Wednesday 27 March 2019 12:01 am

10 London fintechs prepare to scale up as they join Tech Nation startup programme

London fintechs dominate the latest entries to a government-backed startup programme as the capital's fintech sector continues to boom.

Monzo, Starling Bank, Revolut and Salary Finance were among the companies selected for this year’s Future 50 programme.

Read more: Fintech unicorn Oaknorth more than trebles profits

The scheme, which is run by government-backed Tech Nation, helps British tech businesses to scale up by providing access to a peer network and contact with senior government decision-makers.

This year’s cohort reflects the continued success of London fintech firms, which made up 10 of the 24 new entries.

Tristan Thomas, head of marketing and community at Monzo, said: “We're excited to have been included in this year’s Future 50 programme and work with and learn from other high-growth companies in the cohort.

“As we near 2m customers in the UK, we're preparing for the next stage in our company's growth trajectory.”

The announcement comes after a bumper year for venture capital investment in the UK, with startups pulling in $7.9bn (£6bn) in funding last year.

Startup Sector Location
Aire Fintech London
Blockchain Fintech London
Currencycloud Fintech London
Marketinvoice Fintech London
Monzo Bank Fintech London
Nested Fintech London
Quantexa Fintech London
Starling Bank Fintech London
Revolut Fintech London
Salary Finance Fintech London
Behavox Data Analytics London
Bizuma Ecommerce and Marketplaces London
Bulb Energy Hardware Devices and Internet of Things London
M Squared Lasers Hardware Devices and Internet of Things Glasgow
Reach Robotics Hardware Devices and Internet of Things Bristol
Culture Trip Digital Entertainment London
Mediatonic Digital Entertainment London
Ensek Software as a Service Nottingham
Kimble Applications Software as a Service London
Garrison Technology Cyber Security London
Ieso Digital Health Biotech and Healthcare Cambridge
Globalwebindex Adtech and Marketing London
Perkbox Enterprise Software London
Starleaf Enterprise Software Watford

Dr Kris Naudts, founder and chief executive at travel startup Culture Trip, said: “Being part of Future 50 will help us to connect with and learn from our peers. 

“In the startup world, there is enormous benefit to be had from hearing how others have overcome challenges and realised their growth ambitions.”

The Future 50 programme was founded in 2013 to help drive British tech talent and counts Deliveroo, Skyscanner, Shazam and Just Eat as notable alumni.

Read more: Are the days of the traditional bank coming to an end?

Jeremy Wright, secretary of state For Digital, Culture, Media and Sport, said: “The UK has a fantastic track record of producing globally successful tech companies and I'm pleased to see another diverse and impressive group of firms in Tech Nation’s 2019 Future 50 programme.

“The list highlights the underlying strength of our digital economy and emphasises its huge potential. We are doing all we can to make sure this vital industry continues to grow and our young businesses are given the right support to thrive.”