Companies to Watch | #4
The UK’s tech sector is back with vengeance, so we are continuing to shine a light on UK startups.
Founded in 2014 | London | $917 Million
Revolut is a startup Fintech banking provider, providing banking services for GBP and EUR bank accounts. They also offer a range of currency exchange services, provide facilities for the trade of stocks and even offer a cryptocurrency exchange feature. Peer to peer payments is also worked into their platform. Revolut is looking poised to be the all-in-one finance provider of the future.
Revolut is an absolute behemoth in terms of attracting outside investment to fund the development of its platform. This United Kingdom startup has managed to secure $917 Million in outside investment funding from an eye-popping 36 investors. With such a large support network and level of funding, Revolut is going to take the coming year by storm.
Founded in 2014 | London | £61.4 Million
Bulb has come into the oversaturated UK energy market and has differentiated themselves by providing their customers with 100% renewable energy and 10% renewable gas. So, for every unit of energy a Bulb customer uses, they will produce another unit and put it into the grid through renewable sources. Furthermore, the company tries to compete on price in the expensive industry and they have cornered 5% of the domestic energy market in the UK.
Bulb is primed and well-funded enough to cause some serious disruption in the UK energy market, with the company has raised a significant sum of money to fund its operations, with £61.4 Million being raised by a group of four investors. The UK energy market has traditionally been dominated by the “Big-Six” and in 2021, this UK startup could continue to make ground against them.
Founded in 2015 | Cambridge | $78.7 Million
FiveAI is an AI-startup that is focused on the issues surrounding the technological development of self-driving vehicles. They have a particular interest in the arena of public transport and highly urban areas. The company designed its platform so that the software for self-driving vehicles can be more easily developed from machine learning and AI.
This UK startup has already gained a lot of investment funding to help develop their autonomous vehicle technology, with $78.7 Million being collected from a group of seven investors. With further development and interest in autonomous vehicle technology, the company should see increasing strides in 2021.
Founded in 2015 | London | £28 Million
Farewill is a LawTech services provider that aims to take the stress and legal jargon out of an already draining process in will-writing. With their services, you will be able to update and manage your will online, with around the clock customer service. The company is based in London and they also provide direct cremation and funeral provisions. Their offering helps to take some of the stress out of what is already a horrible time for people.
So far, Farewill has already seen notable attention in terms of startup funding and clearly, the business model and concept of the platform has been well received. A panel of 18 investors have cumulatively contributed £28 Million in funding to the company and it’s likely that the company’s positive momentum will continue in 2021.