The United Kingdom unquestionably created one of the most powerful startup ecosystems in the world and the controversial decision of Brexit seems to have no significant impact on it.
What shouldn’t surprise anyone, the biggest startup community in UK is gathered in London, which, by attractive tax wages and huge array of incubators and accelerators, creates a perfect environment for startups.
The number of companies established each year goes up to 660 000, and the growth continues. In the beginning of the year we took a closer look at London startup scene to present you the list of most promising startups you should definitely keep an eye on in 2018.
The idea behind Habito was an answer to the pain of many people—a long, complicated and unpleasant process of applying for a mortgage. Launched in 2016, Habito provides a simple and honest way to find the best loan option. It’s a digital adviser–customer speaks with the chatbot and gives it all the necessary information, so it could suggest the most lucrative deal amongst over 15 000 products.
So far they raised almost $33M of total funding.
Another promising London startup of 2018 is Lobster—an platform that uses AI to help brands and advertisers to find and licence visual content created by social media users. It scans all the popular social platforms (Instagram, Flickr, Facebook, YouTube, Vimeo) to identify the most relevant content by using machine learning algorithms.
In the beginning of 2017 they closed a Series A funding round of £1M. Used by major British agencies, the startup is now expanding into the US market.
Monzo is a startup bank built for a smartphone, that was founded in 2015 by Gary Dolman, Tom Blomfield, Jason Bates, Jonas Huckestein and Paul Rippon. After applying you will have to spend your time on a waiting list to get a card and benefit from benefits of an immediate balance update, intelligent notifications and simple intuitive UX.
It raised the total amount of £109M of funding in 9 funding rounds, the list of investors contains Stripe, the online payment company from Ireland.
Founded in London by a trio of Oxford graduates, the platform connects with chosen publicly available databases to run background checks, helping employers quickly verificate identity documents and search for things like criminal record. The company is built around machine learning technology.
In September 2017 they raised $30M in a Series C round led by Crane Venture Partners.
Revolut is a digital banking alternative with a pre-paid debit card, currency exchange and P2P payments. Setting an account is quick and simple and it enables users to manage money around the world with the possibility to instantly send free money transfers in 26 currencies, use the fee-free Revolut card in 120 currencies and exchange currencies at interbank rates in the app.
The startup bank has also crossed the milestone of 1m customers. Revolut raised $66m in a Series B round in July 2017.
Tide, the last London startup from my list, is a banking service designed particularly for small businesses. By automated categorisation of transactions done, it provides quick pre-bookkeeping account service. What’s more, the startup has built its own fully extensive API for developers to make the integrations or build upon.
In the July of 2017 Tide raised $14M in a Series A funding round.