London has become Europe’s go-to destination for world-class start-up companies in the field of financial technology or ‘Fintech’ for short. The businesses located in London account for over 50% of all European investment in that field. The fintech sector in the UK’s capital is actually having more money invested in it than any other place on the planet. This article will examine some of these companies which could completely change the way we make, view and store our money.
This start-up was founded by X and Y and hopes to reinvent the pawnbroker industry. Influenced by the market-leading payday lenders Wonga, Unbolted allows its customers sizable loans with very low interest rates compared to their competitors. The firm already has two offices in London and another in Nottingham. According to co-founder Ashwin Parameswaran there is a big demand from asset-rich but cash-poor individuals in modern society, and hopes his business will turn into an industry leader by focusing on fairness, low cost, and transparency. They can be found at ‘unbolted.com’.
This firm is acclaimed for its simple formatting. As a free platform it lets the user create, manage and send professional looking invoices in only a few minutes. The company has only existed for a couple of years, but recently grew by 26,000 users within 2 months. On website bestvendor.com it was rated the number one app for billing and invoices.
Booking appointments online is not the way most of us would usually arrange a trip to the dentist. But think again, as Jozef Wallis has succeeded in creating a website called Toothpick which does exactly that. At the moment over 3500 NHS and private dentists can be found on the site, meaning it’s almost certain there will be one near you, and the process of booking is very simple. All you need to do is search, choose and book.
Company founders Tom Robinson, James Smith and Adam Joyce are leading the way when it comes to the Bitcoin business, a digital currency whose potential is infinite. The company develop safe, secure places to store bitcoins, and with a single coin now worth hundreds of pounds it’s very important that they’re kept safe. Their first product was ‘Elliptic vault’, in which coins are stored in an encrypted, offline location known as ‘deep cold storage’.
It may not do Osper justice to simply refer to it as a business, as so much of what they’ve done so far has been charity-based. Founder Alick Varma, who previously worked for Spotify and her team aim to inspire young people and to teach them the value of money from a lower age than in previous years. The company have also launched a range of youth initiatives, for example ShellsuitZombie, Capture Collective and Interns Experience.
It’s nothing to be worried about if half the businesses included in this article deal in matters or technological/financial fields you aren’t knowledgeable on. These companies exist to help you make some sense of those obscure modern subjects.