The UK’s fastest-growing companies are an inspiring cohort to work with. These disruptive firms are shaping the economy and technologies of the future, and doing so at a startling rate. Do you want to know which are the fastest-growing tech companies in the UK this year?
Well, just like every year, Deloitte acknowledges the fastest growing tech companies in the UK and ranks them based on revenue growth over the past four years.
This year’s cohort of winners in the UK represents companies at the forefront with over 10,441 employees across the 50 companies, an impressive average growth rate of 2,898% and total revenues of over £2,204 million. The 2020 winners of the Deloitte UK Fast 50 are mostly based in London and belong to various industries including fintech, software, communications, healthcare and more. You can take a look at the full list over here, while we take a close look at those who got ranked as top 10 below:
Founder/s: Robert Flowers
Founded year: 2014
UK LendTech, DivideBuy, scored first place on Deloitte’s UK Technology Fast 50 2020 list. The Newcastle-under-Lyme based company reported an average three-year growth rate of 20,733% to the year 2019/2020.
Robert Flowers, CEO of DivideBuy, commented, “Not only making it on to Deloitte’s Technology Fast 50 and Fast 500 lists, but ranking first and fourth respectively, is a major achievement for DivideBuy. However, most importantly, it’s a testament to both the hard work of the team, and the success of our technology and innovative interest-free lending.”
DivideBuy’s technology platform is built on retail understanding and consumer insight, solving many common pain points for its retail partners. This distinctive approach enables retailers to provide a credit option with no hidden small print, and capabilities such as an online checkout that provides real-time credit decisions, thereby leading to increased retail sales. Its e-commerce credit plugin integrates seamlessly with shopping cart functionalities including Magento, WooCommerce, Shopify, and Craft Commerce.
Founder/s: Amit Gudka, Hayden Wood
Founded year: 2015
Leading the London cohort and in second place overall is Bulb, the renewable energy specialist, with a growth rate of 14,288%.
Bulb is the UK’s fastest-growing energy supplier that provides 100% carbon neutral gas and 100% renewable electricity to over 1.7 million members across the UK. Its electricity is sourced from renewable generators that are located across the UK including solar, wind, and hydro sites. Bulb’s mission is to help people reduce their bills and reduce carbon emissions.
Founder/s: Liam Houghton, Tom Cohen
Founded year: 2016
The photobook specialist Popsa (3rd place overall, three-year growth rate of 10,576%) is an AI personalised photo printing startup, which works with the mission to bring customisable goods to a new audience with the use of latest technology. Popsa uses AI technology in the personalised gift market. Its printAI algorithm combines the most appropriate photobook layout in a fraction of a second. It uses facial detection APIs to ensure that faces are not cropped out and deliver by best user experience.
Founder/s: Nikolay Storonsky, Vlad Yatsenko
Founded year: 2015
Revolut was in first place last year and this year got dropped by three positions with a growth rate of 6786%. The UK fintech is one of the fastest-growing companies with over 10 million customers in the UK and Europe.
Initially, it was established with the vision to build a Financial Super App wherein a single app will let users manage all aspects of their financial life. Revolut lets users exchange money sans any hidden fees, buy gold, crypto, and manage their money along with spending analytics. It is also possible to set budgets, see weekly insights and get instant spending notifications. Also, Revolut with Open Banking can be connected to bank accounts to manage finances seamlessly.
Founder/s: Andrew Bud
Founded year: 2012
iProov also secured a top five spot in Deloitte’s 2020 UK Technology Fast 50 list, with a 6351% growth rate in the four-year period.
London-based startup is a behavioral biometrics technology provider that observes how the user interacts with a device or browser.
Andrew Bud CBE, CEO and Founder of iProov, said: “We at iProov are absolutely delighted to be recognised in this way. It’s a huge tribute to the iProov team, in London, Washington DC and Singapore, which has risen so successfully to the many challenges of fast growth and leadership in our rapidly expanding market.”
“The need for online identity verification is greater now than ever before. iProov is supporting an ever-increasing number of businesses and governments around the world, who are using biometric authentication to give customers and citizens secure, simple access to digital services. Face verification removes the complexity of passwords and reduces online crime and identity theft, bringing greater inclusivity, trust and security to the world.”
iProov claims to be the world-leader in Genuine Presence Assurance technology. Genuine Presence Assurance is the only way to verify an online user and ensure that the person is not an imposter, a criminal gang or a machine-driven cyber-attack. This technology is trusted by governments, social networks, banks, travel and health providers to verify online users with usability, privacy, and security.
Founder/s: John Goodall
Founded year: 2013
The property focussed fintech from UK, Landbay also scored a position among the top 10. The buy-to-let FinTech lender is the top-ranked mortgage lender and is listed as the third fastest-growing ‘fintech’ business in the country.
According to the company press release, Landbay has achieved 5,520% growth in revenue from 2016 to 2020, lending over £0.6bn during that period.
The company creates access to a new type of investment opportunity for the lenders and helps investors reap the benefits from the solid, consistent and regular financial returns provided by the UK buy-to-let mortgage market.
Founder/s: Ben Stanway, Charlie Mortimer
Founded year: 2015
Saving and investing app Moneybox got the 7th rank in the list. Moneybox attributes its 5270% per cent revenue growth to high customer demand as it recently reached half a million customers, in addition to having built out its product range to include Lifetime ISAs, Savings Accounts and Pensions, to help even more people save and invest for the future.
Charlie Mortimer, Moneybox Co-Founder, said, “In the last four years, we’ve grown from offering customers the chance to invest the spare change from daily card purchases into a Stocks & Shares ISA, to offering a range of saving and investment products including Lifetime ISAs, Savings Accounts and Pensions. Having reached £1bn in assets and half a million customers this year, we’re growing faster than some of the biggest names in our industry – and this is only the beginning.”
Founder/s: Freddie Blackett
Founded year: 2015
Patch, which has become ubiquitous with Instagram-savvy users and is an online plant delivery service also scored a spot on the list with a growth rate of 4499%.
The urban gardening startup has delivered over 250,000 plants to more than 82k customers in London and Paris. Their investors include Octopus Ventures, London Co-Investment Fund, Cantos Ventures and more and they’re poised to expand across Europe and cut out the middle-man in their supply chain.
Founder/s: Philip Mundy, Richard White, Tom Mundy
The UK proptech startup Goodlord, which provides software and services to transform how people rent, scored the 9th position in the list with a growth rate of 3678%.
The company makes renting easy through automated digital transactions, cutting agency time and spending by 50-75%. It lets agencies to focus on growing their business and providing a better service to their customers. Goodlord provides access to a dynamic suite of specialised services including insurance, e-signing, referencing, e-payments, and more in a one-stop-shop.
Founder/s: Abakar Saidov, Michael Paterson, Sultan Murad Saidov
Founded year: 2014
Beamery, one of the well-known startups from the UK disrupting the recruitment industry with AI was also among the top 10.
The company believes that there is a better way to connect with prospective employees. It works towards helping the world’s largest companies transform their talent operations, processes, and team. Beamery has offices in London, Austin, and San Francisco.