Top London Startups in 2024
Sarah Cheesman, Updated: 29 February 2024
Here, we’ll explore the 15 fastest growing tech startups in London last year, based on annual headcount growth.
Which London startups should you be watching in 2024? Private equity firms and VCs are lining up to back the next generation of innovators in the capital, widely known to have the best fintech ecosystem in Europe. This makes London a prime location for ambitious startups to set up shop, attracting large pools of talented entrepreneurs each year.
Indeed, London is already home to some of the biggest startups and scaleups in the UK: cryptocurrency site Blockchain.com, events platform Hopin, fintech frontrunners Checkout.com and Moneybox, car insurance unicorn Marshmallow, digital security firm Onfido, and all three of the UK’s leading challenger banks (Revolut, Monzo, Starling Bank).
But it’s not all about fintech. London’s vibrant tech scene is also seeing a surge in sustainability-focused startups. Companies like Bulb are disrupting the energy sector with renewable energy solutions, while others are tackling issues like waste management, transportation emissions, and sustainable food production.
These startups not only aim for profitability but also prioritise making a positive impact on the environment and society.
The London startup scene
It’s not just established businesses that are making waves in the UK’s capital city. From fintech to healthtech, sustainability to the metaverse, and cybersecurity to decentralised finance, startups in London are pushing the boundaries of what’s possible across various industries.
Fueled by a rich pool of talent, a supportive network of investors and mentors, and a vibrant culture of entrepreneurship, London has solidified its position as a global tech hub. With its strategic location, access to capital, and a conducive regulatory environment, the city continues to attract top-tier talent and ambitious entrepreneurs from around the world.
The collaborative spirit and spirit of innovation permeate throughout the London startup scene, fostering creativity, resilience, and a relentless drive for success.
- A private company headquartered in the United Kingdom
- Head office based in the North East of 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
Discover how The Big Four use the BeauhurstAdvise platform to find fast-growing companies at the right stage.
The top 15 startups in London in 2024
To be eligible for this ranking, a company has to meet the following criteria:
- Headquartered in London
- Operating at either the seed or venture stage of evolution
- Have comparable accounting periods in 2022 and 2023
- Report at least an 80% increase in employee count, from a minimum of 10 people in 2022
- Have met at least one of our eight high-growth tracking signals
Sicut Enterprises
Growth in headcount: 114.3%
Location: Islington
Sectors: Building materials, plastics, waste management services
Sicut Enterprises uses recycled plastic waste to manufacture a variety of building materials and structures, including railway sleepers, bridges, and construction mats, according to the patented designs created by Rutgers University.
William Mainwaring, co-founder and CEO, founded the business in 2013. It has raised £24.5m to date through eight rounds of fundraising, the most recent of which was in October 2020 for £6m. Their headcount has grown from 14 in 2022, to 30 in their most recent financials—a total of 114.3%
7bridges
Growth in headcount: 122.2%
Location: Westminster
Sectors: Software-as-a-service (SaaS)
7bridges has developed software which utilises AI to help businesses optimise their logistics. The company was founded in 2014 by Philip Ashton and Matei Beremski, with the aim of creating powerful change through supply chains and software.
It has grown from three to almost 100 supply chain experts, with £17.9m raised to date through three funding rounds. The most recent, in January 2022, was invested in by Eight Roads Ventures, advised by Osbourne Clarke. Integrated logistics company, Maersk, was also in the round as a strategic backer, working with 7bridges to integrate its logistics and shipping data and help its customers manage their logistics more easily.
The company’s headcount grew by 122.2% between 2022 and 2023.
Vertical Future
Growth in headcount: 130%
Location: Lewisham
Sectors: Agriculture and farming, food and drink processors, software-as-a-service (SaaS)
Vertical Future provides technologies designed to facilitate vertical farming, as well as consultancy services and operational support. The company was founded by James Burrows in 2016, starting out by building a small vertical farm in South East London.
It received a £4.1m Seed investment in 2019, helping it in its beginning stages. This was followed by a £22.5m Series A investment in 2022, the largest Series A to date in Europe. Since 2022, the headcount has grown from 20 to 46, an amazing 130%. The company has featured on the FoodTech 500 high-growth list three times, in 2019, 2020, and 2021.
Anything World
Growth in headcount: 141.7%
Location: Tower Hamlets
Sectors: Middleware, Other business and professional services for businesses
Anything World has developed middleware designed to allow users to interact and manipulate objects using their voice. The software can be incorporated into the games, simulations, and apps of its clients.
The company was founded in 2018, and has gone on to receive £7.69m in equity fundraising, through three rounds. The largest of these was in November 2022, raising £6.29m to hire and commercialise a new animation system and support integration with Unreal Engine, a popular creation engine.
Its headcount grew by 141.7% between 2022 and 2023.
Hamilton George Care
Growth in headcount: 147.6%
Location: Wandsworth
Sectors: Nursing and care services
The domiciliary care service, Hamilton George Care, provides in-home care to private clients around the UK. Its founders, Fred Lloyd George and Alex Hamilton met on a training course in the army, deciding to start the company to provide a service that is entirely focused on the individual.
The business has received two investments to date, totalling £150k, in 2021 and 2022 respectively. Their headcount grew from 21 in 2022 to 52 in 2023—147.6%.
Novatus Global
Growth in headcount: 150%
Location: Westminster
Sectors: Analytics, insight, tools, business banking and financial services
Novatus Global, also trading as Novatus Advisory, provides a range of advisory services, specialising in risk and compliance advice for financial services businesses. It has appeared on three high-growth lists to date, including ESGFinTech 100 in 2023, BusinsessCloudRegTech 50 in 2023, and RegTech 100 in 2024.
The business has so far secured fundraising of £5m through two rounds, in July 2022 and November 2023. Between the financial years 2022 and 2023, their headcount grew by a total of 150%, from 12 to 30.
The Mothership
Growth in headcount: 160%
Location: Hackney
Sectors: Marketing Services
The Mothership acquires and partners with independent e-commerce brands, creating a network which aims to boost the reach of its brands. It was founded in 2020 by Titus Sharpe —former CEO of Europe’s largest customer acquisition business, MVF. Sharpe was recognised as the Entrepreneur of the Year at the National Business Awards in 2015.
The business has raised £16.7m to date through one round of equity fundraising in March 2022, aimed at funding new acquisitions. It was also the attendee of an accelerator (Grow London Global) in 2023, and appeared on the Startups 100 list that same year. Their headcount grew from 10 to 26 between 2022 and 2023, a huge 160%
CricViz
Growth in headcount: 160%
Location: Lambeth
Sectors: Analytics, insights, tools, mobile apps, sporting events
CricViz has developed a mobile app with predictive analytics on cricket players and matches. Founded in 2014, this business has raised £4.04m to date through four funding rounds, the most recent of which was in June 2023 for £840k. This investment gave them a post-money valuation of £26.4m.
Their headcount grew by 160% between 2022 and 2023, taking them from 20 members of staff to 26.
HURR
Growth in headcount: 169.2%
Location: Westminster
Sectors: E-commerce, fashion, other retail
HURR operates a website where users can rent clothing from others for short periods, and made headlines in 2021 for partnering with fellow retail e-commerce company, Depop.
It has received £12.9m in equity fundraising to date, through four rounds. The largest of these was in December 2021, raising £4m to invest in technology, develop its white label product offerings and grow the business. The headcount at HURR grew from 13 to 35 between 2022 and 2023, a 169.2% increase.
Hofy
Growth in headcount: 175%
Location: City of London
Sectors: Software-as-a-service (SaaS), outsourcing and shared devices
Hofy develops software that aims to improve management of a remote workforce and provides outsourced logistics services. The company was founded in 2020 by Sami Bouremoum and Michael Crisp-Ginzo, and featured on the LinkedIn Top Startups UK list in 2023.
It has secured £24.1m in fundraising to date, through three investment rounds. The most recent of these was in July 2022 for £12.3m, through an unannounced funding round. The headcount grew from 28 to 77 between 2022 and 2023, a total increase of 175%.
Veed
Growth in headcount: 182.5%
Location: Hackney
Sectors: Desktop software, marketing services
Veed develops video editing, live streaming, and subtitling software for businesses’ online and social media marketing. It was an attendee at the King’s20 accelerator, finishing in 2018, and made the LinkedIn Top Startups UK list in 2023.
The business has raised £25.8m to date, through just one investment round. This was through Sequoia Capital, aimed at improving the existing product, investing in new products, and increasing available workforce resources.
The business grew from 17 to 48 members of staff between 2022 and 2023, a growth of 182.4%.
Char.gy
Growth in headcount:Â 212.5%
Location: City of London
Sectors: Automotive, energy utilities services, other cleantech
char.gy is an innovative company that develops on-street charging points for electric vehicles. It offers modular solutions for easier placement and maintenance at a choice of speeds: 5.3kW, 7kW, and 22kW.
It has raised £34.6m through equity fundraising to date, alongside a further £2.06m in grant funding. Zouk Capital made a £6.4m investment into the company in June 2021, aimed at rolling out further on-street residential electric vehicle charging points in the UK. The headcount grew from 16 to 50 between 2022 and 2023, an increase of 215.5%.
BeZero Carbon
Growth in headcount: 221.4%
Location: Hackney
Sectors: Business banking and financial services, management consultancy services, other energy
BeZero Carbon provides a range of energy reduction consultancy services, specialising in carbon reduction services, and provides investment advisory services for investees. It was named in the LinkedIn Top Startups UK high-growth list in 2023.
It has raised an impressive £59.9m to date, through five rounds of fundraising. The most recent of these was for £42.5m in November 2022, aimed at helping to open offices in the US and Singapore, scaling its team, expanding its product offering, and developing its technology.
The business headcount grew by 221.4% between 2022 and 2023, from 28 to 90.
Abound
Growth in headcount: 280%
Location: Hackney
Sectors: Consumer banking and financial services, mobile apps, software-as-a-service (SaaS)
Abound has developed online software designed to provide affordable loans by connecting bank account data to assess what potential borrowers can afford, rather than credit scores.
The business has raised a total of £35.9m to date through five rounds of equity fundraising. The largest and most recent of these was for £20m in October 2023. This round gave it a post-money valuation of £89.2m.
Between 2022 and 2023, the company’s headcount increased from 10 to 38—a huge 280%.
Giraffe360
Growth in headcount: 921.1%
Location: Camden
Sectors: Business estate agency services, marketing services
Giraffe360 manufactures a camera designed to provide accurate floor plans, available to real estate agents on a subscription basis, as well as cloud storage and management services for the photographs. It was featured on the BusinessCloud PropTech 50 high-growth list in 2023.
Since being founded in 2016, the company has raised £36.2m through seven rounds of fundraising. Their most recent post-money valuation was listed at £33m. Between 2022 and 2023, the company’s headcount grew by a whopping 921.1%; from 19 to 194 staff members.
The future of startups in London
The UK’s SaaS sector is likely to continue its growth, driven by advancements in technology, increased digitalisation across industries, and a growing reliance on cloud-based solutions. Businesses in the UK are recognising the benefits of SaaS, including cost-effectiveness, scalability, and accessibility, which will contribute to the sustained expansion of the sector.
Data security and privacy concerns will likely become more prominent, influencing how SaaS companies operate. With evolving regulations and an increased awareness of data protection, SaaS providers in the UK will need to prioritise robust security measures and compliance with relevant standards.
Innovation and differentiation will be crucial for SaaS companies to stay competitive. Those who develop cutting-edge technologies, provide unique solutions to industry-specific challenges, and adapt to changing market dynamics will be well-positioned for success.
Working with Beauhurst
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