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London fintech startups are among the promising areas of investment at the moment. With prominent British based ventures leading the FinTech pack it should come as no surprise that around 40% of all European fintech investment is happening in the UK & Ireland, as reported in a recent Accenture study. With more than 135,00 people in this industry, London is quickly becoming a FinTech capital of Europe. 

With greater and greater sums of money transacted each day, these ventures are disrupting a very traditional sector and opening up easier and more efficient payments processes for an ever growing base of users. We first created this list of London fintech startups to keep an eye on three years ago – let’s see how they’re doing now! 

London Fintech Startups 2019 – Meet the Players!

#1 MarketInvoice

MarketInvoice gives businesses access to funds based on outstanding invoices that traditionally take months to clear on behalf of other vendors. These invoices can take up to four months to clear, which can clearly be a drag for businesses during their earliest days. MarketInvoice enables businesses to sign up, sell an invoice and draw funds that exact day. When we first wrote about MarketInvoice, they had funded £500 million and we tipped them to do great things. They are now poised to surpass £2.5 billion in funding!

Careers at MarketInvoice – apply here

#2 TransferWise

TransferWise provides peer-to-peer money transfer services, allowing businesses as well as individuals to transfer money globally in a fast and efficient way. In 2016 we wrote, “For those looking to enter FinTech, take note that this fast-moving venture is flipping this gazillion dollar industry on its head and is also on the lookout for revolutionaries, hoping to grow its 320 strong team over the coming year.” It’s now at over 750 employees around the world! 

Careers at Transferwise – apply here

#3 GoCardless

GoCardless takes the world’s Direct Debit networks, simplifies them and opens up access to everyone. With their motto, ‘Recurring payments made simple’, this venture it has processed more than three billion pounds for over 30,000 businesses across the world – more than tripling in size since we first covered them. Pretty cool, no?

Careers at GoCardless – apply here

#4 Iwoca

Iwoca serves as an alternative to traditional financial institutions. It offers a range of credit opportunities for small firms to scale their businesses with loans available up to £100,000. With credit limits based on business performance, the venture can typically lend up to one month’s revenue or up to £10,000 for a newly-minted startup.

Careers at Iwoca – apply here

#5 Revolut App

Revolut is a really nifty personal money cloud that also caught the eye of Kandidate when we first covered FinTech companies. It allows you to exchange currencies, perfect interbank rates, send money through social networks and spend a multi-currency card nearly everywhere. Their goals are to reduce banking fees to zero, something we can’t really complain about. Revolut recently raised $250m in funding to take their overall valuation to $1.7b, making them a great London ‘unicorn’ story.

#6 Curve

Curve looks and feels just like your normal bank card. But it isn’t. Access all your cards and accounts with just one PIN. Keep collecting your reward points. Withdraw cash, use online and on the high street – Curve is similar to products such as Apple Pay, but in the familiar form of a card.

#7 Monzo

Monzo is building a bank for people who live their lives on their smartphones. Monzo is for people who want to get things done in a click and who don’t see the need for branches and cheque books. They have gone from offering a pre-paid card to a full bank account, were valued at £280m in their last investment round, and have even changed their name since we first wrote about them (from Mondo to Monzo).

This article was last updated in January 2019

Looking for startup jobs in London? New openings for positions in marketing, business development and sales. Get recommended to startups like TransferWise, GoCardless or MarketInvoice. Join in 5 minutes! www.kandidate.com