A recent Dealroom study from the end of 2022 stated that London was the top location for fintech companies. The city is a haven for little businesses hoping to achieve great things, so it’s not only about the major giants like Revolut and Starling Bank. So, here are top 10 of London fintech companies and why they are becoming more and more attractive.
TrueLayer
More unfavorable reports allege that some employees quit due to conflicts with management. However, a senior QA engineer’s annual wage cap is £90k, whereas a senior engineering manager’s salary cap is £140k.
If an employer that values engineers might be more your style, then TrueLayer is one such company. Payments, data infrastructure for banking, cryptocurrency, and other topics are the focus of fintech. Glassdoor ratings for TrueLayer are 4.5 out of 5 stars, with 100% CEO approval among the top 10 London fintech companies. Its “excellent tech stack” and “strong community of engineers” are praised in recent reviews. It was recognized for payment innovation in 2019 and has since made numerous lists of the finest IT businesses to work for.
Form3
Form3, one of the top London fintech companies focused on payments with an exceptional tech stack, stands out because to its cloud-native platform that was created from scratch and the possibility of working entirely remotely. It has received an outstanding 4.7 ratings from Glassdoor users. They commend their “strong and inventive product” for using the “greatest tech.” Regarding the workforce, they highlight a “transparent exec team” that gives them a lot of liberty and less micromanagement.
The majority of critiques target the fully remote work. Moreover, another issue is that the “connection between business/product and engineering is not that strong,” according to one review. Considering Glassdoor salary data, a senior software engineer has an average yearly salary of around £93k.
Checkout.com
At the end of 2022, Checkout.com, the largest payment service provider in London, drastically reduced its internal valuation. Despite this, the fintech unicorn is hard at work expanding, and its employees like being a part of it. They were ranked in the top 25 of the best workplaces for women, technology, and wellbeing by Greatplacetowork.com. It also ranked them among the top 50 large firms in London to work for. Additionally, they were ranked among the top three London fintech companies to work for by Glassdoor.
However, more recent evaluations on Glassdoor have been largely unfavorable. Many have recently voiced concerns about work-life balance, with one saying the organization is “excellent at fin, awful at tech.” According to Glassdoor compensation data, senior engineers at Checkout.com make an average salary of almost £82,000.
Capdesk
Equities management platform Capdesk was purchased by Carta, a competing company in San Francisco, in September of last year. Glassdoor evaluations compliment the “transparent” and “highly liked” management and founders despite the company’s low size. A “open” and “extremely good working environment,” particularly with regard to remote work, is also praised. There were several unfavorable reviews that forewarned of considerable staff turnover prior to the acquisition. Salaries and benefits “may be a bit less than what you could obtain elsewhere,” according to reviews.
Thought Machine
In recent years, Thought Machine has experienced significant growth and development. The cloud banking platform fintech has gained traction and received almost universal internal praise in recent years, despite accusations from the past that cast them in a negative light.
With a total score of 4.7 stars, they were ranked as the top London fintech companies for employee happiness in a 2020 Sifted analysis utilizing Glassdoor ratings. Positive assessments from more recent times highlight the “lots of autonomy” and “great treatment of staff” offered. According to data from Glassdoor, a software engineer makes an average total salary of over £86k, while a senior engineer makes an average salary of £114k.
Revolut – one of the major London fintech companies
Revolut, arguably London’s most well-known fintech, isn’t the right choice for everyone. This fintech is ideal if, on the other hand, you value rapid professional advancement and desire to leave a position far better than you entered. On Christmas Day, a Glassdoor review stated that it is “not for the faint of heart, but an experience of a lifetime.”
Working at Revolut seems to be more about where it can lead you in the future than what you do there. Younger workers are nevertheless given senior “operation principal” jobs, despite Alan Chang, who began at age 21 and left at age 28, having amassed a million dollars. At this company, senior engineers make an average income of £105k, compared to the average compensation of £86.5k for software engineers.
Wise
Money transfer fintech is yet another of London’s most important fintech unicorns. Perhaps the most aggressive fintech employer in London is Wise. However, in addition to being plentiful, jobs come highly recommended. Reviews highlight the company’s attentiveness to your job. This means that fulfilling deadlines has a bigger impact here than it does most other locations. Regarding the company’s culture, one Wise employee on blind enjoys its flexibility and laid-back attitude. An engineering lead can make £130k, while a lead finance product manager can make £140k in their senior positions.
Atom Bank
The challenger bank, which has its headquarters in the north of England but it has got a London office, stands out from the competition with its far more relaxed attitude to banking. It is one of the few instances of a four-day work week in the finance sector. Recent transfers by bankers to Spotify, which provides the same thing, show that many people enjoy the extra day off.
Glassdoor reviews characterize the business as “a huge family” with a “progressive, can-do attitude” and have an average rating of 4.3 stars. The lack of available engineering positions is simply Atom’s biggest employment market problem. Nonetheless, there are a respectable amount of more conventional finance positions available. According to Glassdoor, a portfolio manager at Atom Bank earns £80k per year.
Zopa
Digital bank Zopa was thought to have increased headcount by 27% in December. Not only were they increasing recruiting, but they were also lifting minimum wages by over 20% and offering a £500 winter bonus to individuals making less than £50,000 annually.
The average rating for Zopa reviews on Glassdoor is 4.6, and 98% of CEOs approve of the company. One reviewer claims to have received two promotions in 2.5 years, and they all laud the “great management” who “truly care about people.” The typical senior developer at Zopa, according to Glassdoor, makes over £83,000.
GoCardless
GoCardless, a different unicorn in the payments sector, is expanding internationally and hiring in France, Australia, and Latvia. However, the English capital is still where most recruiting takes place. Glassdoor reviews are overwhelmingly favorable, with a 4.2 star rating and 99% CEO approval. The “modern” stack and “extremely pleasant” engineering team are favorites among tech personnel in particular.
Lack of support for people with special needs, especially if their condition necessitates working from home, was one issue raised by a 2023 review. According to Glassdoor data, the average engineer makes £76k annually, while engineering managers might earn £128k.
