The UK is taking the fintech game to the sky and beyond. Digits from a study by Innovate Finance estimates last year UK’s financial technology market pulled a first-time investment worth a whopping $4.9 billion to beat 2018’s $3.6 billion.

That remarkable performance places the UK at number two after the US—and hot on her heels in terms of payment tech. UK’s fintech sector is pillared by several factors, including the nation’s long-established know-how in finance, proper regulation of open banking, and the increasing adoption of newer banking methods among consumers.

It’s no wonder investors predict a bright future for the sector and counting on startups to develop the next game-changer.

So, what are some of the UK’s most promising fintech firms predicted to grow big?

Thought Machine

Thought machine was created in 2014 for four former Google employees. Paul Taylor (CEO), Will Montgomery (CTO), Matt Wilkins (COO), and Peter Ebden (CIO) worked together to develop VaultOS, later branded Vault, which it rolled out two years later.

The Vault was a cloud-based system meant to facilitate faster and affordable scaling as more consumers joined without the installation of premise data centers and large teams maintain infrastructure.

Since its rollout, Thought Machine has landed large deals with Atom Bank, IBM, Lloyds Banking Group, which also spent £11 million in the company in 2018 in trade for 10 percent shares.

In March, the company raised up to $83m in Series B funding, led by Draper Esprit and donations from existing investors.

Still, no customers have confessed to have used Thought Machine’s major banking platform.


Currencycloud was started in 2012 to focus solely on ’embedded’ cross-border transactions.

The firm has developed an API that enables services like Visa, Standard Bank, and Starling Bank to offer its consumers overseas payments.

In January, Currencycloud raised an impressive $80 million in a Series E funding thanks to Visa, World Bank Group, BNP Paribas, Siam Commercial Bank, and other investors.


Primer, a fintech whose primary goal was to synchronize all the tech required to enable payments via different channels and geographies, only came to limelight in the start of 2020.

The service is open only for early-access users and combines analytics, fraud protection, and compliance controls for a comprehensive experience.

Engineered by ex-PayPal employees Paul Anthony and Gabriel Le Roux, who were behind Braintree, Primer definitely stands a chance in the race for the best-consolidated API.

In May, the firm raised £3.2 million, funded mainly by Balderton Capital, among other investors.

Final Words

Other fintech companies attracting investors include Exo, Monzo, Starling Bank, Divido, TrueLayer, Paybase, Nutmeg, GoCardless, Revolut, Receipt Bank, Clear Bank, iwoca, Tide, Chip and so on.

Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of ecommerce and helps business owners compare merchant services. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie on his backyard porch, as should all right-thinking people.