SyndicateRoom, the online investment platform, today announced the launch of a new report entitled “Top 100: Britain’s Fastest-Growing Businesses”.
Now in its third year, the study features a league table of private UK companies that have increased in value the most since 2016. SyndicateRoom commissioned new data from independent research firm Beauhurst for the report.
2019’s fastest-growing company is Bulb – the single-tariff energy supplier whose electricity comes from 100% renewable sources. Topping the list for the second year running, Bulb have increased their valuation by a whopping multiple of 318x since 2016.
Fintech challengers Revolut and Nutmeg secured the second and third place positions, having grown their valuations by 239x and 135x respectively.
The report uncovered an emerging trend: the number of fast-growing companies founded by women has doubled since 2017, rising from 7 to 14.
The research also indicated that London saw a decline as the home of fast-growing startups in 2019. 60 of the Top 100 companies in this year’s report are based in the capital, compared with 71 just three years prior.
Graham Schwikkard, CEO at SyndicateRoom commented: “The East of England is on the rise. It’s now home to 12 of the UK’s fastest-growing companies, compared to just five in 2017. We find that seven of the Top 100 companies are based in Silicon Fen: Cambridge. The university city has built an impressive cluster of medical and deep-technology companies.”
Hayden Wood, Co-founder & CEO of Bulb said: “We started Bulb because we wanted to help as many people as possible make the switch to green energy. So it’s brilliant to be named the fastest-growing private company in the UK for the second year running – today we’re helping over 1.5 million members to save on their bills and cut carbon emissions.”
“We think this represents people voting with their feet for greener, cheaper energy, and look forward to continuing to work with our members to change how we produce and use energy in the UK.”
Henry Whorwood, Head of Research & Consultancy at Beauhurst added: “This research we’ve carried out for SyndicateRoom identifies a uniquely exciting cohort. These are businesses that have raised multiple rounds of investment and at increasing valuations: these businesses are achieving their ambitions to an extent that their investors are willing to pay a lot more for a stake in them.”