Despite Brexit London still remains as one of the biggest hubs and places for your startup. This list covers the most interesting London-based finance startups that are definitely worth your attention.
Monzo - the bank of the future
Mozno is a perfect bank for your smartphone. Co-founders Paul Rippon, Gary Dolman, and Jonas Huckestein have challenged regular banks by creating Monzo because, in their opinion, banking should be better. Recently the startup’s popularity got significantly increased. In a press release, Tristan Thomas stated that in May of 2017 Monzo hit a milestone of 200,000 customers. Considering the fact that this year 100,000 people made an account in just January to May period it is safe to say that Monzo is getting popular very fast.
In 2017 they received £24.2M in fundings making their total funds increase to over €40M.
Ravelin - preventing small frauds for on-demand companies
Ravelin helps reducing chargeback rate caused by fraudsters up to 90% by providing the companies with special analytic tools and insights. The service uses Artificial Intelligence and machine learning techniques to fight against fraud, promo code and voucher abuse, fake accounts and most importantly - chargebacks.
Ravelin received €4.9M in total through fundings, Dealroom.co values company at €13M - €20M.
Bink - collect loyalty points and discounts using one app
Bink provides easy, almost not noticeable interaction between customers and their favorite loyalty programs. The app first asks you to add your credit cards that are merged with your favorite shops’ loyalty programs so you can simply collect rewards as you make purchases.
Bink received €28M from late VC round in 2017 alone making a total of €36M in funding. According to Dealroom.co, the company is valued at almost €168M.
Cleo - Intelligent budget assistant
Co-founded by ex-Amazon, Wonga and Google employees service - Cleo helps you manage your budget straight from a chat box using AI technology. It’s like your “friend that look after your money”. Since January of 2017 angel investors and VCs have provided the startup with €3M in total. Judging by accessibility and the ease of usage of the service we hope that Cleo will become a popular companion for everyone who doesn’t know where their money went by the end of each month ;)
Soldo - pre-paid cards for your staff
Soldo allows you to create pre-paid MasterCards for your employees with a set limit. You can check real-time balance, users of the cards can quickly add transaction data to the service so you can generate reports just with a few clicks. Your money is safely secured in EU-based banks.
According to Soldo’s press release from the June of 2017, the company raised $11 million in Series A funding led by Accel.
Swanest - Investing using AI
Swanest is a startup in seed growth state that makes investing in Stocks and Shares easier and safer. Its intelligent investing technology based on AI informs you about potential risks and allows you to return your investments based on your portfolio. Co-founders “believe the traditional financial industry should be reinvented” and that “the time has come to design an investment solution that serves the needs of the people: simple to control, intelligent in its behavior and transparent”.
The startup received a funding of €1.5M in total.
Luno - Bitcoin wallet
Personal, accessible and user-friendly trading Bitcoin service right in your pocket! Luno allows you to convert your money into Bitcoin and then send them to your friends or just save them for investment.
“We are one of the world’s leading digital currency companies with a team of over 40 technology and finance experts, operating across several countries and continents.” claims the team.
Recently (in September of 2017) Luno received a major funding of €9M in Series B round making a total of €12.7M in funding.
What would you add to our list? Share your thoughts in the comments!
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