Top FinTech Startups & Scaleups of London to Watch Out in 2021

In the era of technology, information technologies and modern fintech apps dominate our world, plus our wallets. Presenting a rich context of investment management and financial innovations, FinTech startups and scaleups are in their highest demand. FinTech companies and ventures provide software services, and currently, a lot of them are nearly considered equivalent to banks. But, rather they’re FinTech startups or scale-ups, they’re offering banking from home, just like every customer needs, under the world’s circumstances.

Defining FinTech Startups and Scale-ups

To briefly define, a FinTech startup refers mainly to technology and innovation, aiming to compete with the old-school financial methods and services. In the previous years, the handicap of the market confronted reliability and trust, however, now it is becoming no such trouble with the years, and successful samples came by. Nevertheless, subscription offers and third parties are still the most effective ways to make the most of the money to make and use them more efficiently. 

Tech scaleups are one step taller than the startup phase. “A scaleup (company) is a company who has an average annualized return of at least 20% in the past 3 years with at least 10 employees at the beginning of the period,” according to OECD. However, it seems impressive; the more a company scales, the more it values.

Top FinTech Startup & Scale-up Providers In London

FinTech Startups List


  • Founded: 2015
  • Funds Raised: £627M
  • Employee Number: 1000-2000

Established in 2015, Londoner fintech company Revolut reaches more than 2,100 employees. The FinTech company is offering a range of digital banking services. They targeted their audience as tech-savvy mobile app users, including transferring money abroad in 29 different currencies with a prepaid debit card that enables cash machine withdrawals in 120 countries. 

Revolut offers more vaults for saving money and make a budget and overseas medical insurance. Users choose a free UK current account for the standard accounts and a free euro IBAN account in general. There are no extra fees for exchanging in 24 currencies, up to £5,000 a month, and the members can withdraw up to £200 a month from cash machines.


monzo Fintech Scaleup in London
  • Founded: 2015
  • Funds Raised: £324m
  • Employee Number: 1000-2000

Monzo, one of the inspiring FinTech startups in London, operates a digital-only bank offering unique solutions and features to fulfil their clients’ needs. With a mission to build the best bank account globally, the fintech app currently has more than 4.5 million users, and it has been counting since it was founded in 2015. 

Monzo makes a difference in the banking sector by focusing on people’s actual challenges rather than aiming to sell their products. In fact, they let their users take control of their finances.

Monzo investors include Passion Capital, Thrive Capital, Goodwater Capital, Accel, and General Catalyst.

When it comes to consumer apps, banks are at least a decade behind the ease and feature-set of a Lyft or an Airbnb, not to mention sloth-like and unimaginative when compared to the innovation cycle in the apps we use every day. With Monzo, we aim to make money work for everyone by working with our community of users to build things that work for them.” Tom Blomfield, the CEO of Monzo.


TransferWise FinTech Company
  • Founded: 2010
  • Funds Raised:£305m
  • Employee Number: 1000-2000

An online money transfer service, Transferwise, lets you transfer money up to eight times cheaper than a bank. Moreover, the system is beautifully simple. It skips expensive international payments entirely by applying for two local transfers instead of one international operation.

Looking for a job at London’s FinTech startups and scale-ups?

Here you can download the free Job Market Insights Report and get a quick glimpse of most popular jobs, titles, salary ranges and skills that are in demand in London.

Job Insights Report by SOL

This free PDF includes;

Most popular new job titles and salary ranges in London’s Startups

Role details and most in-demand skills employers are looking for


PaymentSense FinTech Startup
  • Founded: 2010
  • Funds Raised: £329m
  • Employee Number: 500-1000

Started in 2010, PaymentSense was launched by young entrepreneurs who realised that SMEs needed a way to overcome machine fees and expensive services of merchants. PaymentSense today provides affordable merchant services to over 60,000 small and medium businesses in the UK and processes over £5B worth of credit card annual payments.

Starling Bank

StarlingBank FinTech Startup
  • Founded: 2010
  • Funds Raised: £2273m
  • Employee Number: 500-1000

Creating a different approach to old-fashioned banking, Starling Bank is one of the top fintech companies providing everything you want from a full-service bank account in the UK. Founded in 2014, Starling Bank serves rational banking solutions such as freezing your card, disabling or restricting payments, settling up, categorizing spending behaviours, providing international money transfers and more. 


Nutmeg FinTech Startup
  • Founded: 2011
  • Funds Raised: £127m
  • Employee Number: 100-500

Nutmeg UK serves residents with algorithmic and human financial services for multiple account types, including Lifetime Individual Savings Accounts (ISAs), which are eligible for a 25% government bonus, regular ISAs that are tax-free up to £20,000 per year, and employer-matched Personal Pensions. A Junior TSA account was added early in 2020. Nutmeg switched from fully automated to a hybrid financial advisory in 2018, with higher investment tiers managed by human investment teams.


We visited Soldo and had an inspiring interview with Carlo Gualandri, the Founder and the CEO of the FinTech company in the UK. We learned more about their funding history, the challenges they faced, the solutions they found during their success journey, and many other aspects of their business.

  • Founded: 2014
  • Funds Raised: £61m
  • Employee Number: 100-500

A multi-user expense account, Soldo helps companies manage their spendings. Soldo integrates prepaid Mastercard cards, a web-based administration console and a mobile app into one intuitive future-ready platform.

The venture was founded by tech veterans and payment pioneers who refused to accept the inefficient and fragmented state of business spending in the 21st century. With decades of experience in payment services and transactional system development, the team didn’t just slap a brand on an ‘easy’ solution or quick-fix. Instead, they invested heavily in creating a world-class technological, regulatory, and operational platform from scratch.

Soldo’s rock-solid innovation and talented team have attracted over $80M in Seed, Series A and Series B funding. Our investors include Accel Partners, Dawn Capital, Battery Ventures, Connect Ventures, InReach Ventures, U-Start, and R204 Partners.


Yoyo FinTech Startup
  • Founded: 2013
  • Funds Raised: £44m
  • Employee Number: 100-500

Introducing a combined mobile payment and personalised loyalty app to its customers… Yoyo collaborates with French patisserie PAUL UK to exemplify and explain Europe’s fastest-growing digital payments. For the loyalty and marketing solution, build and launch its first mobile payment and personalised loyalty app, which will be exclusively available to UK customers from 20 May 2019.

The fully-branded PAUL UK app, which is a download free app from Apple Store and Google Play, makes payments with a rewarding experience, provides customers with a secure, straight-through mobile payment, automated PAUL loyalty accumulation, instant PAUL rewards redemption and voucher sharing and to be a just-in-case, digital receipt collection.

Want to work for a startup in London? Explore our 28-day Action Plan!


MoneyBox FinTech Startup
  • Founded: 2015
  • Funds Raised: £33m
  • Employee Number: 100-500

Founded in 2015, Moneybox basically helps customers invest in their future and make savings. The award-winning fintech mobile app makes it easy for people to take the first step and then provides the tools and information they need to work towards their financial goals confidently.

MoneyBox makes it easy for people to take the first step and then encourages users to make a true saving plan and invest decisions by giving them what they need to work towards their financial goals. They offer products to suit every need and are already helping over 375,000 people invest and make savings for their future.

We had an interview with Adam Hobbs, the Vice President of the Global Supply of WeGift and discussed the success story of WeGift, the challenges they overcame and their future goals. 

  • Founded: 2014
  • Funds Raised: £4m
  • Employee Number: 50-100

A UK fintech startup, WeGift, has developed a platform allowing businesses to gain digital rewards to customers efficiently. Aron Alexander founded the FinTech company in 2014, who was surprised to receive a £5 physical voucher refund in the post. Alexander realized that businesses were unsuccessful because of using far more convenient digital rewards and incentives that can be handled online. According to Incentive and Motivation, TechRound says that the corporate rewards and incentives industry will be worth almost $700B by 2024. 


  • Founded: 2016
  • Funds Raised: £3.9m
  • Employee Number: 100-500

Founded in 2017, 11.FS aka 11.FS Foundry is a UK based digital modular banking platform that creates digital services for banks. DNB took a 5% stake for $3M in October 2018 and increased it in June 2019. 

11.FS Foundry brings adopts, personalized services and experiences to promote faster methods and at significantly less cost, rather than the traditional ones. The cloud-based technology and a modular approach are used, allowing customers to apply an entire banking stack or choose services, depending on new strategies.


Coconut FinTech Startup
  • Founded: 2016
  • Funds Raised: £4.4m
  • Employee Number: 11-50

Founded in 2016, London based FinTech startup Coconut presents a smart accounting tool for self-employed people. The tool offers a simple, easy-to-use app with expenses, invoicing, and tax all in one. 

The company’s mission is to make people’s lives easier by combining banking and accounting services into one simple product.


  • Founded: 2019
  • Funds Raised: £500 K
  • Employee Number: 1-10

Canaree delivers the quickest, most accurate (no code) financial modelling and forecasting tool to assist founders, project managers and financial managers keep their businesses on track. The software makes it simple for companies to manage their runway, cash flow, and companies can get advice as they create a model during their financial processes. To put it simply, Canaree replaces complex financial spreadsheets with a smarter way to calculate and manage them in the best ideal way.

Since you’re already here, we thought you might also like to discover the podcast series produced specifically for the FinTech industry followers and enthusiasts.

If you’re keen to dive deeper into the FinTech ocean, here are a few podcast channels to inspire you!

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