Crowdcube: one of the UK’s top 50 fintechs
Tags: Scaleup, Crowdfunding, Fintech, Crowdcube, Startup

Beauhurst recently released a report detailing the UK’s top 50 startup and scaleup fintechs and we’re delighted to say that we were included, alongside four members of our Funded Club! 1,139 UK fintech companies hit one of Beauhurst’s 8 high-growth triggers, with the top 50 ranked by the amount of capital raised.

The report also revealed some interesting statistics about this fast-growing sector. These include the fact that of those 1,139 businesses, 40% are seed-stage and 26% are in the venture stage of evolution, demonstrating the vast potential for growth. 87% of fintech companies have secured equity investment since 2011, a figure significantly higher than the national average of 55%. This is a trend we have watched grow, having supported fintechs like gohenry, Monzo, Chip and Curve through mammoth crowdfunding campaigns.

We’re so pleased to have been named one of the UK’s top 50 fintechs, especially as we’re listed alongside several members of our Funded Club! Here’s a breakdown of where they ranked:

Curve

Shachar Bialick and his team were looking to raise £1m with Crowdcube to bolster Curve’s already astronomical growth. It was important for them to give their community the opportunity to come on board, which is why they saved an allocation of their funding round specifically for the crowd. As Shachar puts it “our community [has] been the beating heart and existence of Curve.”

After raising £1m in just five minutes, the revolutionary fintech went on to generate a total of over £6m from more than 9,500 eager investors. They achieved all of this, smashing several milestones along the way, in five hours. Learn more about their crowdfunding campaign, here.

Nutmeg

Nutmeg launched in September 2012 as the first online wealth manager in the United Kingdom, with a promise to open up the previously exclusive world of wealth management. Now, the possibility of having a professional to help grow their wealth is open to millions more people.

Nutmeg was born out of a deep frustration with the opaque and stuffy traditional investment world. Their central belief is that everyone should be able to access and benefit from quality wealth management, whether they have £100 or £1 million to invest. Everyone should have a right to know where they’re invested, how much they’re paying, and the net performance of their portfolio after fees. The team successfully raised £3.78m in June 2019, thanks to over 2,000 investors.

Revolut

Launched by ex-finance professionals Nikolay and Vlad in 2015, Revolut’s goal was to help people manage and move around money in multi-currencies more easily. The founders had pinpointed common frustrations around exchange rate markups and foreign transaction fees that made managing a bank account abroad a real hassle.

Ten months and 200,000 customers later, the team launched their crowdfunding campaign with us. Their pitch proved to be very popular, closing with a total of £1.01m thanks to 433 investors. Balderton Capital and Index Ventures were amongst these investors, helping to bring Revolut’s valuation to £42m. The following year, DST Global invested a whopping $250m into the company, setting a new valuation of £1.2b and crowning Revolut the second of our three unicorns (alongside Brewdog and Monzo). This also meant that our original Crowdcube investors of Revolut realised returns of 19x. Read more, here.

Monzo

Monzo first raised with us in 2016, when they were still a plucky startup. Even one year after launching they had plenty of panache, raising £1m in a record-breaking 96 seconds. The challenger bank famous for its hot coral cards and committed community has raised several times with us over the years; most recently in 2018 when their community invested a staggering £20m in just a few days. Learn more about their crowdfunding campaigns, here.

After raising £20 million with us in their third crowdfunding round in 2018, challenger bank Monzo closed a £113 million funding round led by YCombinator (YC) Continuity. This brought Monzo’s post-money valuation to a massive £2 billion. Both new and existing investors pledged alongside YC Continuity, including Latitude, General Catalyst, Stripe, Passion Capital, Thrive, Goodwater, Accel and Orange Digital Ventures. Early adopters of Monzo who invested in their 2016 round would have seen their shares rise in value 25x. Read more on that, here.

We can’t wait to see what’s next for this burgeoning sector and the entrepreneurs behind these fantastic fintech innovations.

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