A Highlight of 42 UK FinTechs Funded in the Past 12 Months
Matthew Banks
Building AI-powered RecTech & Staff Augmentation Solutions for Tech Teams | BrightBox & RedNevada.AI
The UK has established itself as a leading hub for financial technology (FinTech) companies, with London being home to some of the world's largest financial institutions. In the past year, the FinTech industry in the UK has continued to thrive, with many companies receiving significant funding.
A new national hub for FinTech excellence has been launched to boost the sector’s growth and help it to achieve truly global scale.
Below, we'll take a closer look at 42 UK FinTech companies that have secured funding in the last 12 months. From digital banking and payments to regulatory technology and insurance, these companies are transforming the financial landscape and shaping the future of finance. We'll delve into the impact these companies are making in the industry. So whether you're an investor looking for the next big thing or simply curious about the FinTech scene in the UK, this is for you.
ADVFN (www.advfn.com) is an award-winning global stocks, shares and crypto information website providing market-leading financial tools and data to private investors around the world.
Offering real-time share prices, news feeds, charting, portfolio management, monitor lists, financials, data from global stock exchanges, Level 2 and the most active financial bulletin board in the UK (along with many other features), the site is the destination of choice for day traders and retail investors.
Recently named by The Times newspaper as one of the UK’s Top 20 fintech companies, Allica Bank is dedicated to serving and supporting small and medium businesses and empowering them to succeed. We combine modern, powerful technology with local relationships in the community to deliver expert banking for businesses in Britain.
Archax is a global, regulated, digital asset exchange, brokerage and custodian based in London. Founded by experts from the financial markets world and backed by an accomplished advisory board, Archax offers a credible bridge between the blockchain-centric crypto community and the traditional investment space.
Archax is the first ever firm to receive FCA regulation as a digital securities exchange, custodian and brokerage. It was also the first firm to be listed on the FCA’s Cryptoasset Register as a VASP (Virtual Asset Service Provider).
Argo Blockchain PLC (“Argo”) is a dual-listed (LSE: #ARB + NASDAQ: $ARBK), publicly traded blockchain technology company focused on large-scale Bitcoin mining. With sustainability as its top priority, Argo champions the use of renewable sources of power to support the growth and development of blockchain technologies. Argo also participates in several Web 3.0, DeFi and GameFi projects through its Argo Labs division, further contributing to the development of the cryptocurrency markets.
Atom Bank was the United Kingdom's first challenger bank built for smartphone or tablet, without any branches, and the first digital-only challenger bank to be granted a full UK regulatory license.
Bud’s AI platform drives highly personalised experiences for lending and money management. Bud makes every financial decision simple by turning transactional data into rich customer insight.
Bumper are the peace-of-mind car servicing platform. Dealerships can be daunting places. It’s hard to tell good workmanship from bad, and good advice from sneaky sales talk. So, when you’re handed a big bill it’s natural to feel uneasy. If only someone out there had your back. Say hello to Bumper. They started by making sure whoever you’re taking your car to is one of the good guys, with supreme standards and superb service.
Then, they found a way to free people from the burden of having to pay up front by making it simple and speedy to spread the cost, interest free. When taking care of your car is taken care of, just think what you could do. So, whether you’re a driver looking for a service you can trust, or a dealership doing things right, Bumper have got your back.
Using machine learning, automation, and natural language processing (NLP), FinTech startup CityFALCON transforms unstructured financial content into structured data, generates analytics, extracts insights, and delivers personalised data to users and clients via web, mobile, API, voice, and chatbot platforms.
Claimer makes R&D claims easy, reliable (HMRC-compliant), and fairly priced. On average our customers save £10k+ and 10 hours+ per claim. More than 350 venture-scale companies have trusted Claimer... such as Nested, Otta, Hubble, Fronted, and Unmind.
Financial institutions — from FinTechs and crypto platforms, to banks and credit unions — use ClearBank's API to offer their customers fully regulated banking infrastructure and real-time clearing access.
Colendi is a multifunctional banking as a service platform that democratizes banking services for consumers, merchants, and financial institutions to overcome the limitations associated with legacy banking. Colendi is moving forward with the goal of solving a chronic financial problem that directly affects more than three billion people who do not have bank accounts and more than five billion people who cannot get loans.
Colendi develops unique services based on scoring algorithms, combining new generation financial technology solutions utilizing artificial intelligence and big data. Together with its platform partners and strategic business allies, Colendi provides fast and easy access to loans with buy-now-pay-later model as well as other distinct financial services to 7M users as of today. By increasing users' literacy level, Colendi helps them save through micro-investment platforms.
Created to help with unexpected expenses, Creditspring is a membership loan service that makes borrowing simpler and cheaper for those in the UK. A single financial burden can put anyone in a tough situation where they may find themselves looking at toxic credit options. Creditspring’s goal is to protect people from getting into those situations with a reliable service that cares about your financial wellbeing.
Founded in 2016, Creditspring eliminates the confusion that comes with borrowing and makes it easier to understand. Benefits to having a Creditspring Membership include tips to build your credit, along with a monthly Financial Stability Score to see where you stand in terms of your financial wellbeing. Creditspring is a way for people to borrow safely, without falling into a spiral of debt. With no hidden fees, members know exactly what they owe upfront. This leaves more time to plan, to budget and to enjoy life stress free.
Winning Money Transfer Provider of the Year at the 2021 MoneyAge Awards, Currencies Direct stands out in the foreign exchange industry for its unique combination of payments technology and personalised support from a team of experienced professionals. Established in 1996 Currencies Direct was the first non-bank foreign exchange provider in Europe. Today we’ve helped over 425,000 customers, offering straightforward payments solutions to businesses operating in international markets. With detailed market insight and expert consultation, we help our customers mitigate the risks associated with currency exposure, make smarter currency management decisions and expand their businesses globally.
Fidel API is a global financial infrastructure platform that enables developers to build programmable experiences at the moment a transaction occurs on any payment card. Its tools are transforming how merchants and users interact by powering real-time, event-driven engagements, best-in-class loyalty and rewards programs and revolutionizing processes from reimbursements to expense management.
Fidel API is trusted by start-ups through global enterprises including Google, British Airways, TopCashback, Perkbox, Royal Bank of Canada, and Blackhawk Networks, and is supported by the world’s largest card networks, including Visa, Mastercard and American Express.
Finnovate Research deploys snappy presentation techniques to support financial institutions in scanning the universe of disruptive innovations and places them in context, to drive strategy. Their team consists of analysts with a deep understanding of the banking business, so you can trust the relevance and utility of the analysis and content that they deliver.
Finteum is creating a global financial market for bank treasurers to lend to each other for hours at a time (interbank intraday FX swaps, later planning to cover intraday repo and intraday securities borrowing).
Freetrade is an app that makes investing simple, and free. Their award-winning app was voted Best Share Trading Platform at the British Bank Awards 2019, 2020 and 2021. With over 1,000,000 users, They're growing fast.
Glenhawk provides swift, competitive short-term property finance, allowing clients to realise opportunities and progress developments. With deep experience in the real estate and financial worlds, Glenhawk has a unique understanding of its clients’ challenges and offers a simple, flexible approach that makes it the long-term partner of choice for short-term property finance.
Launched in 2012, GoHenry is a financial technology company with a simple mission to make every kid smart with money. The GoHenry [prepaid] debit card and financial learning app is designed for kids ages 6 - 18. Parent and child apps provide tools to help kids learn about money— by earning, saving, spending responsibly, giving, and more, all with parental oversight. In-app Money Missions offer a gamified, integrated financial education experience that offers a rewarding and fun way for kids to build financial literacy.
GoHenry is inspiring a global movement of over 1.5 million members who fiercely believe that being good with money is a vital life skill.
Hokodo are modernising the way businesses buy from each other by making it easier and safer to sell to business customers! Their “Trade credit as a service” technology empowers B2B merchants to offer credit terms to their business customers instantly, even on their first purchase. In turn, customers benefit from additional payment terms through a frictionless checkout experience.
Over 30% of B2B trade takes place on credit terms, with trade credit representing the largest source of business financing in advanced economies. Yet current processes for offering trade credit are outdated and not fit for the digital age. Hokodo’s digital platform solves these issues by offering merchants a powerful set of solutions to manage trade credit and scale with confidence. Merchants that integrate with Hokodo see on average a 40% increase in revenues.
Iwoca partner integrations and Lending API mean they can provide access to finance where and when small businesses need it. Their award winning credit risk engine helps them make faster, more accurate credit decisions built around the performance of the business.
They are proud to be NACFB Lender of the year, Xero Financial Services App of the year and, most recently, winner of the £10m Banking Competition Remedies grant.
Since 2012, iwoca have made funding available to over 50,000 businesses, from cafés to car dealers, salons to solicitors. But they’ve only just started. Their mission is to fund one million small businesses.
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Kroo is a challenger bank with a conscience. A bank built to change banking. For good. Forever. That’s built for today’s culture. And fit for today’s climate. A bank for good. Where people, planet, and profit can peacefully coexist.
Laka is an InsurTech challenging the norms in the insurance industry. They provide collective cover for cyclists. They won't charge you a fixed sum. Instead they calculate your monthly contributions - up to a max capped amount - based on the collective's claims. 80% of your money goes straight back into the collective: fixing, replacing, helping, whatever. And the other 20% keeps their wheels spinning.
Ledgy is the equity management platform built for growing companies that want to manage and look after shareholders. Get your cap table, employee participation plans and investor relations right, from start-up seed stage. They were founded in 2017 and the first ever Sequoia-funded startup in Switzerland.
Monese are a challenger bank reimagining the way banking works. They make it easy to manage your money – wherever you are in the world. They create financial freedom for all of us who live, work, travel, study or send money abroad.
They're a mobile app alternative to traditional banks, offering accounts you can open instantly so that you don’t lose access to the money you need every time you cross a border on a map.
Moneybox have brought saving, investing, home-buying, and retirement services together into one simple app. So people can reach their goals and build wealth with confidence, whatever their starting point.
They want to help people build wealth, but their mission goes beyond that. They believe that building wealth isn’t simply about accumulating more money. It’s about going after the life you want and enjoying it to the fullest, today and tomorrow. This is what Moneybox believe it means to turn your money into something greater.
Omnio, is a unique cloud-based banking-as-a-service platform for banks and corporates. They're a technology innovator working with clients across banking, retail and travel to implement specialised embedded financial solutions within their ecosystems.
They work collaboratively with clients to provide a range of added-value financial products into their existing customer journeys, enabling them to retain more wealth in their ecosystem, while improving customer engagement, satisfaction and loyalty.
Opensee is an award-winning fintech company that provides financial institutions with real-time big-data analytics solutions. Our mission is to empower business users to autonomously exploit data at unprecedented scale and granularity as well as tackle critical, large data-intensive use cases.
Opensee helps financial institutions improve their business requirements, such as risk monitoring, trade execution quality management, and helps them respond more effectively to regulatory reporting while achieving cost and operational efficiencies. We help transform your big data challenges into competitive advantages by bringing advanced analytics.
Penfold are an award-winning digital pension that gives you complete control of your savings so you can grow wealth and enjoy retirement. They're trusted by over 50,000 savers and have 4.6 out of 5 stars from over 500 reviews on TrustPilot.
Portabl are helping independent workers live happy, healthy and productive lives.
Independent workers are missing out on the resources, support and protection given to their employed peers. The Portabl community provides support, financial, insurance and wellbeing benefits, and a community to be a part of.
Ruleguard is an industry-leading provider of regulatory compliance solutions for the financial services industry. Their SaaS-delivered software platform Ruleguard has been designed to manage the complex and burdensome issues associated with regulatory compliance, especially when processes and procedures in place are manual and fragmented widely across multiple departments and systems.
Ruleguard has been designed to help you demonstrate and evidence compliance, by using its comprehensive rules-mapping, risk and control tools, automated reporting features and powerful dashboards. At its core, Ruleguard is a single unifying solution for all your compliance processes and procedures for managing your ongoing compliance.
SaaScada is a core banking engine which enables financial institutions to rapidly build and launch first class financial services.
The configurable, cloud-native platform of open APIs facilitates existing financial institutions and new entrants to launch digital banking services in as little as 12 weeks, at a low cost. It delivers a future-proof solution to product launches and innovation, providing clients with agility to rapidly create bespoke products and user experiences which can be launched seamlessly. A highly composable architecture creates an evolvable system which can be easily integrated with third parties. The multi-tenanted platform can be deployed anywhere in the world and has been designed from the ground up to minimize TCO.
Stable is the home of hedging. With over 300 untraded markets on the platform clients can protect themselves from volatile commodity prices in a simple, smart and safe way. Stable has worked closely with clients and partners to reimagine risk management.
Their simple and unique products are designed to change hedging forever. It all starts with lowering basis risk. Over the last 3 years they’ve added hundreds of indexes to their platform. These indexes are published by over 60 price reporting agencies from 70+ countries. The sheer variety and granularity of the 3rd party indexes mean that Stable is able to offer contracts that minimize basis risk wherever it originates from.
The one-stop money shop for your business. Swoop is here to simplify and speed up the process businesses go through to access grants, debt and equity. You can tap into their network of lending providers, equity funds and grant agencies. It's a quick and easy way to get the funding that best matches your needs. Swoop combines it's advanced matching algorithm with decades of funding experience to identify the best options for your business. They do the heavy lifting across the entire application process so you can focus on building your business.
TAINA is a Regulatory Technology business with a mission to help financial institutions comply with their regulatory requirements whilst dramatically improving their customers' experience, saving costs and reducing risks.
TAINA's focus is FATCA and CRS where it delivers the highest return on investment for its clients. Their FATCA and CRS platform provides seamless online and paper form validation for all types of FATCA and CRS forms with optional Qualified Intermediary logic including double tax treaties and withholding taxes.
TransFICC is an e-trading technology company, providing connectivity and workflow solutions for banks and asset managers operating in the Fixed Income and Derivatives markets.
Its "One API for eTrading" product provides clients with an alternative to maintaining connectivity with multiple e-trading venues. By delivering low-latency, scalable and secure connectivity, TransFICC resolves the issues of market fragmentation, market data throughput, and increased regulation.
Ukheshe is a market-leading FinTech enabler with a focus on changing the world of payments through the accessibility of disparate technologies. Through their Eclipse API, and by partnering with banks, telcos, financial services providers, they enable financial inclusion for their customers by providing tailor-made payment solutions.
Their one-of-a-kind Eclipse API enables you to customise your offering by meeting the needs of your FinTech proposition to deliver cost-effective, products and services for your customers. Since its inception, Ukheshe has reached 40 markets, 3 million apps use their API, onboarded 500,000 merchants, partnered with 18 banks and FinTechs, and processed over $15 billion.
Updraft is a part lending, part credit report, and part financial planning app for millennials. Their mission is to help people break up with their credit cards and better manage their money. They use your bank & credit profile to offer lower, fairer loan rates to pay off existing credit. Saving you time and money.
Greenwashing is so last year. Investors expect more from their "sustainable" investments. Util is the only organisation that provides evidence-based data to the largest asset managers in the world that answers the question: "is this company making the world a better place based on the products and services it sells?"
Sending disbursements, incentives, and non-cash payouts is manual, expensive, time-consuming, and error prone. WeGift changes this by removing friction from the payouts process, so businesses can instantly transfer value to build commercial relationships with the people they care about.
Operating in more than 30 countries, and dozens of languages and currencies, WeGift’s digital payouts platform and open API solution is directly integrated into every brand on its platform, offering corporate buyers the only true global network with direct access to more than 700 brands. Habito, Perkbox, Seated, Sodexo, Vodafone, and Vouchercodes all rely on WeGift to digitally engage their audiences.
Wenalyze help insurers and banks to validate, update & enrich the data of their commercial lines' clients with Open Data Analytics. They make underwriting and risk selection easy, fast, and accurate. Wenalyze only need your client’s business name and address to find updated information in several sources.
By incorporating the latest AI technology and Open Data Analytics you will be able to understand better your SME clients and get adapted to their needs in real-time.
YuLife's mission is to inspire people to live their best lives: financially, mentally and physically. They do this by delivering financial products that improve lives and reward wellbeing. Their flagship product is group life insurance that inspires healthy business by driving meaningful engagement and impact while solving real business pain as a powerful platform.
YuLife has fundamentally changed the nature of life insurance, creating an innovative new ‘win-win’ model which benefits individuals, businesses and society. Theirr all-in-one platform equips your team with a workplace wellness solution they value and use: staff wellbeing challenges, virtual GP, on-demand mental health, financial protection and rewards.
In conclusion, the UK FinTech sector has seen impressive growth in the past 12 months. The fact that so many companies have been able to secure funding in such a challenging economic climate is a testament to the strength and resilience of the UK FinTech industry. With the support of investors and the wider business community, these companies are poised to make a significant impact on the financial landscape, both in the UK and beyond. It will be exciting to see what the future holds for these companies and the wider FinTech sector as a whole.
Building AI-powered RecTech & Staff Augmentation Solutions for Tech Teams | BrightBox & RedNevada.AI
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