Start-up companies are dominating the UK business scene and London based entities alone were responsible for £2.45 billion of venture funding capital last year. As a newly emerging and growing business ourselves, we’re always keen to learn about some of the hottest start-ups around, as success stories are vital for learning and knowing where ideas are best placed. With that in mind, we have a look at some of the most explosive newcomers plus ones to watch, as featured below.
- NESTED.COM Prop-tech start up, Nested.com are a new wave estate agent who lend money to their clients to buy property in advance to having their current home sold, allowing members to be chain-free. Fees change depending on when or if you use the advance. This site launched in 2016 and is already proving popular; the team broke even at month four of year one. Currently operating in London, the funding and growth seen so far are set to see Nested.com expand across the UK.
- BABYLON HEALTH Babylon Health is an app that connects people to GPs on the move so they don’t need to wait in surgeries or fight to get an appointment. Babylon also uses artificial intelligence to offer quick diagnosis where feasible. Incredibly, the AI model they used to take an exam for future GP’s (the MRCGP test) nailed the exam, and surpassed the pass mark by some way with a result of 81% compared to the 72% average. Babylon Health is currently seeing great results but critics are warning us to keep mindful of this new concept before long term data is published on safety and effectiveness.
- MONZO BANK Monzo Bank are a London based group who are simplifying the way banking works. They now have over one million users and offer relatable, non-jargon filled guides for their members to get to grips with certain monetary processes. They also open the platform to their users to make suggestions about how they want the bank to work and what they see fit in terms of usability. Monzo is built for ease of use and the modern world, with all access granted via your smartphone.
- ELLIPTIC Elliptic are a fascinating start-up who help reduce and trace fraudulent activity via Bitcoin transactions. Known as a blockchain forensic team, they are able to find out what goes on in the dark web and many other cryptocurrency locations where it was once thought to be totally anonymous. They work with and for law enforcement, bitcoin and cryptocurrency exchanges and large financial institutions. Elliptic aims to end criminal activity in cryptocurrency; a worthy start-up in this ever-changing era of cyber-takeover.
- THE ALLBRIGHT The Allbright; a women’s only members club for women to work, relax, collaborate and socialise. Although only women can join as members, men are welcomed as guests so it isn’t totally exclusive, but offers a female centric ethos for work and play. The original club lies in the heart of Fitzrovia with club number two arriving soon in the prestigious Mayfair area. The club hosts events as well as being a place to recoup and has a salon and restaurant on site.
So, there is a brief overview and a tiny subsection of the London start-up scene to keep your eye on – perhaps work with them or use their product where appropriate. Although these businesses don’t appear to be in any danger of slowing down, it is really rewarding working with newer, smaller companies and you feel like you’re contributing to a change in an industry that curbs large corporate businesses getting the lion’s share of the profit!