The UK is one of the most vivid capitals of global innovation, with London as a top tech hub in Europe. The country dominated the continent with outstanding technological projects and skyrocketing tech startups. SaaS companies in the UK strongly contribute to country’s technological development and attract investors from all around the globe. Only in 2019 British startups received £9 billions of funding, comparing to only £4 billions in 2016.
Let’s take a look at the best SaaS companies in 2020 and their rapid growth.
The recent winner of the Wales Technology Awards 2019, with funding received from Seed and Venture Capital. Vizolution is one of the most interesting SaaS companies in the UK. They offer instant, intuitive and easy screen sharing for organizations eager to improve their remote work and to go step further in replacing face-to-face contacts.
They allow clients and coworkers to easily interact online by giving them tools to sign, verify, exchange and display data and documents without physical meetings. In the era of coronavirus their services seem to be tremendously promising.
TransferWise, one of the most interesting SaaS companies in London, is an online money transfer service allowing users to send money abroad or receive it from abroad much cheaper than with standard banking services. They deliver it by replacing one international transaction with two local remittances.
Moreover, TransferWise helps to convert money of different currencies in a safe and convenient way. They provide services for both individuals and businesses, including paying invoices and handling payrolls with the real rate and zero fees. Operating in 40 countries, with the last funding received in Jan 2019, now they value nearly $3.5 billion.
Sideways6 is a unique SaaS web app focused on collecting and exploring employees’ ideas. They support and improve the daily life of organizations by increasing the motivation of their team members who may feel disrespected and not heard out.
This SaaS company in London allows employees to communicate via various platforms including Slack, Yammer or even Facebook. This enables them to discuss their ideas via software they are familiar with, with no need for additional training or preparations.
Then tools provided by Sideways6 track the best ideas and analyzes trends in the data, so managers can easily review suggestions and assess their results. The project has already helped nearly 3 millions of employees and reached £500 thousands in the Seed Round.
Rapyd is a fintech SaaS solution from the UK supporting global commerce. They enable customers to complete their payments with a method of their choice, including both in-country and cross-border sales.
Their tool easily integrates standard payment solutions like bank transfers into convenient digital applications. Raising $170M in total, with the last funding in Dec 2019 from a Series C round, they grew to the value of at least £312 million.
Snyk is a SaaS company from London providing top companies like Google, Skyscanner or Microsoft and their technical staff with a tool increasing security of code development.
Their solution enables to detect, prevent and fix vulnerabilities in code modules prepared by third-party contractors and has been already used by nearly 300.000 developers around the world. With the last funding in Jan 2020 from a Series C, they managed to reach $252 million in total.
When it comes to B2C SaaS 2020 solutions, MeTail definitily stands out. Based in Cambridge, they provide one of the most advanced tools of a kind. As modern consumers tend to shop for clothes online, this solution helps them to fit in clothes remotely - just on the avatar reflecting their own size and shape, created in MeTail SaaS web app.
The tool supports clients in their decision making process, but also decreases the number of returns in stores. MeTail received their last funding in 2017, but due to coronavirus pandemic and increased demand for online shopping solutions, it is expected to become one of the top SaaS companies in 2020.
Onfido is a SaaS startup in London helping to verify the identity of customers purchasing digital products. As a threat of cyber crimes is constantly growing, using PINs, passwords and other knowledge-based authentication expose businesses to frauds.
Onfido provides the intuitive tool to verify users by their biometric data via integrating their technology into client’s existing tech stack, what mitigates the risk of cyber attack. They received their last funding in April 2020 from a Series D, reaching $182 million in total.
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