More than 900 companies raised funding this year and are rising as the top London startups for 2019. Home to one of the largest stock exchanges globally, London is a well-established startup ecosystem. The city is in the process of continually shaping the startup culture in the city for making more favorable for business while making it an investment magnet.
As per HexGn, London’s tech prowess, especially in the fintech sub-sector, is notable with many startups from this sub-sector are some of the highly funded companies this year. Let us look at ten of the top London startups for 2019 that are poised for remarkable growth in the coming year.
Top London Startups to Watch out for in 2019
London based startup Monzo is a new age mobile banking platform making it more convenient to access banking processes without physically going to a bank. The transparency in the procedures and the ease of completing them has got this top startup in London a lot of users. Monzo made headlines in the first week of December this year as it raised ?20 million in equity crowdfunding within a span of two days. One of the top London startups for 2019, the fintech leader is expected to show notable growth and development. It was co-founded by Gary Dolman,?Jason Bates,?Jonas Huckestein,?Paul Rippon,?and Tom Blomfield in 2015 and is an exciting unicorn company that has more than a million customers.
TransferWise is a growing company in the fintech segment that has grown impressively from a small team of two founders to a top startup in London with a large team of more than 1000 members. The fintech startup was established by Kristo Kaarmann and Taavet Hinrikus in 2010 and counts more than 4 million customers as of date. The London based startup has made it easier to transfer money internationally through a secure and very affordable channel. One of the unicorn companies in the ecosystem, TransferWise raised ?65 in debt financing in 2018 from NatWest Bank, JP Morgan, and LHV Ventures. A round of cutting transactional fees in 2017 and the phenomenal funding rounds in the last two years have helped the fintech company emerge as one of the top London startups for 2019.
Hostmaker, a top startup in London is an award-winning home rental management platform founded in 2014 by Nakul Sharma and Deepti Patankar. The company is helping homeowners get the best out of renting their properties. Cities in which the platform is currently offering its services include Rome, Cannes, London, Barcelona, Paris, Florence, Bangkok and Madrid. The London based startup has raised $29.4 million from 6 funding rounds since 2015. The most recent round was in August 2018 in which Hostmaker pocketed $5 million in debt financing from the Silicon Valley Bank. The revolutionary fintech brand is among the top London startups for 2019 expected to break its records. The startup has shown a three-digit increase YOY and was recognized by Forbes as one of the top UK 100 UK startups.
London sees a lot of fintech companies among the top London startups for 2019 and Revolut is another one of them.? company was founded by Nikolay Storonsky and Vlad Yatsenko founded the innovative fintech company and currently has total funding of $336.4 million. Revolut is a top startup in London that made it to the club of unicorn companies in the city. The startup has created a regular place for itself as an alternative platform to digital banking services. Hong Kong’s DST Global led the Series C round for the London based startup and invested $250 million along with seven other participant investors. The completion of this round caps the company?s valuation at? $ 1.7 billion.
London based startup what3words has brought to the ecosystem a refreshing idea to make navigation around a city easier. The geospatial tech company has divided all the places into grids of 3×3 meter squares and has assigned these squares a simple three-worded name. A top startup in London, what3words’s novel algorithm is claimed to be error-free and is available in more than 25 languages. The company’s services can be used online as well as offline and also offers voice input options.? what3words was co-founded by Jack Waley-Cohen, Chris Sheldrick, Michael Dent, and? Mohan Ganesalingam in 2013 and is among the top London startups for 2019. The company has completed two funding rounds this year, the amount raised is yet to be disclosed.
Yet another fintech company among the top London startups for 2019, Tandem has been in the news for its funding activities in the last two years. The first time the company made headlines in this period was when it acquired Harrod Bank Ltd. in 2017, a rather notable feat for a company in an industry where banks buying out startups are the norm. The London based startup went to acquire a money management app platform at the beginning of this year and followed by a Series C round later this year that helped the company raise ?15 million.? Tandem’s growth in the last two years has got the startup players all excited to see what this and the other top London companies of 2019 bring to the table next year. Tandem was founded by Matt Cooper, Michael Kent, and Ricky Knox in 2013 and is offering easy digital banking services that are entirely online.
Thought Machine completed its Series A round of funding in November 2018 bringing home ?18 million from Lloyds Banking Group. The company is one of the top London startups for 2019 based on the merit of the new funds secured this year. Thought Machine is currently developing a core banking system platform that will serve as a strong foundation for a transition to a more technologically advanced banking system.? The London based startup was incorporated in 2014 by Paul Taylor and is expected to be the force that changes the way banks function.
London based startup Bloom & Wild has made something as simple as ordering flowers online even more convenient with technology through its web platform and app. The company does this with the help of advanced deep linking technology provided by another startup, Branch.? Bloom & Wild entered the ecommerce arena in 2013 and was established by entrepreneurs Aron Gelbard and Ben Stanway. Counted among the top London startups for 2019, Bloom & Wild has completed its Series C round recently and has secured ?15 million from Piper Private Equity(lead investor), MMC Ventures, and Burda Principal Investments.? The London based startup operates across UK, France, and Germany shipping more than 50 million flowers till date.
Meniga, one of the top London startups for 2019, is a digital banking platform that has participated in three funding rounds this year. The last round was in November 2018, in which the London based startup raised ?3 million from Islandsbanki. Meniga has a user base of more than 65 million and uses tools based on big data, analytics, and predictive models to offer digital banking and Personal Finance Management (PFM) solutions. The London based startup was co-founded by Asgeir Orn Asgeirsson, Georg Ludviksson, and Viggo Asgeirsson in 2009 and has become a household name for digital banking needs. Meniga?s recent funding activities and impressive increase in its user base have made it an exciting company to watch out for among the top London startups for 2019.
So these were the top London startups for 2019 that have created ripples in the industry with their funding activities this year. These startups are less than 10 years old and have created enviable positions for themselves in the respective industries.
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