and receive payments for goods and services using cryptocurrencies.
The platform also offers its customers crypto SaaS solutions, allowing them to buy crypto via their fiat accounts while assigning digital asset management to the team.
HumanForest
Founder/s: Agustin Guilisasti
HumanForest is a sustainable micro-mobility platform that provides affordable and accessible solutions to eBike and eMoped sharing in London.
The company is on a mission to provide sustainable and affordable micro-mobility for Londoners, helping to reduce CO2 emissions, improve air quality and limit congestion across the city.
HumanForest has completed over one million rides in London since its launch year, saving nearly 200 tonnes of CO2 being emitted into London’s air.
HumanForest partners with like-minded companies to enable its users to have 10 minutes free per day on its eBikes, and 5 minutes free per day on its eMopeds.
Whering
Founder/s: Bianca Rangecroft
Whering is a fashion tech company that aims to end the ‘buy, use, dispose’ model and radically change our relationship with clothes.
The app allows users to digitise their wardrobes, receive daily styling suggestions, and curated (sustainable) products to complement existing outfits.
The platform is designed to be a one-stop mobile destination for everything wardrobe related, from reselling and lending clothes to mending them.
It aims to empower consumers to make more conscious choices with their spending power and to make the most of what they already own.
coinpass
Founder/s: Jeff Hancock, Jason Fitzpatrick
coinpass is a cryptocurrency exchange platform to allow users to buy, sell, trade, and hold crypto within a safe, secure and technology-driven infrastructure.
The platform aims to make it easier for the residents of the UK to purchase and manage a portfolio of cryptocurrencies, including Bitcoin, Ethereum, and Ripple straight from their mobile phones.
