UK financial services firms make LinkedIn’s top start-ups list

Several UK banks and financial services firms have made it onto ‘LinkedIn’s Top 25 Companies – Startups’ list.

The companies were selected from nearly 25,000 venture-backed companies. Nearly a third of the list was made up of financial technology businesses, including challenger banks and currency converters.

Demand

LinkedIn worked with venture capital database CB Insights to find the 25 most in-demand start-ups in the UK. The list, which is the first ever spin-off of LinkedIn’s annual top 25 companies list, was created using information collected from the social networking website’s 500 million members. Factors taken into account included number of views, applications received per company, and employee growth.

Challenger bank Monzo topped the list, with the bank being acknowledged for its popularity with millennials. Peer-to-peer lenders Funding Circle and RateSetter were featured on the list, coming in eighth and 21st place respectively.

London-based Funding Circle has funded more than 28,800 companies since its launch in 2010. RateSetter has raised £13 million this year and is set to launch an Innovative Finance ISA.

Boost

Challenger bank Atom Bank came in 14th place on the list, while financial services firm WorldRemit came in at number 22. Atom Bank focuses on mortgages and savings accounts and plans to launch business and personal accounts.

WorldRemit focuses on currency transfer and is looking to boost its headcount over the next year.

Financial services firm Iwoca also made the list, coming in at number 25. The company focuses on helping small businesses overcome the challenges of obtaining finance from big banks and has lent more than £260 million to over 12,000 businesses across Europe.