London has always been a center for innovation, and now it’s becoming a major hub for blockchain startups. With a rich mix of tech talent, venture capital, and supportive regulations, the city is perfect for driving new ideas in blockchain. Here are some startups that are making waves in 2024.

Key Takeaways

• London is emerging as a major hub for blockchain startups.
• The city offers a mix of tech talent, venture capital, and supportive regulations.
• Blockchain.com, Checkout.com, and Moneybox are some of the key startups to watch.
• These companies are pushing the limits of blockchain technology in various industries.
• London’s blockchain scene is growing and attracting a lot of attention.

Blockchain.com

Founded in 2014, Blockchain.com has become one of the top blockchain startups to watch in London. The company was a pioneer in the blockchain industry, creating essential infrastructure for the Bitcoin community. One of their key innovations is the Blockchain Explorer, which lets users examine blockchain transactions and build on Bitcoin through their APIs.

Blockchain.com is a full-stack crypto services platform. It allows users to hold, trade, and manage cryptocurrency assets. The company works with both B2B and B2C clients to develop financial services standards and infrastructure for cryptocurrencies.

When it comes to funding, Blockchain.com’s story is pretty impressive. They’ve scooped up a sizable £356 million from investors. In 2021 alone, they pulled in a whopping £218 million in just one funding round. Recently, they wrapped up a Series E funding round that brought in a cool $110 million. It’s clear that Blockchain.com isn’t just playing the game – they’re setting the pace.

London’s vibrant ecosystem hosts innovative blockchain startups like Blockchain.com, shaping the future of technology and finance.

Checkout.com

Checkout.com is an API-based platform that offers online payment solutions, making the checkout process easier for users. The company has grown significantly, reflecting the rise of blockchain startups in London. With a smart routing logic and a single integration to multiple onramps, Checkout.com boosts transaction success rates by up to 5x.

Key Features

• Smart Routing Logic: Increases transaction success rates.
• Single Integration: Simplifies the payment process.
• Direct Checkout Solution: Enables one-step purchasing from fiat payment rails.

Funding and Growth

Checkout.com has secured $379,859 in funding, showcasing its potential in the fintech space. The company continues to innovate and expand, contributing to the dynamic landscape of blockchain startups in London.

Checkout.com is a key player in the fintech industry, driving innovation and simplifying online payments.

Team and Expertise

The co-founders bring a wealth of experience, including roles such as chief strategy officer of a $2.4B coincap protocol and leading technical implementation of Singapore’s central bank’s experiment in cross-border payments on blockchain rails. This expertise positions Checkout.com as a leader in the fintech sector.

Moneybox

Moneybox is a mobile savings and investment application that helps users save and invest their spare change. Founded in 2015 and based in London, the app allows users to round up their everyday card transactions and invest the difference into various tracker funds within stocks and shares.

Key Details

• Number of employees: 101-250
• Funding: $61,011,214

Products

Moneybox offers a variety of savings and investment options, including Lifetime ISAs and Pensions. The app is designed to make investing simple and accessible for everyone.

Moneybox is revolutionizing the way people think about saving and investing by making it easy and automatic.

Competitors

Moneybox faces competition from other fintech startups and traditional financial institutions. However, its unique approach to micro-investing sets it apart in the crowded market.

Financials

With over $61 million in funding, Moneybox is well-positioned for growth. The company continues to attract investors who believe in its mission to make saving and investing accessible to all.

Employees

Moneybox has a dedicated team of 101-250 employees who are passionate about helping people achieve their financial goals.

Marshmallow

Marshmallow is a London-based startup that is shaking up the insurance industry. They offer car insurance that is more inclusive and affordable, especially for immigrants and expats who often face higher premiums.

Key Details

• Number of employees: 51-100
• Funding: $36,724,274

Why Marshmallow Stands Out

Marshmallow uses advanced technology to assess risk more accurately, which helps in offering better rates to their customers. Their approach is not just about profit but also about making insurance fairer for everyone.

Marshmallow is a prime example of how technology can be used to make traditional industries more inclusive and fair.

Future Prospects

With their innovative approach, Marshmallow is poised to expand its services beyond car insurance, potentially venturing into other types of insurance products. This makes them a startup to watch in the coming years.

Onfido

Onfido is a leading player in the identity verification space, leveraging blockchain technology to enhance security and trust. Founded in London, this startup has quickly become a go-to solution for businesses needing reliable identity checks.

Onfido’s platform uses a combination of artificial intelligence and blockchain to verify identities, ensuring that the process is both fast and secure. This makes it an ideal choice for companies in various sectors, including finance, telecommunications, and crypto-web3.

• AI and Blockchain: Onfido’s use of AI and blockchain technology sets it apart from traditional identity verification methods.
• Global Reach: The company serves clients worldwide, making it a truly global player in the identity verification market.
• Regulatory Compliance: Onfido is known for its strong focus on regulatory compliance, which is crucial for businesses operating in highly regulated industries.

Onfido is one of the top blockchain startups in the UK, leading in blockchain technology applications and regulatory compliance.

With its innovative approach and strong market presence, Onfido is definitely a startup to watch in the blockchain space.

Revolut

Revolut is a digital banking alternative that offers real-time payment notifications, free international money transfers, and no fees worldwide. With a UK banking license finally secured, Revolut is set to enter a ‘mobilization’ period to transition into a full-fledged bank. This move is expected to further solidify its position in the fintech space.

Key Features

• Real-time payment notifications
• Free international money transfers
• No fees globally

Company Details

Number of Employees	Funding
1001-5000	$836,954,619

Revolut’s growth is a testament to the rise of blockchain startups in London: a new tech hub. London is a growing center for blockchain startups, supported by government policies and investment, driving innovation and job creation.

Revolut’s leadership team includes experts who have led major projects in crypto and subscriptions, further enhancing its capabilities in the fintech sector. The company’s innovative approach continues to attract a large user base, making it a key player in the industry.

Monzo

Monzo is a digital-only bank that offers a wide range of products and services to its users. Unlike traditional banks, Monzo operates entirely online, making banking more accessible and convenient for everyone.

Details of the Startup

• Number of employees: 1001-5000
• Funding: $492,842,818

Monzo’s innovative approach has made it a notable player in the fintech space. The company continues to grow and expand its offerings, making it one of the notable startups to watch in the UK.

Monzo’s success is a testament to the rise of blockchain startups in the UK: a comprehensive guide. The UK offers support for blockchain startups, innovative products, notable startups to watch, and steps to create a blockchain startup.

You can find their website here.

Starling Bank

Starling Bank is a mobile banking app that offers a debit card to help customers manage their money. The company has grown rapidly and now has between 501 and 1000 employees. They have raised a significant amount of funding, totaling $427,032,135.

Starling Bank is preparing for an IPO in London and has received pitches from several investment banks. This move is expected to further boost their growth and market presence.

Key Details

• Number of Employees: 501-1000
• Funding: $427,032,135

Starling Bank’s revenue jumps 50% ahead of the expected IPO, showcasing their strong financial performance and market potential.

Starling Bank continues to innovate in the fintech space, making it a startup to watch in London.

Elliptic

Elliptic is a London-based startup that offers blockchain analytics, certifications, regulatory compliance, and financial management services. Founded in 2013, it began as a simple Bitcoin storage service to protect private keys from hacks and thefts. Over time, it has evolved into a comprehensive blockchain analysis provider, working with some of the largest financial institutions to shield them from financial crime in crypto assets.

Elliptic helps investigate illegal Bitcoin transactions by tracing them through all entities in the chain. It maintains a database of millions of Bitcoin addresses to detect suspicious cryptocurrency activity. One of their key areas of research and development is responding to ransomware attacks. The team has developed software that can identify such attacks and trace the ransom received during them.

Recognized as a Technology Pioneer by the World Economic Forum, Elliptic is the only blockchain analytics provider to receive this honor.

Elliptic’s growth is evident from its impressive funding rounds. In 2015, the startup raised $5 million in seed funding, followed by $23 million in Series B funding in 2019. Their most recent Series C round brought in an impressive $60 million. Currently, Elliptic manages 66% of all crypto volume exchanges globally, showcasing their rapid growth and impact in the blockchain security space.

Everledger

Everledger is an immutable ledger that tracks the ownership of diamonds and other assets, as well as their supply chain history.

Details of the startup:

• Number of employees: 51-100
• Funding: $37,400,000

Everledger’s technology ensures transparency and trust in the supply chain, making it a key player in London’s rise as a blockchain tech hub.

Everledger’s innovative approach to asset tracking is transforming industries by providing a secure and transparent way to verify the history and ownership of valuable items.

You can find their website here.

Conclusion

London is clearly making its mark as a leading hub for blockchain innovation. With its strong financial background, talented tech professionals, and supportive environment for startups, the city is well-equipped to foster groundbreaking blockchain companies. The startups we’ve highlighted are just a few examples of the exciting work being done in this space. As blockchain technology continues to evolve, it’s worth keeping an eye on these innovators who are pushing the boundaries and shaping the future of various industries.

Frequently Asked Questions

What is blockchain technology?

Blockchain is a type of technology that keeps a record of transactions across many computers. It makes it hard for anyone to change or cheat the system.

Why is London a good place for blockchain startups?

London has lots of tech talent, venture capital, and friendly rules that help new businesses. This makes it a great place for blockchain startups.

What does Blockchain.com do?

Blockchain.com is a website where you can buy, sell, and store digital money like Bitcoin.

How does Onfido use blockchain?

Onfido uses blockchain to make sure that people’s identities are real and safe.

What is unique about Revolut?

Revolut is a digital bank that offers many services like money transfers, spending, and even buying cryptocurrencies, all in one app.

Why should I care about blockchain startups?

Blockchain startups are changing many industries by making things safer, faster, and more transparent. They are the future of technology.

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