The fintech firms which have blazed a trail for others to follow
4 min read
14 September 2015
In honour of London Fintech Week 2015 we’re taking a look back at a few of the outstanding and disruptive fintech companies featured in the Everline Future 50 over the past few years, and examining where each are now.
Now the world’s leading investment crowdfunding platform, it was also the first of its kind. It enables anybody to invest alongside professional investors in early-stage businesses through equity, debt and investment fund options.
To date the company has funded over £100m and has attracted over 200,000 investors across 290 successfully funded businesses, including the likes of the Eden Project and River Cottage.
Independent market research from Crowdsurfer shows that so far in 2015, Crowdcube has secured British businesses more funding than all other players combined, with an impressive 52% market share.
Read more about Crowdcube:
- IPO market to be disrupted by Crowdcube’s new offering
- Crowdcube targets growing businesses with new mini-bond funding option
- Crowdcube’s Sprint Programme to provide British startups with seed investments
This fintech firm provides an innovative solution to the SME nightmare that is late payments, by providing a software platform for chasing unpaid invoices. The service saves its customers time by automating the chasing process – sending personalised, polite and persistent emails until the invoice is paid, making on average a 26 debtor day reduction and saving 11.5 hours of manual chasing per month.
This useful tool is also grabbing the attention of investors, with its first funding roundraising £500,000 of investment capital to grow the business and develop products.
In quick succession the company also announced overseas expansion with its launch in Australia, kicked off by exhibiting at Xerocon in Melbourne.
Crunch caught our eye as an online accountancy firm to watch. With more and more businesses choosing to move their bookkeeping online, what is it that makes this service stand out?
According to Crunch it’s the company’s integrated approach to software and service. While many accountancy firms use online software, each also hold to old-school practices behind the scenes. The intricate CRM and ticketing system behind Crunch means that businesses can respond to most client queries within hours if not immediately, and still provide a one-to-one, personal service.
The results speak for themselves, with an increase of around 5,000 customers since we last saw them as one of the Future 50 (now 7,000) and an impressive list of endorsements including being placed 84th in the Accountancy Age Top 50+50 and 63rd in the Sunday Times Tech Track 100.
Last, but by no means least, TransferWise is an international money transfer platform based on peer-to-peer (P2P) technology has been called one of the UK’s most successful fintech startups.
The business has raised $91m in funding from investors including Richard Branson, Andreessen Horowitz, Peter Thiel and Max Levchin, the co-founders of PayPal.
It works by allowing customers to pay the company directly, it in turn pays their recipient from an account in their country using the real exchange rate and therefore saving on expensive bank charges.
TransferWise customers now use the platform to transfer £500m across the globe every month, saving them over £22m every month. The platform now offers over 400 currency routes in 30 different currencies with plans to expand its offering further before the end of the year – definitely one to watch.
We’re now Looking forward to seeing which up-and-coming success stories will be named in next year’s Everline Future 50 in March. Watch this space.