Fastest-growing companies in the UK | 2022

15 Fastest-Growing Companies in the UK | 2022

31 May 2022

By Sam Peckett

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The UK’s fastest-growing companies are an exciting cohort in the best of times, but especially during an economic downturn. Through the highs and lows of Brexit and the many lockdowns of the COVID-19 pandemic, several of the UK’s disruptive startups and scaleups have demonstrated an enviable growth rate.

Our intuitive data platform tracks 42k+ high-growth companies across the UK. Together, these ambitious businesses are driving economic growth and the development of next-generation technologies, and doing so at an astonishing rate. Now, we’ve used our data to compile a list of the UK’s 15 fastest-growing companies in 2022.

There are lots of different ways to measure company growth but we’re focusing on UK startups that saw the greatest turnover growth between 2020 and 2021. Each company on this ranking has met the following criteria:

From fintechs to e-commerce firms, read on to discover the fastest-growing companies in the UK, ranked in order of growth in turnover last year. 

01.

PrimaryBid

Sector: Fintech
Turnover in 2021: £4.95m
Growth in turnover (2020-2021): 3752%

The title of the UK’s fastest-growing company in 2022 goes to PrimaryBid. Headquartered in London, the fintech company connects companies raising capital to individual investors, allowing them to invest at the same time and price as institutional investors. On its LinkedIn, PrimaryBid describes itself as “THE platform for individuals looking to access IPOs as they go live”. 

PrimaryBid was founded in 2012 and, six years later, attended the Fintech Innovation Lab, Accenture’s 12-week accelerator programme. This was followed by Tech Nation’s Fintech accelerator in 2019 and Future Fifty 2021 accelerator. Sitting as one of Europe’s fastest-growing companies, PrimaryBid has grown its turnover by an impressive 3,752%, from £129k in 2020 to £4.95m in 2021. It has since secured a £140m equity funding round in February 2022, from investors including Molten Ventures and SoftBank Vision Fund, taking its total equity investment to £188m.

02.

Autograph Homes

Sector: Property/land development and construction
Turnover in 2021: £18.5m
Growth in turnover (2020-2021): 635%

Gloucestershire-based Autograph Homes builds and manages housing projects across the South West of England. Its real estate developments focus on creating characterful homes that match their locations, and are built with sustainable and renewable materials wherever possible, using low-carbon technologies to minimise environmental impact.

Founded in 2016, Autograph Homes received £2.8m in equity funding from the Housing Growth Partnership (HGP) in March 2017, to support its first two developments in Hambrook and Bristol. HGP’s objective is to address housing affordability in the UK, by supporting developers to build more homes. Last year, Autograph Homes grew its turnover by 635%, from £2.5m in 2020 to £18.5m in 2021.

03.

Yoti

Sector: Digital security
Turnover in 2021: £671k
Growth in turnover (2020-2021): 571%

Digital security company Yoti was founded in 2015 by co-founders Robin Tombs and Noel Hayden, and is headquartered in London. It develops online security and identification applications, using facial recognition to authenticate users’ identities. Yoti’s mobile app acts as a way to prove your identity both online and in person with your smartphone.

Yoti attended the Mayor’s International Business Programme accelerator in 2017, before featuring on the Regtech 100 in 2019an annual list of the world’s most innovative regulatory technology companies. Yoti has raised £41.4m in equity investment so far, across six funding rounds, the most recent of which was a £10m deal in August 2021. In the last year, the company’s turnover has increased by 571%, from £100k in 2020 to £671k in 2021.

04.

Tactus

Sector: Advertising and branding services
Turnover in 2021: £41.9m
Growth in turnover (2020-2021): 422%

Founded in 2014, Cheshire-based Tactus is a B2B company that offers design, development and branding for products in the technology sector. Helping to bring new products to market, the company’s key focus is on the gaming sector. It acquired online gaming and technology retailer Box in March 2022, at a valuation of £100m, alongside CCL Computers, BIST Group and Chillblast in 2021.

As well as several debt fundraisings from lenders, Tactus has raised £64.7m worth of equity investment, across seven rounds. The company’s backers include Chrysalis Investments, Arete Capital Partners, Downing and Manchester-based venture capital firm Praetura Ventures. Tactus has achieved impressive growth over the last year, increasing its turnover by 422%, from £8.02m in 2020 to £41.9m in 2021.

05.

RecruitHub

Sector: Recruitment agencies
Turnover in 2021: £454k
Growth in turnover (2020-2021): 333%

Founded in 2018, RecruitHub helps recruitment companies to launch and scale, including investment support, software products and outsourced services. Outsourced services on offer include marketing, cybersecurity, finance management and advisory support, helping founders to stay focused on sales growth to scale their agencies and small businesses.

Based in London, RecruitHub has raised £150k in equity investment so far, from a single unannounced round in June 2021. Last year, the startup grew its revenue by 333%, from £105k in 2020 to £454k in 2021.

 

06.

Adaptix

Sector: Medical instrumentation
Turnover in 2021: £854k
Growth in turnover (2020-2021): 318%

Adaptix has developed a portable, low-dose 3D X-ray device, helping to make X-ray imaging more widely available and portable in healthcare settings. The company’s vision is to allow more accurate diagnosis at the point of care, allowing patients to have X-ray imaging at their bed-side, chair-side and eventually in ambulances.

Oxfordshire-based Adaptix was part of the 2017 cohorts for the ELITE Programme accelerator and the Royal Academy of Engineering’s SME Leaders Programme. In 2018 and 2020, the company was also featured on the Game Changers high-growth list, before attending the European Space Agency Business Incubation Centre in 2021.

The business has been awarded a long list of innovation grants, totalling £5.86m, and has raised a further £15.3m in equity investment, across 16 fundraisings. Investors include SyndicateRoom, Par Equity and Scottish Enterprise. Adaptix achieved impressive turnover growth last year, increasing 318% from £204k to £854k.

07.

HANetf

Sector: Fintech
Turnover in 2021: £5.14m
Growth in turnover (2020-2021): 310%

HANetf is a London-based fintech company that was founded in 2017. It offers a web platform that allows investors to buy and sell exchange-traded funds (ETFs). ETFs pool together money from numerous investors to access multiple assets, allowing investors to diversify their stock market portfolios for a lower price. HANeft works with assessment management groups to provide differentiated and innovative ETFs to investors.

In total, HANetf has raised £8.87m in equity investment, across four funding rounds. The company’s backers include Elkstone Capital, Point72 and Third Stream Partners. HANetf saw impressive turnover growth between 2020 and 2021, increasing 310% from £1.25m to £5.14m.

08.

Fixed Phage

Sector: Pharmaceuticals
Turnover in 2021: £370k
Growth in turnover (2020-2021): 263%

Next in our list of the UK’s fastest-growing companies is Fixed Phage. The Glasgow-based pharmaceutical company has developed a way to store and transport bacteriophages (or phages), a type of virus that target, infect and replicate within specific bacterial cells. Being harmless to humans, animals and plants, phages offer a natural, renewable way to remove unwanted bacteria.

Fixed Phage’s innovative technology allows phages to be used in treating bacterial infection across the food production and healthcare industries. Founded in 2010, the University of Strathclyde spinout has gone on to secure at least £30k in innovation grants and £8.51m worth of equity investment, across 18 rounds. Its investors include Barwell, London & Scottish Investment Partners, Scottish Enterprise and individual angel investors. Fixed Phage grew its turnover by 263% last year, from £101.7k in 2020 to £370k in 2021.

09.

Enesi Pharma

Sector: Medical devices
Turnover in 2021: £674k
Growth in turnover (2020-2021): 249%

Founded in 2017 and based in Oxfordshire, Enesi Pharma develops vaccination products. Its ImplaVax technology allows needle-free vaccination delivery, so that vaccinations can be delivered with minimal training, helping to deploy treatments faster. 

The company works with government agencies and academic institutions worldwide to improve global healthcare, focusing primarily on common and emerging infectious and inflammatory diseases. In 2020, Enesi Pharma collaborated with Imperial College London to develop thermostable RNA vaccines for use in the COVID-19 pandemic, aiming to eliminate the need to transport the vaccine at low temperatures throughout the supply chain.

Enesi Pharma has also secured £18.5m worth of equity funding so far, plus an additional £870k Innovate UK grant. It grew its turnover from £193k in 2020 to £674k in 2021—an increase of 249%.

10.

CMR Surgical

Sector: Medical devices
Turnover in 2021: £23.7m
Growth in turnover (2020-2021): 212%

CMR Surgical has developed Versius, a surgical robot to help improve surgical care. The unicorn company works with surgeons, surgical teams, healthcare professionals and hospitals to help make robotic surgery more accessible and affordable. Founded in 2014 and based in Cambridge, CMR Surgical saw 212% turnover growth last year, up from £7.6m in 2020 to £23.7m in 2021.

Having featured on the Start-Up 101 ranking back in 2017, the company has since been included on several other high-growth lists, including: 21toWatch, SyndicateRoom’s Top 100 of Britain’s Fastest Growing Businesses in consecutive years, BusinessCloud’s MedTech 50 and 100 HealthTech Pioneers. It has raised a total of £743m in equity investment, across nine fundraisings, the latest of which was a £425m round led by the Ally Bridge Group and SoftBank Vision Fund.

11.

NURVV

Sector: Wearables
Turnover in 2021: £388k
Growth in turnover (2020-2021): 196%

Wearable tech company NURVV was founded in London in 2015. It has developed smart insoles for running shoes, allowing users to measure and improve their running performance based on the impact of their feet. The insoles have 32 sensors, bringing data to users via their free coaching app, with the Financial Times commenting that it “eclipses all other running-analysis gadgets”.

NURVV’s technology also has healthcare applications, allowing medical professionals to remotely monitor walking movement patterns to support injury diagnosis and rehabilitation. The company has raised £6.93m in equity investment, via a single funding round with Hiro Capital. NURVV has seen their turnover increase by 196% between 2020 and 2021, growing from £131k to £388k.

12.

Alloyed

Sector: Materials technology
Turnover in 2021: £1.48m
Growth in turnover (2020-2021): 187%

Alloyed develops and manufactures alloy metals for use in the aerospace, defence and automotive sectors, as well as for electronic and medical devices. The company’s unique alloy design process allows it to provide clients with customised metal solutions for demanding use cases. It acquired London-based tech company Betatype in late 2019.

Spun-out of the University of Oxford in 2017, Alloyed has been awarded seven innovation grants so far, worth £1.57m in total. The company has raised a further £45.2m in equity funding, from four deals, including investment from Oxford Sciences Enterprises. Last year, Alloyed showed impressive growth, increasing its turnover by 187%, from £514k in 2020 to £1.48m in 2021.

13.

Kyma Capital

Sector: Business banking and financial services
Turnover in 2021: £835k
Growth in turnover (2020-2021): 176%

Founded in 2018, Kyma Capital is a London-based investment firm. It focuses on secondary securities for private equity firms and corporations, such as investors buying stocks from other investors, rather than directly from a company floating on the stock market.

Kyma Capital’s Founder and Chief Investment Officer, Akshay Shah, was previously a Senior Managing Director at Blackstone. Headquartered in New York, the investment company operates in both leveraged buyouts and commercial real estate. 

In total, Kyma Capital has raised £470k in investment, across three equity funding rounds. The company saw impressive turnover growth of 176% last year, increasing from £302k in 2020 to £835k in 2021.

14.

Beauty Pie

Sector: E-commerce
Turnover in 2021: £39.8m
Growth in turnover (2020-2021): 174%

Beauty Pie is an e-commerce business that sells skincare and makeup products directly to customers from the factories they’re made in. In doing so, the company is able to shorten supply chains and reduce the prices of its products. 

Beauty Pie has developed a strong social media presence, and operates a subscription model in which users pay an annual fee to receive their heavily discounted prices. It was started by Marcia Kilgore, the founder of high-growth beauty company Soap & Glory and one of the world’s leading female entrepreneurs

Across four equity fundraisings, Beauty Pie has raised a total of £126.4m, from venture capital funds such as Index Ventures, Balderton Capital and New York-based Insight Partners. In 2021, Beauty Pie achieved turnover of £39.8m, up 174% from 2020.

15.

Kinomica

Sector: Precision medicine
Turnover in 2021: £452k
Growth in turnover (2020-2021): 165%

Rounding off our list of fastest-growing companies is Kinomica, a precision medicine research and diagnostics company. Founded in Cheshire in 2016, it has developed the KScan, which can predict how patients with acute myeloid leukaemia (AML) will respond to a particular treatment drug called midostaurin. By predicting the drug’s effectiveness, Kinomica enables healthcare professionals to make better judgements on treatment plans for patients, with the potential to improve their outcomes.

Kinomica received a £472k Innovate UK grant in July 2019, and has secured two equity funding rounds, worth £4.4m in total. Investors include Longwall Ventures, Alderley Park Ventures and BGF. The company’s turnover has grown by an impressive 165% over the last year, from £171k in 2020 to £452k in 2021.

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