20 Largest Private Tech Companies in the UK — October 2026
Last updated on 16 October 2026·Europe
These are the UK's top 20 highest valued private companies
As of October 2026, Revolut is the UK's largest private tech company, valued at $115B, followed by Fluidstack and Nscale, valued at $18.0B and $14.6B respectively.
The top 20 companies have combined $200B+ in value
Fintech is the UK's superpower - majority of companies on the list operate across fintech/payments
Just after the top 20, there is infamous OnlyFans - one of the UK's highest valued private tech companies, valued at $3.1B
UK's top 20 unicorns - complete list
This ranking includes 20 largest private tech companies in the UK. It might include acquired companies that operate in a standalone way. Most valuations are last reported or recently rumoured.
On ZIRP-era valuations: we exclude companies that latest reported valuation would be enough to hit the list, but it is expected that the company is now valued significantly lower.
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1
RevolutRevolut is a London-headquartered digital banking platform serving over 40 million customers across Europe, the United States, and Asia. It provides mobile app-based services including multi-currency accounts, debit cards, international transfers, cryptocurrency exchange, commission-free stock and commodities trading, and insurance products. Founded in 2015, Revolut holds banking licenses in Lithuania and the UK.
$115B
19.2x
$6.0B
Jul 2026
–
2
FluidstackFluidStack delivers a leading AI cloud platform with supercomputing infrastructure for AI labs, governments, and enterprises, serving clients like Mistral, Meta, and Black Forest Labs.
$18.0B
–
–
Sep 2026
$1.5B
3
NscaleNscale is an AI infrastructure company and global hyperscaler that builds, owns, and operates data centers and high-density GPU clusters. The neocloud startup integrates everything from renewable power generation to hardware and orchestration software to support AI training, fine-tuning, and inference workloads for enterprises and governments. Unlike traditional cloud providers, Nscale builds and operates its own data centers in regions with abundant, low-cost renewable energy (e.g., hydropower in Norway, renewables in Texas). In West Virginia, the company even owns behind-the-meter natural gas power plants to insulate operations from local grid fluctuations.
$14.6B
–
–
Mar 2026
$2.0B
4
Blockchain.comBlockchain.com is a cryptocurrency financial-services and infrastructure company founded in 2011. It began with a public Bitcoin block explorer and later developed consumer wallets, brokerage and exchange products for buying, selling, storing and transferring digital assets. The company also serves institutions through trading, custody and market-access capabilities. Its self-custody products allow users to control their own private keys, while custodial services operate under the company's compliance and licensing framework. Blockchain.com earns revenue from trading spreads, transaction and service fees, and institutional products rather than from the underlying public blockchains. The business has operated internationally from London and other offices, serving customers across numerous jurisdictions subject to local availability. Its financing history includes venture and strategic rounds used to expand products, regulatory coverage and institutional infrastructure through changing crypto-market cycles.
$14.0B
–
–
Mar 2022
–
5
Checkout.comCheckout.com is a global payment processor supporting transactions in over 150 currencies through a unified API. It delivers in-country acquiring across more than 50 countries, advanced fraud detection powered by machine learning, and comprehensive reporting dashboards. The platform accepts all major credit and debit cards alongside local methods such as iDEAL, Alipay, and Klarna. Checkout.com maintains offices in London, New York, Singapore, and 16 other locations worldwide. Launched in 2012, it serves enterprises like Sony, Revolut, and McDonald's with scalable infrastructure for high-volume payments.
$12.0B
–
–
Sep 2025
–
6
DAZN
$10.0B
2.9x
$3.4B
–
–
7
ION Group
$9.3B
2.8x
$3.3B
–
–
8
KrakenKraken is a London-headquartered customer engagement platform for energy, water, and broadband providers across Europe and North America. Its technology stack includes billing, CRM, self-service portals, and smart metering analytics to streamline operations. Kraken serves utilities like Octopus Energy and OVO, enabling net-zero transitions through demand response and EV charging management. The platform processes millions of customer interactions monthly, supporting regulatory compliance in deregulated markets.
$8.7B
–
–
Dec 2025
$1.0B
9
WayveWayve is a London-headquartered AI company building end-to-end machine learning software for self-driving vehicles. Founded in 2017, the technology enables mapless navigation by learning from driving data to handle diverse urban environments. Wayve collaborates with automakers like Nissan and has testing operations in the UK and US.
$8.6B
–
–
Jun 2026
–
10
SumUpSumUp is a London-headquartered financial technology company that provides small merchants, independent shops and sole traders with card readers, point-of-sale systems and a suite of business tools. Its products include portable card terminals, the POS systems of acquired Goodtill and Tiller, payment links, an online store builder, invoicing software, business accounts with debit cards and merchant cash advances, and it earns mainly transaction fees plus hardware and subscription revenue. The company serves more than four million small businesses in about 35 markets across Europe, the Americas and Australia, and employed around 3,000 people in 2022. It generated revenue of roughly EUR 1 billion in 2023 and has been EBITDA-positive since the fourth quarter of 2022. SumUp was founded in Berlin in 2012 by a team including Daniel Klein, Marc-Alexander Christ and Stefan Jeschonnek, and launched its first card reader in August 2012. It is privately held by its founders and investors including Bain Capital Tech Opportunities, Sixth Street, BlackRock, Groupon and American Express, and was valued at an enterprise value of EUR 8 billion in its June 2022 funding round.
$8.5B
14.2x
$600M
Jun 2022
$619M
11
FractileFractile is a London-based startup that designs specialized AI inference chips using an in-memory compute architecture built to run large AI models faster and more cheaply than conventional GPUs. Founded in 2022, the company targets up to 100 times faster model execution and 10 times lower costs, or 20 times better performance per watt, and has hired senior engineers from Nvidia, ARM, and Imagination. Fractile positions its hardware to compete with the GPU-based AI infrastructure of incumbents such as Nvidia.
$7.1B
–
–
Oct 2026
$769M
12
Ineffable IntelligenceIneffable Intelligence builds machine learning systems that learn via reinforcement learning through interaction and experience in simulated or real environments. These systems form a superlearner capable of autonomous knowledge generation, adaptation, and problem-solving across domains.
$5.1B
–
–
Apr 2026
$1.1B
13
ZepzZepz is a London-headquartered fintech operating WorldRemit and Sendwave brands for international money transfers. The platform serves customers in 50 countries, facilitating remittances to over 140 destinations in Europe, Asia, Africa, Australia, and the Americas. Recipients access funds via bank deposits, cash pickup at 25,000 locations, mobile wallets, or airtime top-ups. Zepz processed billions in transfer volume annually through its digital-first model.
$5.0B
14.8x
$338M
Aug 2021
$292M
14
Fuse EnergyFuse Energy is a British energy company, headquartered in London, that supplies electricity and gas to households and operates its own renewable generation. It was founded in 2022 by Alan Chang and Charles Orr, both previously at Revolut. The company integrates generation, trading, supply and hardware, and says it delivers power at prices about 10 percent below incumbent suppliers. It supplied about 200,000 UK households by December 2025 and reported annual recurring revenue of about USD 400 million at that date. In December 2025 it raised USD 70 million in a Series B led by Balderton Capital and Lowercarbon Capital at a valuation of USD 5 billion. It bought the electricity supplier Paddington Power in 2022 and the Balnamoon wind turbine the same year, and later added solar projects.
$5.0B
9.1x
$550M
Jun 2026
$30M
15
LendableLendable is a London-based peer-to-peer lending marketplace matching individual investors with personal loan borrowers in the United Kingdom. The platform processes applications in minutes without paperwork, funding loans from investor deposits.
$4.7B
40.8x
$114M
Mar 2022
$276M
16
Recursive SuperintelligenceRecursive Superintelligence is an AI research firm building systems that autonomously improve via recursive self-learning. Its frameworks automate the AI development lifecycle, including experiment design, model training, evaluation, and optimization in feedback loops. The technology reduces manual engineering for scalable applications in research, enterprise deployment, and data-driven settings.
$4.7B
–
–
May 2026
$650M
17
RapydRapyd is a payments and financial technology company that sells a single set of programming interfaces for accepting payments, sending payouts, issuing cards and holding multi-currency accounts. It was founded by Arik Shtilman, Arkady Karpman and Omer Priel, has offices in London and Tel Aviv, and describes itself as supporting hundreds of local payment methods across more than a hundred countries. Customers include online marketplaces, gig economy platforms, e-commerce merchants, trading platforms and financial institutions. The company raised about 960 million dollars in venture rounds by 2021 and announced a 500 million dollar raise at a 4.5 billion dollar valuation in March 2025 to finance its 610 million dollar purchase of PayU's global payment organisation. Earlier it bought Korta and Valitor in Iceland and the Hong Kong business Neat, and it runs Rapyd Ventures, a corporate venture arm. Its chief executive has said the combined group expects about 1.1 billion dollars of revenue in 2025.
$4.5B
4.5x
$1.0B
Mar 2025
$500M
18
SynthesiaSynthesia is an AI video generation platform headquartered in London, United Kingdom, converting text to videos with avatars and voiceovers in over 140 languages. Users create training and marketing content via browser templates, serving enterprises like BBC and Accenture for scalable video production.
$4.0B
40.0x
$100M
Oct 2025
$200M
19
Thought MachineThought Machine is a London-headquartered fintech founded in 2017, delivering the Vault Core cloud-native banking platform to replace legacy systems. Adopted by JPMorgan Chase for its digital bank, Lloyds Banking Group, and Standard Chartered across retail, corporate, and investment banking, Vault supports real-time processing via microservices on AWS and Google Cloud. The platform handles mortgages, deposits, and payments compliant with PSD2 regulations. Thought Machine serves 20+ financial institutions globally with headquarters in the UK and offices in Singapore and New York.
$3.6B
56.7x
$63M
Jul 2025
$59M
20
OLIXOLIX manufactures optical tensor processing units accelerating AI workloads through light-based circuits for matrix operations in training and inference.
$3.3B
–
–
Aug 2026
$312M
Data and methodology
Underlying data
Public markets data is powered by FactSet (consensus analyst estimates), and Morningstar (historical data). Data points are calendarized to December where relevant: retrieved data on financial year ends (e.g. FY, FY+1 etc.) are mapped to calendar years (2025A, 2026E etc.) before the appropriate month weights are then applied to prior/future fundamentals.
Private transaction data is multi-sourced, aggregated from harvesting public information, 3rd party APIs, and data engineering. All data is verified and provided with an extensive manual process. If data permits, we apply our own logic to get to the EV. For example, for a large M&A deal with available information on the target's net debt, we might adjust a valuation to fully reflect an accurate EV. In all other cases, we take the reported valuation as the numerator. Financials: we source LTM revenue and LTM EBITDA data from company filings, press releases, or other verified sources. If LTM data is unavailable, we take the 'next best-fit' period (run-rate or calendar year), provided it makes sense in a given case. For example, if a deal closed in November 2025, we might take full-year 2025 revenue as a revenue benchmark.
Any raw figures are harmonised to USD for comparison purposes.
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