London is a prime location for fintech unicorns – including Revolut, Wise and Oaknorth.
Fintech companies are some of the most successful worldwide. A respectable 334 fintech unicorns being named in the 21st century alone, according to fintechlabs.com.
To save you a wade through the depths of the internet, here are ten London fintech firms you need to know about.
Banked
Founded: 2018
Investors: Insight Venture Partners, BACKED VC, Force Over Mass Capital, Love Ventures Kuvi Capital, Paul Forster, Acrew, OM2, Firestartr
Banked offers real-time payments for consumers, businesses and banks. It aims to improve customer experience, business efficiency and cost effectiveness.
It promises that businesses will increase conversion, reduce costs, manage fraud and risks and easily handle integrations.
Weavr
Founded: 2018
Investors: Tiger Global, QED Investors, Anthemis, Mubadala, Latitude, Headline, Seedcamp, Force Over Mass Capital, UFP Fintech
Weavr is a ‘plug-and-play’ finance platform, allowing you to enhance your digital business offering by adding embeddable financial products. No coding experience is required.
Plend
Founded: 2020
Investors: Ascension Ventures, Haatch, Active Partners, Velocity Juice, Sivo, Active Partners
Plend’s pledge is that they are ‘levelling the playing field’ on loans and making the whole process more inclusive. It’s a loans system that ‘gets to know the real you’ as opposed to assuming affordability based on ‘postcode, profession or past’.
Allica Bank
Founded: 2017
Investors: Atalya Capital, Warwick Capital, TCV
Allica is a ‘no-nonsense’ bank for more established businesses of 10-250 employees, with dedicated relationship managers all over the UK. It gives you the chance to earn over five per cent on your business savings.
Paddle
Founded: 2012
Investors: 83North, Kindred Capital, Notion Capital, FTV Capital
Paddle is a payment infrastructure for software companies that removes payment fragmentation for its 4,000+ customers. It promises to make your billing operations faster, safer and simpler.
Updraft
Founded: 2017
Investors: Quilam Capital, MoreThan Capital, Auluk Investments
Think of Updraft as a money management app for millennials, helping them to lower the cost of credit and make better decisions with their money.
Soldo
Founded: 2015
Investors: Accel, Dawn Capital, Connect Ventures, Sunley House Capital Management, Citi Ventures
Soldo is aiming to make reimbursements obsolete by combining secure company cards with a business spend management platform. It says that it can automate 80 per cent of your financial processes.
Apron
Founded: 2021
Investors: Index Ventures, Bessemer Venture Partners, Visionaries Club
Apron allows you to pay your suppliers. You can even pull all of your invoices together and batch-pay suppliers. Payments are automatically reconciled in your banking app.
Tandem
Founded: 2013
Investors: Quilam Capital
Grow, borrow, spend and share money in a greener way with Tandem, with the option of taking out mortgages, home loans, home improvement loans and motor finance. Tandem partners with the Loop app which helps you split and share money between loved ones more easily.
Form3
Founded: 2016
Investors: 83North, Molten Ventures, Goldman Sachs, Lloyds Banking Group, Nationwide Building Society, Barclays, Mastercard, Draper Espirit
Form3 is a payment technology platform that integrates across multiple payment schemes. It comes with scale-as-you-grow tech and keeps up with changing regulations to insulate you from changes to the broader payments landscape.
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