Top 10 UK Fintechs: Funding Rankings 2023
Following in the footsteps of our sister publication, InsurTech Digital Magazine – who recently looked at the top 10 insurtechs in the UK – FinTech Magazine is doing the same for fintechs, ranking the top 10 by total funding.
10. Basket ($1.2 billion)
UK-based Curve raises US$1.2 billion in funding over 8 rounds, offering customers an integrated platform to combine all debit and credit cards into one smart card, reducing wallet clutter and simplifying transactions. In addition, Curve allows customers to monitor spending, set budgets and seamlessly switch between cards. Offering enhanced security and competitive exchange rates, Curve provides a convenient and secure solution for domestic and international payments.
9. FNZ ($1.4 billion)
With $1.4 billion in total funding, fintech FNZ’s technology platform empowers financial institutions to deliver personalized investment experiences to their customers. At the forefront of digital wealth management solutions in the UK, FNZ offers comprehensive solutions that include investment management, digital advisory and platform services. Founded in 2003, FNZ strives to improve efficiency, innovation and regulatory compliance for the wealth management sector.
Fintech LANDBAY, which specializes in buying and renting property, connects investors seeking attractive returns with creditworthy borrowers in the UK property market. LANDBAY’s continued growth and market presence has generated investments of $1.6 billion over 17 funding rounds. With a technology-driven approach and commitment to transparency, LANDBAY considers itself a reliable and accessible platform for both investors and borrowers.
Lendable champions a data-driven approach with innovative technology, and offers lending solutions to both individuals and businesses. Its online platform allows borrowers to quickly access personalized loan options using underwriting algorithms that analyze vast amounts of data for competitive rates and flexible terms. With $1.6 billion in total funding, Lendable has established a strong market position since its founding in 2014, positioning itself as a leader in the UK fintech industry.
6. Wise ($1.7 billion)
Sixth on the list of UK fintechs by total funding is Wise, which has adapted the way money can be transferred globally. Formerly known as TransferWise, Wise has developed an innovative platform that enables funds to be transferred internationally at fast speed and at low cost. By implementing a peer-to-peer model, Wise rejects the need for traditional banking intermediaries, resulting in fair exchange rates as well as lower fees. Fintech has already processed billions of dollars in cross-border transactions, and has received a total investment of $1.7 billion to date.
Revolut offers a range of banking and payment services, including currency exchange, international money transfers, budgeting tools and cryptocurrency trading. With its innovative app and competitive pricing, Revolut has attracted millions of customers worldwide, offering features such as instant spending alerts, budget controls and virtual cards for added security. Receiving $1.7 billion in funding over 19 rounds, Revolut can classify itself as a fintech unicorn as it continues to expand its offerings and provide flexible financial options for both individuals and businesses.
UK fintech Checkout.com offers a payment platform that enables businesses to easily accept and process digital transactions. With a robust suite of tools and APIs, Checkout.com supports a wide range of payment methods, currencies and global markets using real-time data analytics and fraud detection capabilities. By adopting a customer-centric approach, fintech aims to ensure optimal transaction success rates, empowering businesses to optimize their online payment processes and unlock growth opportunities. Since its founding, the company has received $1.8 billion in total funding.
SumUp is a leading fintech company that specializes in offering user-friendly card payment solutions for small businesses. With compact card readers and an intuitive mobile app, SumUp enables merchants to easily accept card payments. The transparent pricing structure makes it easier for small businesses to embrace electronic payments, with solutions for invoicing, inventory management and customized receipts. SumUp generates $2 billion in total funding, coming third on our list of the top 10 UK fintechs by total funding.
With $2.1 billion in total funding, Prodigy is the second most significantly funded UK-based fintech. The company offers a unique student loan platform that gives talented young people access to higher education opportunities by assessing their future earning potential and helping them in their ambitions to study abroad. By leveraging a data-driven approach, Prodigy Finance enables students to secure funding without the need for collateral or co-signers. This inclusive model has opened doors for students who have traditionally faced challenges in obtaining loans. With its user-friendly online application process, competitive interest rates and flexible repayment terms, Prodigy Finance has supported thousands of students in realizing their educational ambitions.
Number one on our list of the most funded UK-based fintechs is LendInvest, which provides funding solutions for property professionals, investors and developers. Having received a total of $2.2 billion over 21 funding rounds, the fintech is now at the forefront of real estate finance innovation. The digital marketplace connects borrowers with a network of institutional and individual investors, offering a variety of loan products tailored to meet specific real estate needs. LendInvest’s streamlined online application process, combined with its sophisticated underwriting technology, ensures fast loan origination and funding. With a focus on transparency and customer centricity, LendInvest has built a reputation for delivering competitive pricing, excellent customer service and seamless transactions.
