10 Fastest-Growing Companies in the UK | 2021-2022
Sarah Cheesman, updated: 18 January 2024
The UK high-growth ecosystem has been through a lot of challenges in recent times— recovering from the pandemic lockdown and dealing with high interest rates making venture capital funding harder to come by, to name two. But through these challenging times, UK-based entrepreneurs have demonstrated incredible resilience and impressive revenue growth rate.
At Beauhurst, as part of the data we collect, we track 48k+ high-growth companies across the UK. Together, these ambitious businesses are driving significant economic growth and developing next-generation technologies, and doing so at an astonishing rate. To investigate which businesses are leading the pack, we’ve used our data to compile a list of the UK’s fastest-growing companies.
While there are many different ways to measure company growth, we’re focusing on the UK startups that saw the greatest turnover growth between 2021 and 2022. Each company on this ranking has met the following criteria:
- A private company headquartered in the UK
- Operating at the Seed, Venture or Growth stage of evolution
- Has raised equity funding
- Has comparable accounting periods between 2021 and 2022
- Reported a turnover of at least £100k in 2021
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From fintechs to e-commerce firms to healthcare startups, this list reveals the 10 fastest-growing businesses in the UK, ranked in order of growth in turnover in 2022. Read on to find out who made the list.
10 Fastest Growing Companies in the UK
10.
The London Interdisciplinary School
Sector: Education
Location: London
Growth in turnover (2021-2022): 3,468%
The London Interdisciplinary School provides higher education services, offering Bachelor of Arts and Sciences degrees. They have completed six rounds of fundraising to date, for £23m. Their most recent round was in July 2023, raising £15.5m through undisclosed investors. Their post-money valuation was listed as £35.6m. This company saw a huge 3,468% increase in turnover between 2021 and 2022, from £18.9k to £673.2k.
09.
GB Bank
Sector: Banking
Location: Middlesborough
Growth in turnover (2021-2022): 3,683%
GB Bank operates a bank, aimed at providing property development finance to typically underserved regions. They have completed seven rounds of fundraising since being founded in 2017, with the most recent in October 2023. This saw £3.96m raised through undisclosed investors for a 4.5% stake in the company.
Their turnover growth was reported at 3,683% between 2021 and 2022, growing from £6k to £227k.
08.
Freedom Fibre
Sector: Internet hardware
Location: Manchester
Growth in turnover (2021-2022): 3,991%
Freedom Fibre provides fibre broadband services, working with Internet Service Providers to optimise the UK’s fibre network. They have raised £88m to date, through two rounds of fundraising. Their most recent round was in May 2022, raising £84m through Equitix. The aim of this fundraising was to scale the business and accelerate the rollout of full fibre broadband across the UK. Between 2021 and 2022, the company reported a growth in turnover of 3,991%.
07.
Rekki
Sector: Mobile apps
Location: London
Growth in turnover (2021-2022): 8,150%
Rekki develops mobile app software that allows restaurants to communicate with their suppliers. They have over 70 staff members from 22 different countries, working out of London, New York, Amsterdam, and Lisbon.
They have secured £52.3m to date, through six different funding rounds. The most recent was in August 2019, where Creandum, CSC Upshot Ventures, Laconia Ventures, and Lugard Road Capital invested £25.1m. Their turnover saw a growth of 8,150% between 2021 and 2022.
06.
Nuclera
Sector: Biotech
Location: Cambridge
Growth in turnover (2021-2022): 8,150%
Nuclera is a biotech company that develops bioprinting technology, which produces genes and proteins in order to assist life scientists with research and data analysis. Since being founded in 2013, they have raised £58.2m through equity fundraising rounds, as well as £428k in grants. Their most recent equity round was in July 2022, seeing them secure £54.8m through a range of contributors, including Amadeus Capital Partners, E Ink, Future Fund, Future Planet Capital, GK Goh Holdings, M&G Investments, and RT Partners. This round was to help them develop and commercialise their desktop bioprinter.
Their turnover grew by 8,150% between 2021 and 2022.
05.
Evergreen Life
Sector: eHealth
Location: Manchester
Growth in turnover (2021-2022): 10,842%
Evergreen Life develops an app that allows users to record their health information, book doctor appointments and view test results.
Founded in 2014, this startup has raised £30.3m in equity funding to date and a further £708k in grant funding. The company had a post-money valuation of £119m at the end of its latest round in June 2023. Evergreen Life has also made two acquisitions, Cievert in August 2021 and askmyGP in November 2021.
04.
Mayfields Market Towns
Sector: Promotion
Location: London
Growth in turnover (2021-2022): 66,900%
In fourth place on our list is Mayfields Market Town. This company acts as a promotion company for a new town in East Sussex, also trading as Mayfields. They have gone through one round of equity fundraising to date, raising £100k through undisclosed investors. Their turnover grew a huge 66,900% between 2021 and 2022, going from £1k to £670k.
03.
BLOC Hotel
Sector: Hotels
Location: Birmingham
Growth in turnover (2021-2022): 91,967%
BLOC Hotel offers accommodation at lower than average prices in city centre locations, by designing small rooms without the extras associated with traditional hotels. They have gone through one round of fundraising to date, securing £15.5m. This was completed in February 2018 through undisclosed investors.
Between the financial years 2021 and 2022, the company reported a 91,967% increase in their turnover, from £3k to £2.8m.
02.
Pure Data Centres Group
Sector: Server hardware
Location: London
Growth in turnover (2021-2022): 140,825%
Pure Data Centres Group provides data centre infrastructure for a range of clients, aiming to ensure secure data storage. Headquartered in London, they have over 200MW of IT capacity live or under development in markets across Europe, Asia, and the GCC.
They have gone through six rounds of fundraising to date, securing £23.3m. Their last round of equity fundraising was completed in December 2022, raising £53.8k through undisclosed investors. Between 2021 and 2022, their turnover grew by 140,825%.
01.
Monument
Sector: Banking
Location: London
Growth in turnover (2021-2022): 212,700%
In first place on our list is Monument, an online bank that is aimed at more affluent customers. The company was founded in 2017, and has since raised £124m through six rounds of fundraising. The most recent of these was in November 2023, raising a total of £40m through Dubai Investments and other undisclosed investors to grow the company’s operations and reach.
Between 2021 and 2022, their turnover grew by a huge 212,700%, from £1k to £2.1m.
How to find the high-growth companies of the future
Are you interested in finding out more about high-growth companies in the UK? Or perhaps you want to be the first to know about the up-and-coming businesses of the future. The BeauhurstInvest tool has everything you need. With our platform, you can scan the entire UK private market using specific search criteria. Our intuitive search function means you can filter the results with incredible specificity. And thanks to our 60+ in-house data experts, you can be confident that you’re working with up-to-date, reliable data.
Our team of expert account managers are on hand to ensure that you will always get the most from our data, no matter what your goals. To find out more, book a demo or speak to a member of our team today.
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