London is swiftly gaining a reputation as the fintech capital of Europe. As more and more number-crunching startups settle down here, the city is carving out its own cross-industry niche. In fact, recent figures reveal that investment in financial technology in the UK’s capital is growing faster than anywhere else in the world, and accounts for more than half of European investment in this sector.
1. Osper – For empowering the next generation to manage their finances
What happens when you let young people build their own bank? That’s the question posed by Osper, a participant in London’s first TechStars program in 2013. And by young, we’re talking back to the days of piggy banks and lemonade stands. Osper aspires to instill the next generation with the right kind of money-saving values from a young age.
Founded by Alick Varma, who formerly worked at Spotify and Mendeley, the small team aims to inspire good habits in young people beyond offering a standard banking service. So far they’ve launched youth organisations including ShellsuitZombie, Capture Collective and Interns Experience. Backed by an impressive group of advisors, we’re excited to see this family focused venture thrive.
2. Elliptic – For preventing irreversible Bitcoin binning mishaps
A need for secure trading channels for digital currencies comes hand in hand with the need for secure places to store them. Elliptic are on the forefront of this space, working to unleash the potential of Bitcoin as the “world’s first insured storage service”.
As part of London’s 2014 Seedcamp Week, the early stage company has rolled out its first product called Elliptic Vault. This service offers users ‘deep cold storage’, meaning the privately encrypted key is stored offline and in a secure location. Co-founders Tom Robinson, James Smith and Adam Joyce have announced more upcoming projects, which could make this London startup a big player in the Bitcoin storage space.
3. Invoiceable – For soothing our admin headaches
There are plenty of ventures tackling the fintech scene with business administration and payment processing software. When it comes to the age-old invoice though, Invoiceable wins our vote for simplicity. The free platform allows users to create, send and manage professional looking invoices in seconds. Launched in September 2012, the company reached record growth with 26,000 registered users in two months and was rated the #1 billing and invoice app on bestvendor.com.