UK banking tech centre stage for Tech Nation’s Future Fifty programme

10 out of the 24 companies taking place are leading digital transformation in banking

Fintech

Many of the UK's finance startups have made their way onto Tech Nation's Future Fifty programme - a showcase of 24 businesses that show great promise in the world of tech.

Almost half (10 out of the 24) are fintech firms, demonstrating how buoyant the sector is in the country. Monzo, Revolut and Starling Bank have all been highlighted in Tech Nation's annual report, which was set up to recognise the businesses ready to scale up their operations.

As part of the initiative, the chosen businesses are put in contact with some of the UK's tech leaders to help them build their presence and produce a roadmap for the future. They will gain access to high-profile decision makers in government and benefit from masterclasses run by other tech leaders.

Past participants have gone on to file for IPO or have successfully closed acquisition deals to be sold to other, high profile businesses.

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"The UK has a fantastic track record of producing globally successful tech companies and I'm pleased to see another diverse and impressive group of firms in Tech Nation's 2019 Future Fifty Programme," said Jeremy Wright, Secretary of State For Digital, Culture, Media and Sport.

"The list highlights the underlying strength of our digital economy and emphasises its huge potential. We are doing all we can to make sure this vital industry continues to grow and our young businesses are given the right support to thrive."

Alumni of Tech Nation's scheme include major retailers and services such as Deliveroo, Farfetch, Skyscanner, Made.com, Shazam and Just Eat.

Since the organisation began its mentorship programme in 2013, participants have raised more than $8bn from VCs and capital markets, as well as inspiring the next generation of tech entrepreneurs to pursue their ideas.

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