Fintech is one of the most popular areas of investments currently and the UK is at the forefront. According to Accenture, the UK and Ireland account for 40% of all Fintech investment in Europe. After carrying out a study, we have compiled a list the 10 most popular Fintech companies in the UK.
1) Funding Circle
Funding Circle offers peer-to-peer- small business loans. The company was founded by Samir Desai, Andrew Mullinger and James Meekings in 2010. Funding Circle’s allows savers to lend directly to businesses, getting rid of the banks. Therefore, it provides more favourable interests rates than traditional banks. Over £1.3 billion worth loans have been given since the company was launched.
TransferWise is a peer-to-peer money transfer platform that was launched in 2011 by Kristo Kaarmann and Taavet Hinrikus. The company matches customers looking to send currencies in different countries, cutting down on cost by eliminating the actual transfer of money. The company was among the few startups that were valued at £650 million last year.
Founded in 2011 by Nicolas Cary, Ben Reeves and Peter Smith, Blockchain is the most popular bitcoin wallet provider in the world. It also has software that allows businesses to accept bitcoin. The company’s funding to date is more than £22 million.
WorldRemit is an online money transfer platform that lets you send money to family and friends, using an Android smartphone. It is a convenient and low-cost alternative to banks that charge unreasonable fees. Founded in 2009 by Ismail Ahmed, the company is valued at more than £326 million.
Launched by Giles Andrews in 2005, Zopa is a peer-to-peer lending platform, which uses the internet to get rid of the banks entirely. Zopa matches savers with persons who want to borrow money, cutting out the bank and providing better rates.
Crowdcube is a crowd funding platform that allows companies or individuals to raise money by trading on shares online. Since it was launched in 2011 by Luke Lang, the company have raised over £100 million.
RateSetter allows savers to lend to individual borrowers. The company was founded in 2009 by Rhydian Lewis and Peter Behrens. Since the company was launched, it has invested about £1.2 billion. Last year, Ratesetter was the largest peer-to-peer lender in the UK.
Nutmeg is an investment management services provider. Nick Hungerford and William Todd founded the company in 2011. Its funding to date is more than £24 million. Investors in the company include Carphone Warehouse founder Charles Dunstone and ICAP founder Michael Spencer.
MarketInvoice enables companies to borrow against unpaid invoices. Founded in 2011 by Anil Stocker and Ilya Kondrashov, the amount of invoice the company has funded is about £0.8 billion.
Launched in 2011 by Matt Robinson and Hiroki Takeuchi, GoCardless uses smart technology to make it easier for businesses to receive and process direct debits. GoCardless began in Y Combinator accelerator. The company currently has around 20,000 customers including The Guardian, the FT and Box and TripAdvisor.