Business: MarketInvoice
Sector: Alternative finance Year founded: 2011 Future 50 class: 2011 Disruptive concept: Get sophisticated investors looking for better returns than traditional methods to buy up invoices via an online platform from businesses in search of crucial growth capital. One of the standout successes of our Future 50 initiative, MarketInvoice has raised over £20m of funds from venture capital investors, secured finance from the government’s British Business Bank to further the lending cause and helped unlock in excess of £600m for firms around the UK. Part of a burgeoning fintech market that includes equity crowdfunding platforms, money transfer services and peer-to-peer lenders like MarketInvoice, the company has been earmarked for big things. Anil Stocker, CEO and co-founder of MarketInvoice, told Real Business: “Looking back at the list five years on, it’s great to see MarketInvoice amongst some real success stories. Some of businesses that featured have gone on to big, big things, and I’m really pleased we’ve been able to join them at the top of their respective markets. Fintech is especially well represented, and I’m proud of just how much the sector has grown since. “Back in 2011, we were less than a year old and the team hadn’t hit double figures. In the end we funded £3m to small businesses that year and now we’re lending that amount in a day or two. But those first milestones (£1m and ten hires) really stuck with me and are still some of my best memories of the business. “Of course, being recognised early on helps. When we started out most people thought we were crazy, no one knew what peer-to-peer was, so getting support from Real Business was great. Even in 2011, the startup culture was so strong. Finding business owners that are actually willing to take you seriously, let alone trust you with their funding, was a huge challenge.” Read the original Future 50 feature.MarketInvoice: How to maintain culture in a growing business
Business: Mubaloo
Sector: Mobile Year founded: 2009 Future 50 class: 2011 Disruptive concept: Help businesses of any size achieve a better digital presence –transforming business processes, staff productivity and customer engagement, all through the use of mobile and location-based technologies.
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Business: Cyclehoop
Sector: Cycling Year founded: 2008 Future 50 class: 2012 Disruptive concept: Solve a vast array of urban cycling problems through a clever, but fundamentally simple, approach – with issues ranging from storage to security. As London and the UK’s population have been increasingly turned on to the benefits of cycling, the issue of how to store and protect bikes has grown. Enter Cyclehoop, a business fusing practical solutions with eye-catching design. It’s first major product, the self-entitled Cyclehoop, took the form of a retrofit bicycle stand that converts existing street furniture into cycle parking. The product was launched in London in 2008, and has since been adopted over 40 councils across the UK. Anthony Lau, founder of Cyclehoop, told Real Business: “In 2012 Cyclehoop had had early success, which was great, but we were still a relatively new business and as such I was very focussed on growth and making the business sustainable for the future. “When we made the Future 50 list, I had just moved the business office from the garage of my family home to a small industrial unit! We now operate from an 8,000 sq foot warehouse in South East London and employ 25 full-time staff. “We’ve also enjoyed some steady international growth over the years, with our products being exported around the world: Sweden, Australia, New Zealand all host our products. Knowing that we thousands of our Cyclehoops on streets across the world, making life a bit easier for cyclists, is an amazing feeling.Blazing a trail: The urban cycling security entrepreneurs
Business: Chaser
Sector: Financial services Year founded: 2013 Future 50 class: 2015 Disruptive concept: Help the millions of small businesses out there chase outstanding invoices in a more efficient and consistent way. One of the newer businesses in this feature, Chaser has latched onto the late payment issue and created a technology-based service to deal with it. Data has shown that the amount owed to small and medium-sized businesses in late payment averages out at around £75,000 in the South East of England. Chaser is on a mission to get this money to its rightful owner and help fuel growth ambition. David Tuck, co-founder and CEO of Chaser, told Real Business: “Being part of the Future 50 and winning its Friend To Business award in March 2015 has been incredible for us. We raised our seed investment round at the end of April 2015. This brought the insights of expert investors along with the capital to expand our team. We launched in Australia in August 2015, which has been incredibly exciting for us. Most pleasing has been the fantastic continued impact we are able to have as a product and a business. Seeing the benefits SMEs are able to derive from CHASER is a huge thrill. With one user recently sharing how they’ve been able to use the £30,000 cash flow boost they’ve got from CHASER to employ a new salesperson to help the business grow. Read the original Future 50 feature.Payment wait of 72 days for firms turning over less than £1m
Business: Somo
Sector: Digital Year founded: 2009 Future 50 class: 2012 Disruptive concept: Like Mubaloo, Somo is on a mission to take firms large and small (sometimes kicking and screaming) into the modern age by producing compelling connected experiences for customers. Now spread across two continents, Somo is powered by venture capital and proving very popular with brands including De Beers, Home Depot and AirAsia Expedia.Carl Uminski, COO of Somo, told Real Business: “Somo has skyrocketed since our inclusion in Real Business’s Future 50, back in 2012. We have experienced four straight years of rapid revenue growth with staff numbers nearly tripling in that time.
“This success has been recognised by the industry over the years, with Somo ranking 19th in the Sunday Times Tech Track 100 as well as being selected as Best Management Team.
“It’s been a busy few years at Somo, building some of the most innovative and creative products in the market and running hugely successful campaigns for brands all over the world. Most notably we have built a bespoke augmented reality platform for Audi (and now Skoda). ‘Audi Vision’ brings print to life through the power of mobile technology.
“We were thrilled to have been listed in the Future 50 amongst some of the most exciting businesses in the UK who are all still triggering change in their markets or creating new ones.”
Read the original Future 50 feature.
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