Tech startups and scaleups in the UK have raised £37b collectively in announced equity funding since 2011. Although the 2019-2020 pandemic has drastically slowed down investment activity, the UK’s most innovative and brightest technology companies have still secured large sums of revenue.
Today, we’re going to profile the UK’s most innovative tech startups, based 9n the largest funding secured as of 2020. These companies have developed state-of-the-art products with inspiring business plans l, and have also secured the needed funding to implement their business plans and products.
Fintech startup, founded in 2013 in London, has 8 total funding rounds with £627m total funds raised and a whopping £383m funds raised in 2020. Revolt works on a challenger bank that provides an app where users can trade cryptocurrency, send and track money, with other financial services. In 2018, the bank raised £180m and has since expanded globally, with branches in Australia and Singapore in 2019, and one in the United States in 2020. In 2019, it was announced as Deloitte’s fastest growing fintech company. Today, Revolut has over 10 million active customers across 35 countries.
If you have a personal account, you can manage your money with spending insights, with a wealth of budgeting tools and will be able to open banking on your accounts. What’s more, you can also buy multiple cryptocurrencies and gold, and send the money internationally at the real exchange rate while enjoying discounts and cashbacks with some of the most popular retailers.
Founded in 2004, and also located in London, Zopa has 11 total funding rounds, a total funds raised was £411m, and now in 2020 funds raised totalled £275m.
Zopa is the first peer-to-peer lending startup. Since its launch in 2005, this innovative company in UK has given a total of £5b in personal loans. This led its 60, 000 active investors to generate £280m in interest. Some of Zopa’s undisclosed investors have contributed to its raised £275m, bringing their total funds to £411m.
This year, the company announced a launch of the Zopa bank. What’s great about this bank is its innovative credit card and fixed-term savings accounts that come with competitive rates. The bank aims to understand its customers’ pain-points and meets their needs in ways where their counterparts, especially in relation to traditional banks’ downfalls.
How it works is that the Zopa’s investors have their money is outspread across individual borrowers, meaning that each borrower will not see more than 1% of one investors’ money.
OneTrust is fairly new, founded in 2016 in London, it has a total of 2 funding rounds with a total of £322m funds raised and £162m funds raised in 2020.
OneTrust designs software aimed at helping users manage their security, privacy and third-party risks. The enterprise has raised its first summing rounds summing £160m in 2019, during this time, it was classified as a unicorn company. Earlier this year, OneTrust secured its £162m in its second funding round, both funding rounds were led by Insight partners which is a venture capital and private entity company. The SaaS model for OneTrust has provided ober 6, 000 customers with programs giving them to comply with hundreds of security and privacy laws across the world. The company has offices in Bangalore, San Francisco, Melbourne, New York, São Paulo, Hong Kong, Bangkok and more with joint headquarters in the United States and the UK.
The three primary softwares OneTrust can be used individually or merged to work collectively. If you want to keep track of how they collect and keep your data, OneTrust’s Privacy Management Software is the best option for you. For marketers, opting for the Preference Choice is a great choice as it helps marketers to have a clear understanding of your engagement efforts and have solid options for their customers. The third offering, the OneTrust Vendorpedia helps vendors and third parties assess mitigation risks between them for the owners through monitoring the safety attached to working with them.
Cazoo works on a digital platform from where users can buy used cars. This innovative company was founded in 2018 in London and has raised £205m with a total raised funds of £125m in 2020. The company has 5 funding rounds. This tech startup is fairly new, being founded in 2018 and launched in 2019. In this short period, the company has set a record for raising over an alarming £180m pre-launch. Additionally, it’s secured a further two funding rounds in 2020, the first in March worth approximately £100m, and the second in June worth£25m. Cazoo’s investors include Draper Esprit, General Catalyst, Octopus Ventures and Stride.VC venture entity firms.
Any business model that can wither the coronavirus is truly innovative. What made it flourish is its ability to allow its customer to buy their car online and in the comfort of their homes and still get it delivered right at their doorsteps. The company ensures that each car is thoroughly cleaned and reconditioned while maintaining social distancing until the car’s drop off.
This London, UK company was founded in 2012. It’s also been able to raise £298m and £121m funds in 2020. It has 2 funding rounds.
The company has developed a new technology that allows businesses to process payments online in multiple currencies, and makes the previously convoluted and lengthy process easier. Checkout.com got its first funding round and it amounted to £176m in 2019 with a reported valuation just under $2b. A tech sector hedge fund investing in public and private company markets, Coate, contributed to its second funding round this year that totalled £121.5m. Today, the company has 13 offices internationally, one in London, others in Singapore and silicon valley.
Graphcore was founded in 2016 and is located in Bristol with 6 total funding funds and the company has raised £365m. As of 2020, Graphcore has raised £116m.
Graphcore is another innovative company that has developed a processor aimed at optimised machine-learning tasks, as well as technology to accelerate AI and machine learning apps for servers and in the cloud.
In its first founding round, the company raised £24.5m just five months since being founded. It also reached unicorn status in 2018 and raised £158m in funding round. The company was backed by Atomico, Amadeus Capital Partners and Draper Esprit.
There are so many more innovative tech startup and scaleup companies in the UK that deserve to be showcased. At Real Business, we’re continuously monitoring the businesses and the strides they take to make their mark. We take our hats off to these and to many more. We’ll be keeping a lookout on your activities and shine light on you!