33 Top Tech Startups in the UK | Ranked

| Hannah Skingle

Category: Tech & innovation

There’s no denying it, UK tech startups are on an incredible growth trajectory, and are showing no signs of slowing, with £17.8b of equity investment raised between January and October 2021. 

Despite the double incursion of Brexit and the coronavirus pandemic, and the lockdowns that came with it, the United Kingdom (specifically London) remains the top hub for tech companies in Europe—particularly for those businesses operating in fintech and machine learning. 

As well as access to world-class venture capital funds and angel investors in the Capital, tech entrepreneurs also benefit from a booming startup ecosystem of accelerator programmes and business networks (that gives Silicon Valley a run for its money). So who were the leading UK tech startups in 2021, and which companies should you keep an eye on in 2022?

There are many ways to measure startup success. Here, we’ve ranked the top 33 UK tech companies, based on their total value of venture capital funding received to date. Whilst we can’t tell you if they’ll be the most successful tech startups, this metric does reveal some of the most high-potential businesses in the country. Investors think these tech companies have plenty of growth ahead of them, putting their money where their mouth is and offering them the capital to realise their business plans. So, if you work with ambitious startups and scaleups, then these 33 companies should all be on your radar. 

Want to download the full list of top tech startups (as a spreadsheet) so you can conduct your own analysis?

List of Top Tech Startups in the UK 2021

  • Revolut
  • SumUp
  • Hopin
  • CMR Surgical
  • OneTrust
  • Snyk
  • Checkout.com
  • Starling Bank
  • Truphone
  • Zepz
  • Graphcore
  • Atom
  • Zopa
  • Monzo
  • Improbable
  • SaltPay
  • Bought By Many
  • Blockchain.com
  • Africa Mobile Networks
  • PaymentSense
  • OVO Group
  • BenevolentAI
  • Patsnap
  • Zenobe
  • Quanta
  • Artios Pharma
  • Matillion
  • 10x Banking
  • Thought Machine
  • TrueLayer
  • Smart
  • Soldo
  • Quantexa
Revolut company logo

Revolut

Total funds raised: £1.27b

Revolut is one of the UK’s leading challenger banks, and self-proclaimed ‘global financial superapp’. Having first launched in the UK in 2015, with a money transfer and exchange service, the fintech business now offers personal and business accounts, the ability to trade crypto currencies, and a range of other financial services (such as bill splitting, insurance and junior accounts). The mobile app currently processes more than 100m transactions per month. 

On a mission to become ‘the Amazon of banking’, Revolut was founded by Nikolay Storonksy (CEO), who has since become the UK’s first tech billionaire, and Vlad Yatsenko (CTO). All in all, the London-based tech company has raised a staggering £1.27b, over 10 funding rounds, making it the best-funded tech company in the UK. 

Its latest round of investment, in July 2021, totalled $800m (£578m) and included participation from Tiger Global Management, Softbank and Schroders. Far surpassing the $1b valuation needed to be considered a unicorn company, this round valued Revolut at $33b. It’s intended to fund further product development and expand marketing efforts, particularly in the US and India. The fintech company currently has offices in Berlin, Singapore, and New York.

SumUp

Total funds raised: £961m

Financial technology company SumUp develops a payment processing system for small businesses. Its smart device allows business owners and merchants to accept card payments in-store, online, and via an app, in a cost-effective and secure manner. As well as facilitating payments, SumUp also provides administrative features, such as tracking sales and taxes, and storing digital receipts. But the company isn’t stopping there, having launched multiple new products in the last year, including SumUp Invoices and Mobile Payments.  

Founded in 2011, SumUp has secured a total of £961m, across seven funding rounds, and is backed by a whole host of funds, from the corporate venture capital arm of American Express to Bain Capital, Goldman Sachs and Temasek. Its latest investment round took place in March 2021 and totalled £644m. One of the few companies in this ranking to be operating at a profit, in the midst of the pandemic in 2020, SumUp reported a turnover of £144m, an operating profit of £190k, and an EBITDA of £214k.

Hopin

Total funds raised: £743m

Hopin operates a platform that allows businesses to create virtual, hybrid or in-person networking events. Users can host large-scale events that are public or private, and can apply company branding to the online venue. Hopin also offers plenty of tools for networking, such as brainstorming sessions, the ability to give out virtual business cards, and a connection discovery tool to pair people up for discussion. The company’s aim is to recreate the in-person event experience as closely as possible online. 

Founded in 2019, and one of the UK’s most successful startups during the pandemic, Hopin has already raised £743m since January 2020, over six funding rounds. The tech company is backed by an incredible roster of venture capital funds, including Accel Partners, Andreessen Horowitz (a16z), Northzone Ventures, Seedcamp and Tiger Global. Hopin reached unicorn status in November 2020, breaking the record to become the youngest UK company to surpass a billion-dollar valuation. In fact, its latest round in August 2021, totalling £324m, valued the company at almost $8b.

Have you read our report on the UK’s most valuable companies yet?

CMR surgical logo

CMR Surgical

Total funds raised: £743m

CMR Surgical is a Cambridge-based technology company that develops robotics, for use in surgical procedures. The company has so far raised £743m to fund its ambition of making laparoscopic (keyhole) surgery available to millions more people every year. 

CMR Surgical’s most recent fundraise, which took place in June 2021, totalled £432m and valued the company at £1.49b pre-money. Now in the Growth stage of evolution, the tech startup is backed by Cambridge Innovation Capital, GE Healthcare, LGT Capital Partners, Softbank Vision Fund and Tencent, alongside several other investors.

OneTrust

Total funds raised: £699m

Cybersecurity giant OneTrust uses AI and robotic automation to develop software that helps users manage their privacy, compliance and third-party risk via an online platform. The artificial intelligence company hit the ground running with equity investment, raising a £160m megadeal in 2019, when just three years old. 

Two years later, the fast-growing startup has secured £699m in total, across four rounds, at a reported valuation of $5.3b. OneTrust’s investors include Insight Partners, Coatue Management, Softbank Vision Fund, Franklin Templeton and Technology Crossover Ventures (TCV), among others. The company counts more than half of the Fortune 500 as clients, and is co-headquartered in London and Atlanta, with additional offices in Bangalore, San Francisco, New York, Paris and Hong Kong.

Snyk logo

Snyk

Total funds raised: £692m

The second cybersecurity startup to make the ranking, fellow unicorn company Snyk develops tools that alert users and help fix security vulnerabilities in their open-source coding. Based in both London and Boston, the company has worked with Microsoft, Mastercard, Salesforce and Google.

So far, Snyk has raised investment from Tiger Global Management, Accel, Google Ventures and Salesforce Ventures. The fast-growing technology company has raised a total of £692m in investment, across 11 funding rounds, and is valued at more than £4b.

Checkout.com

Total funds raised: £631m

Fintech startup Checkout.com develops software that allows businesses to process its payments online, in multiple currencies. Simplifying a previously lengthy and convoluted operation, Checkout.com’s software is fully customisable, allowing users to quickly process popular regional payment methods. Users are protected against fraud and provided with data insights to help them stay on top of their finances. The tool is used by businesses of all sizes—from small businesses to larger corporations. 

Checkout.com’s payments platform covers hundreds of currencies and has notable users, such as Deliveroo and Adidas. It has offices across the world, including in Europe, North America and Asia. One of the fastest-growing fintech companies in the UK, Checkout.com was valued at over $5.5b by its Series B funding round, and has since been valued at more than $15b. With £631m of equity investment under its belt, Checkout.com’s backers include Blossom Capital, Tiger Global, Digital Sky Technologies and Insight Partners.

Starling Bank

Total funds raised: £585m

The second challenger bank to make the ranking of top tech startups, Starling Bank provides a mobile-based current account, which allows users to track finances in real-time. Starling offers personal, joint and business accounts, and provides flexible overdrafts, whilst utilising data visualisations to aid in budgeting. Customers’ money is covered for up to £85,000 by the Financial Services Compensation Scheme.

The female-founded fintech company, which was set up by former IT executive and digital banking pioneer Anne Boden and her co-founder Mark Winlow. As well as a female founder, Starling also has the most gender-balanced senior leadership team in this ranking—48% of the tech company’s key people are women. And it’s been named the Best British Bank in 2018, 2019, 2020 and 2021, with nearly 1m customers.

A regular feature on high-growth lists such as the FinTech50 and LinkedIn Top Startups UK, Starling Bank has secured £585m of equity finance to date, across eight rounds. It joined the UK unicorn club in March 2021, after turning its first monthly profit in October 2020, during the pandemic. 

Truphone

Total funds raised: £555m

Headquartered in London, Truphone provides a mobile communication network which can be accessed using a SIM card or app. A champion of digital mobility since 2001, the scaleup company has seen steady growth over the past decade. 

With a 41% overall turnover growth between 2016 and 2019, Truphone most recently reported a turnover of £46.9m in December 2020. And since 2008, the tech startup has secured £555m worth of growth capital from Minden Worldwide Vollin Holdings and other, undisclosed investors.

Zepz logo

Zepz

Total funds raised: £528m

Formerly named WorldRemit, financial technology company Zepz develops an online platform which enables migrants and expats to send remittances to family and friends abroad. To date, the fintech firm has raised £528m in investment, across 10 rounds, with backing from Silicon Valley Bank, Accel Partners, and TriplePoint. 

Zepz is one of the UK’s most recent unicorn companies, having secured a £3.38b valuation in August 2021. Founded in 2009, by entrepreneurs Ismail Ahmed, Richard Igoe and Catherine Wines, Zepz is one of just five female-founded unicorn companies, and one of two black-founded unicorns in the UK. Wines sadly passed away in 2020, following a battle with pancreatic cancer, which she spoke openly about in order to “demystify the condition”.

Graphcore

Total funds raised: £528m

Graphcore has developed a processor that’s optimised for machine learning tasks, and technology to accelerate artificial intelligence (AI) applications, both in servers and in the Cloud. The company also provides an open source machine learning development framework in C++ and Python. Graphcore’s clients are operating in industries such as finance, healthcare, robotics and telecommunications.

One of the United Kingdom’s top AI companies, Graphcore has over 400 employees, based in offices across the UK, United States and Asia. But it’s headquartered in Bristol, which is a global hub for chips and processor businesses. Founded in 2016, Graphcore has secured £528m in investment, across seven funding rounds, with backing from a huge roster of venture capital funds. These include Amadeus Capital Partners, Atomico, C4 Ventures, Merian Chrysalis, Fidelity International, Sequoia Capital and Draper Esprit.

Atom logo

Atom

Total funds raised: £522m

Founded in 2014, as one of the UK’s first challenger banks, Atom develops digital-only retail banking and financial services, including business loans and competitive mortgage and savings rates. One of just two companies in this top startups ranking to be based in the North of England, Atom is headquartered in County Durham. 

Atom has featured on multiple high-growth lists so far, including the London Stock Exchange Group’s ‘1000 Companies to Inspire Britain’. The fintech startup has secured £522m of investment to date, across 13 funding rounds, and most recently reported a turnover of £42.3m in March 2021.

Zopa logo

Zopa

Total funds raised: £516m

Zopa operates a peer-to-peer (P2P) lending site, with the aim of making simple, fair and honest financial products. A pioneer in the world of P2P finance, Zopa has been around since 2005. Customers have their money spread across individual borrowers, and direct debit repayments are enforced to mitigate risk. Borrowers can apply for personal loans from £1k to £25k, as well as credit cards and car financing. 

In August of last year, Zopa launched fixed-term savings accounts, after being granted a full banking licence in June 2020. The company has secured £516m worth of growth capital so far, across 13 funding rounds. Its investors include Augmentum Fintech, Balderton Capital, Softbank Vision Fund and Forward Partners. Zopa is rumoured to be eyeing an initial public offering (IPO) in Q4 2022. 

Monzo

Total funds raised: £494m

Yet another bank to make the top tech ranking, Monzo is one of the UK’s best known fintech companies and challenger banks. Its services can be accessed via a mobile app, where users can track and budget their money, instantly open a savings account, and access loans. Monzo also has numerous partnerships with other high-growth firms, including a bill-splitting feature for food delivery giant Deliveroo. 

Monzo currently has over 3m users, and is fully authorised and regulated by the PRA and FCA. With more than 800 employees in Cardiff and London, the company has raised £494m worth of investment, across 14 funding rounds. Its investors include Accel Partners, Crowdcube, Passion Capital, Stripe, and Y Combinator.

Following a 40% drop in its valuation in May 2020, Monzo now seems to be back on its feet and growing in both headcount and turnover. Although, it’s also moving increasingly into the red, with a reported operating profit of £130m in 2021. Rumours are currently circulating that the fintech company is looking to raise a further £300m, at a valuation of roughly £3b.

Improbable

Total funds raised: £461m

Improbable develops infrastructure software for virtual worlds and interactive environments, with applications in multiplayer games or synthetic environment simulation for governments. Founded in 2012, the tech startup secured £461m between 2015 and 2018, across five funding rounds. Notable investors include Andreessen Horowitz (a16z), Horizons Ventures, Softbank Vision Fund and Temasek. 

Improbable hasn’t secured any further investment in the past three years, reporting an operating profit of -£125m in 2020. The London-based tech company has, however, made three acquisitions, buying both American firm Midwinter Entertainment and British startup The Multiplayer Guys in September 2019, and German tech startup Zeuz in February 2020.

SaltPay

Total funds raised: £358m

SaltPay develops payment processing and point-of-sale technology for small businesses and merchants, with the aim of making fast and secure payment systems. SaltPay’s products are built to support private businesses at each stage of their growth, by offering an ecosystem of services to automate operations and grow profits. 

Founded in 2019, the e-commerce and fintech company is the youngest startup to make this ranking of the UK’s top tech startups. Yet it already has more than 1k employees, based in 14 offices and 12 countries, across Europe and Africa. SaltPay reached the $1b unicorn valuation mark in April 2021, in a round that totalled £358m. Backers include Base Partners, Hedosophia and Tiger Global.

Bought by Many

Total funds raised: £357m

Insurtech Bought By Many launched in 2011, to offer bespoke and well-priced pet insurance, in a sector that it believed treats consumers poorly. The company uses data and social media messaging to identify problems with existing insurance, off the back of which they develop their own insurance plans. 

The insurance technology startup offers six different pet insurance plans, all of which provide lifetime cover and unlimited free video calls with FirstVet. They have no hidden charges or penalties, and will contact the vet for you to claim, as well as producing insurance guides to increase understanding for pet owners. 

Bought By Many was voted the Best Pet Insurance Provider in the 2020 Insurance Choice Awards. In 2015, it launched a SaaS platform in China and, following its fourth funding round in 2017, the firm launched Bought By Many Cat + Dog insurance, underwritten by Great Lakes Insurance SE. To date, Bought by Many has raised over £357m, across eight rounds.

Blockchain.com

Total funds raised: £356m

Blockchain.com develops an online crypto wallet, and provides a range of search tools, stats and charts for the cryptocurrency markets. The fast-growing blockchain tech company was an early pioneer of essential infrastructure for the Bitcoin community, with both a Blockchain Explorer and an API that allowed businesses to build on Bitcoin. 

The company even has its own subsidiary fund, Blockchain Ventures, which invests in innovative distributed ledger technology. Another top tech startup based in London, Blockchain.com has secured £356m of investment so far, across four rounds. Its backers include Baillie Gifford, GV (Google Ventures), Digital Sky Technologies, Mosaic Ventures and Lakestar.

Africa Mobile Networks

Total funds raised: £331m

Africa Mobile Networks (AMN) is a technology company that develops, operates and maintains infrastructure to help mobile operators improve network coverage across Africa. The company’s Network-as-a-Service (NaaS) model allows Africa’s tier-1 operators to expand their coverage into rural areas in an economical and sustainable way. 

Although based in the South East of England, AMN is aiming to connect small towns and villages in almost every country in Sub-Saharan Africa, and currently operates over 1k base stations in 12 countries. To date, the UK startup has raised £331m of growth capital, across five rounds, with backing from CDC Group, DEG Invest, Mauritius Commercial Bank, Metier, and Minerva Business Angels. It’s one of just three companies in this ranking to have a female founder.

PaymentSense

Total funds raised: £329m

PaymentSense provides credit and debit card machines and payment processing software to small and medium-sized businesses. The tech company’s software also allows users to create and analyse sales reports. As one of the fastest-growing fintechs across the whole of Europe, PaymentSense is a true challenger, and is actively ‘taking on the big banks’. With over 70k small business customers in the UK and Ireland, the startup has grown its operating profits from -£1m in 2014 to £11.4m in 2021. 

Since 2010, PaymentSense has secured £329m worth of investment, across four funding rounds. The company’s most recent capital injection was in 2018, when it secured a £218m loan from CVC Capital Partners and EQT Mid-Market Credit Fund. But PaymentSense’s last equity round, and thus its latest public valuation, was in 2014, when it stood at £47.9m post-money. Tipped to be a so-called ‘soonicorn’ company, PaymentSense will have to complete a new equity round or exit event in order to confirm its billion-dollar valuation.

Have you read our report on the UK’s most valuable companies yet?

Ovo energy

OVO Group

Total funds raised: £259m

OVO Group comprises a number of green energy companies, including OVO Energy, which supplies renewable electricity. Its aim is to tackle climate change to create a world without carbon emissions. As one of the global pioneers in transitioning energy supplies from fossil fuels to more sustainable sources, OVO Group is the second Bristol-based company to make this list and reach unicorn status, after artificial intelligence startup Graphcore. 

Founded in 2008, OVO Group has secured £259m in investment so far, across six rounds. Its latest and biggest round, secured in February 2019, saw Mitsubishi Corporation invest £200m, at a £1.04b pre-money valuation. The renewable energy firm has also secured four innovation grants, totalling £1.29m, and acquired three other startups: US-based VCharge in February 2017, CORGI HomePlan in May 2017, and SSE in January 2020. 

OVO Group is the only tech company on this ranking to be generating a turnover in the billions, with an impressive £1.45b reported in 2019. Rumours have also been circulating that OVO may decide to acquire fellow green energy company Bulb, following its struggle to stay afloat amidst the UK energy crisis.

BenevolentAI

Total funds raised: £253m

Camden-based BenevolentAI develops artificial intelligence and machine learning technology that aims to speed up scientific discovery through mass data analysis. The company aims to enable scientists to explore interconnected disease networks in order to discover new and better treatments. Its core offering is the BenevolentAI platform, a computational R&D software. 

BenevolentAI has two offices in the United Kingdom, in London and Cambridge, and one in New York. Since being founded in 2013, the healthtech company has secured £253m over four rounds, with backing from Temasek and Woodford Investment Management. It reached unicorn status in 2015, when it was just two years old, making it one of the UK’s fastest-growing startups in terms of valuation growth.

Most recently, BenevolentAI adapted its business model to use its AI platform to respond to the coronavirus pandemic. Its search for an existing drug to treat COVID-19 led to a clinical trial with Eli Lilly and the US National Institute for Allergies and Infectious Diseases.

PatSnap

Total funds raised: £251m

PatSnap uses machine learning technology to develop an online platform through which subscribers can access data on intellectual property (IP) patents. With more than 800 employees, spread across three continents, and more than 10k customers, the SaaS company aims to make the process of innovation easier, faster and more efficient.

PatSnap reached unicorn status in March 2021, with the completion of its $300m (£217m) funding round, led by SoftBank Vision Fund II and Tencent Investment. Since being founded in 2007, PatSnap has secured a total of £251m for its patent analytics platform, across four funding rounds. Its backers include Sequoia Capital, Vertex Ventures, and Summit Partners.

Zenobe

Total funds raised: £248m

Zenobe operates a range of battery storage facilities and charging points for electric vehicles (EV). The tech company is also working on EV fleet projects. Its mission is to make clean air available to everyone and to accelerate the uptake of green vehicles and power generation. Not only will this result in huge environmental benefits, but also financial benefits. 

Founded in 2016, London-based Zenobe has already raised £248m worth of investment for its cleantech solutions. This capital was secured across six funding rounds, and saw participation from Infracapital, Jera, Mayor of London’s Energy Efficiency Fund (MEEF), and NatWest.

Quanta

Total funds raised: £246m

Quanta develops portable haemodialysis devices, to improve the experience of dialysis in both clinical and home treatment settings. The medical technology company was founded in 2008 by CEO John Milad, and is based out of Stratford-upon-Avon.

So far, the scaleup has secured £246m worth of growth capital, £176m of which was raised in June 2021. This latest funding round valued the company at £201m pre-money, and included participation from BlackRock, Glenview Capital, Novo Holdings and Wellington Partners. The funding will be used to accelerate the commercialisation of Quanta’s SC+ Portable Hemodialysis System.

Artios Pharma

Total funds raised: £245m

Artios Pharma develops breakthrough treatments that target DNA Damage Response (DDR) pathways to kill or weaken cancer cells. The pharmaceutical and precision medicine company is based in Cambridgeshire, at the Babraham Research Campus. It was founded in 2016 and is still in its early stages of growth, carrying out research and development for innovative products. As an R&D intensive business, Artios Pharma has already secured £245m of finance, through five funding rounds. 

Now one of the UK’s top healthtech companies, Artios Pharma has a long roster of  life sciences-focused funds on its cap table. These include Arix Bioscience, Avidity Partners, Deep Track Capital, IP Group, LSP Life Sciences Fund, Novartis Venture Fund, Pfizer Venture Investments, and Piper Heartland Healthcare Capital.

Matillion

Total funds raised: £226m

A new addition to the UK’s unicorn herd, Matillion develops tools for data integration and transformation for cloud data warehouses, as well as providing analytics and reporting software. The Manchester-based technology company is building a low-code system that allows companies to better manage their data, making it cost-effective and scalable to generate important insights. 

Founded in 2010 and now in the Growth stage of evolution, Matillion has secured £226m in investment, across five funding rounds. Featured on its cap table are Battery Ventures, General Atlantic, Lightspeed Venture Partners, SVB Capital, Sapphire Ventures, and Scale Venture Partners.

10x Banking

Total funds raised: £223m

10x Banking develops an open banking platform for the financial services industry, powered by cloud-native technology. The company is working to make traditional banking 10 times better for banks, consumers, and society. Its products enable client banks to give their customers real-time insights and more relevant experiences.

The fintech startup was founded in 2016, and has since gone on to raise £223m worth of investment. This capital was raised across four funding rounds, and includes backing from BlackRock, JPMorgan Chase & Co, Nationwide Ventures, and Oliver Wyman. 10x Banking’s latest turnover figure, reported in December 2020, stands at an impressive £66.4m.

Thought Machine logo

Thought Machine

Total funds raised: £219m

One of many London startups on our list, Thought Machine develops a retail banking software called Vault, which provides a cloud-based, end-to-end operating system, enabling banks to centrally manage their financial products. The fintech startup aims to solve the banking industry’s reliance on outdated IT infrastructure, which cripples innovation, and provides the foundations for a more cost-effective way of operating.

Thought Machine works with banks of all sizes, from Tier 1s to challengers, such as Lloyds, Atom (another company on this list of top tech startups) and TransferGo. Founded in 2015, it has featured on the FinTech50 high-growth list, and raised a total of £219m to date, across seven funding rounds. Its investors include Backed VC, British Patient Capital, Draper Esprit, IQ Capital, Playfair Capital and SEB Venture Capital.

truelayer logo

True Layer

Total funds raised: £202m

True Layer provides ‘smarter financial services’ to companies in industries such as edtech, e-commerce, and  crypto. It develops APIs for businesses to connect mobile apps and other websites to banking infrastructure. This, in turn, provides users with access to clean and standardised data of their customers’ accounts, and allows them to integrate payments and financial data into their products. 

The fintech startup’s products include a payments API, which uses open banking to make instant payments, a data API to connect your app to any bank account, and PayDirect which brings verification and payments together. With customers such as Revolut and Zopa, TrueLayer’s platform currently receives 50% of open banking traffic in the United Kingdom, Ireland and Spain. 

To date, TrueLayer has raised £202m worth of investment, across eight funding rounds. It’s backers include the likes of Anthemis Group, Connect Ventures, Northzone Ventures, Stripe, and Tiger Global Management.

Smart Pension

Total funds raised: £197m

Smart Pension has developed an online tool that allows small businesses in the UK to manage the automatic enrolment of their staff into a workplace pension scheme. Its mission is to transform retirement, savings and financial wellbeing across generations, and provide its services to workers all around the world. The Smart Pension Master Trust was authorised by The Pensions Regulator in 2019.

Founded in London in 2014, Smart Pension has raised a total of £197m in investment so far, via eight funding rounds. The fast-growing technology company’s investors include big name venture capital and CVC funds Chrysalis Investments, Deutsche Bank, J.P. Morgan, and Legal & General.

Soldo logo

Soldo

Total funds raised: £192m

Soldo operates a banking and expenses app for businesses, which allows an unlimited number of people to use a single bank account with prepaid cards, whilst tracking individual usage. Employers are able to set spending rules and budget limits from a central online platform. The financial services software can integrate with employers’ accounting systems through an API, which sends a daily feed of transactions.

Another London-based fintech startup, Soldo has over 60k clients and partnerships, including Monzo, Nested and Gymshark. Since being founded in 2014, the tech company has raised £192m in equity and loan investments, through four funding rounds. Backers include Accel Partners, Battery Ventures, Citi Ventures, Connect Ventures, Dawn Capital, and Temasek.

Quantexa logo

Quantexa

Total funds raised: £182

Not to be confused with fellow top tech startup Quanta, Quantexa develops AI and big data technology which analyses data within a user’s network, in order to flag illegal activity. Founded in 2016 and now in the Growth stage of evolution, the cybersecurity company has raised a total of £182m in investment, across five funding rounds. 

Quantexa’s latest raise, in July 2021, was worth $153m (£110m) and valued the company at over half a billion pounds. Although it’s not quite part of the unicorn herd yet, we expect Quantexa to hit the billion-dollar milestone at some point next year. The company’s cap table currently features AlbionVC, Accenture, British Patient Capital, Dawn Capital, Global Ventures, and Innovations & Partnerships (managed by HSBC).

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