Thursday 7 December 2017 11:33 am

These are the UK's 100 fastest-growing startups: Transferwise and Deliveroo top the list

London can boast with renewed vigour of its startup credentials today, as new research has revealed that the capital is home to 71 of the UK's 100 fastest-growing startups.

Investment platform SyndicateRoom has today revealed the UK businesses which grew most rapidly in terms of value between 2014 and 2017.

With some well-known names on the list, the impressive 100 companies span 12 different sectors, employ around 10,200 people and generate more than £600m in revenue. Yet a major gender gap is present, with only seven female founders finding their businesses on the list.

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“The first thing that springs to mind is just how inspiring they all are – from businesses that redefine our relationship with money to companies that are literally recreating the sun’s power on Earth,” said Goncalo de Vasconcelos, chief executive and co-founder of SyndicateRoom.

Here are the top ten:

Company Multiple by which its value has grown What it does
Transferwise 57x Peer-to-peer money transfer
Deliveroo 56x Takeaway delivery
The Culture Trip 36x Online travel guide
Digital Shadows 31x Cybersecurity software
Sonovate 30x Finance and back office outsourcing for contract recruitment agencies
HiLight Semiconductor 21x Chips for high speed fibre optics-based communications
Swoon Editions 19x Online furniture store
EdixoMed 18x Nitric oxide-based healthcare technology
Credit Benchmark 17x Financial data analytics
Kano 16x Computer and coding kits

Read more: London is home to more of the hottest fintech startups than ever before according to the Fintech50 2017

The UK also holds some of the world's most driven entrepreneurs within its borders. “We’re fortunate to have the support of world leading investors, which means we can accelerate product development, but really what drives us is making money move across borders easier, cheaper, faster for the millions of people who need to manage their money across two or more countries,” said Transferwise chief executive Kristo Käärmann.

But Glenn Shoosmith, chief executive of BookingBug which ranked in 14th place, added: "No business should be raising money for the sake of it; the signal should come from outside. If the size of your market continues to grow, that can be a sign that you might need capital to keep pace.”

Read more: London tech startups head on Brexit trade mission to France with Mayor of London Sadiq Khan