Top Fintech Startups in UK

Getting started with a business in the United Kingdom can get tough even for the most seasoned people. This is due to the laws of the land that exist in the country and getting the right type of finance for their business. If you are a person who aspires to start up a business in the United Kingdom the best way forward for you would be to approach fintech startups. Apart from getting you started up with your funding for a startup they also provide mentoring and support for a year for the right candidates and companies. This can often be more than what you had bargained for in your bid to start fintech startups in UK.

Many companies are providing these services and we list out some of the best out there in the United Kingdom.

Top 5 lending startups

1. OakNorth Bank

From the time it was founded in the year 2013 the company has continued to grow and stands as a market leader with lending startups. The bank is aimed at providing loans to medium-sized and small firms. It is possible for people to attain loans anywhere between £ 0.5 m – £ 25 m for business and other purposes.

The bank has its headquarters in London, United Kingdom. It also has its operations spread out to various parts of the United Kingdom. You can attain both properties as well as business loans from this firm. In the year 2019, the bank was estimated to have pre-tax profits of £ 65.9 million. It is estimated that the company has raised in excess of £ 637 million in funds.

2. Revolut

Founded in the year 2013 as well this company is another leader in the same domain. It has apparently raised over £ 637 in funds as well as the previous one. Revolut has its headquarters in London, United Kingdom. In the year 2020, it became one of the most valued technologies fintech startups with its value increasing to £ 4.2 billion. It offers banking services for its customers with various currencies and allowing ATM withdrawals in as many as 129 different currencies. You may also be able to send and receive in different currencies from the banking app of Revolut from your mobile.

3. Atom

Having the same founding year as both of the above this company is estimated to have raised £ 482 million in funds. It has its headquarters based out of Durham, North East England. This is also a bank that is said to be the first when it comes to building an application that is suited for both smartphones and tablets alike. The different thing about this bank is the fact that it does not operate with any branches. Most of the transactions done with this bank are done either through internet banking on the computer or through a smartphone. People consider this one of the most valued lending startups in the United Kingdom for their loan needs.

4. Paymentsense

This was founded back in 2010 with an estimated £ 329 million raised in funds. It also ranks as one of the market leaders with fintech startups. Paymentsense is also known as one of the largest in Europe when it comes to providing merchant services. It is known to provide merchants with the option to accept card payments with relevant ease which is unlike other financial firms in the United Kingdom.

This company is typically aimed at providing financial services to small businesses in the United Kingdom. They are said to process in excess of £ 10 billion worth of sales each year with a customer base of over 70,000 small businesses. You can also have integrated payment processing done with the help of Paymentsense.

5. Monzo

This company was founded as late as the year 2015 but stands tall to have an estimated £ 324 million raised in funds. Since it is based out of London it is said to have a higher growth rate among its competition. This company is also said to be the frontrunner when it comes to providing app-based banking solutions for its customers. It is headquartered in London, the United Kingdom with its valuation standing at £ 2 billion as of 2020. People also consider Monzo as one of the fintech startups that provides state of the art banking service with the use of cutting-edge technology to its customers.

If you look at the operations of these leading firms that have to do with lending startups their style may differ on more than one count. However, they are unique with their methods and traditions by which they stand. You can visit their website to know details on how to apply with these top 5 firms for fintech startups in the United Kingdom. You would obtain all the necessary information there that would help make the process of applying with them a lot easier than you initially may have thought.