City of London Tech SME Landscape

The City of London has emerged as a leading hub for tech SMEs, fostering innovation, attracting investment, and driving growth across industries like fintech, data and AI, and cybersecurity. This report examines the trends shaping the City’s dynamic ecosystem, where 2,830 active tech SMEs have collectively raised £7.2bn in equity funding since 2019. Notably, the fintech sector has seen a twofold increase in funding between 2023 and Q3 2024, reflecting its position as the City’s leading tech sub-sector.

Early-stage innovation thrives in the Square Mile, with 32.7% of tech SMEs in the seed stage, raising £1.2bn in equity funding in the first three quarters of 2024 alone. The City is also home to 11 unicorns, including Monzo and Deliveroo, which have collectively raised £6.7bn in equity funding and generated £6.3bn in turnover in their latest financial year.

Explore more in this report, including investment trends, founder demographics, and ecosystem strengths that position the City of London as a launchpad for high-growth companies.

Inside the report

City of London Tech SME Landscape — sub-sector spotlight on financial technology

City of London Tech SME Landscape — equity investment and the distribution of tech SMEs across the City

About the authors

Henry Whorwood
Managing Director
Henry leads our Beauhurst Insights team, and is an expert on equity finance and high-growth business. He's worked on briefs for the likes of Barclays, SyndicateRoom, Innovate UK, Smith & Williamson and British Business Bank. He regularly gives presentations on market trends at events around the UK.
Daniel Robinson
Senior Research Manager
Daniel conducts data manipulation and analysis as part of the Research & Consultancy team. He has a background in business analysis and commercial copywriting in Australia and the UK, having worked at The Sunday Times Fast Track, Oxford University Press, and advertising network MullenLowe Group.
Hannah Nicholls
Senior Designer
Hannah produces graphic design and data visualisation for the Beauhurst Insights team, and has accumulated over 11 years of experience within the design industry. In the last 4+ years, she has specialised in data visualisation and report design, focusing on creating bespoke reports for strategy and thought leadership.
Bila Turay
Research Manager
Bila handles data analysis and visualisation, as well as project management. Before joining Beauhurst, Bila worked at an R&D Tax consultancy. She graduated from the University of Warwick with a Master of Chemistry (MChem).
Miraj Mistry
Senior Research Manager
Miraj handles project management and data analysis for Beauhurst Insights. His previous role was with an economic consultancy who specialise in providing socio-economic research and analysis to support infrastructure and transport projects. He holds an MSc in economics from the University of Bristol and a BSc from the University of Leeds.
Advone Katsande
Graduate Associate
Advone writes copy, and performs data analysis and visualisation. She has written on the nature of Venture Capital Trusts, and worked on projects for Rawnet and Deloitte. She read Law at the University of East Anglia, where she acquired her undergraduate LLB.
Blanca Valencia
Graduate Associate
Blanca handles data analysis and visualisation, as well as copywriting. Prior to joining Beauhurst, Blanca graduated from Queen Mary University of London, where she was awarded a BSc in Computer Science with Management (ITMB).
Harry Walker
Graduate Associate
Harry conducts data analysis and visualisation. Prior to joining Beauhurst, Harry graduated from Loughborough University, where he was awarded a BSc in Economics, having also completed a Placement Year working in Risk Analysis at the Bank of England.
Justin Tsui
Associate
Justin handles data analysis and visualisation, as well as copywriting. Before joining, Justin graduated from Imperial College London, where he was awarded a MSc in Applied Biosciences and Biotechnology. He has also previously worked in consulting and academia.
Evangeline Luckhurst
Designer
Evangeline produces graphic design and data visualisation in the Beauhurst Insights team. Prior to joining Beauhurst, Evangeline graduated from University for the Creative Arts, where she was awarded a BA (Hons) in Illustration and Animation.