Posted on December 23, 2019 by staff

2019’s biggest tech funding rounds


Investment in the UK tech sector is set to reach at least $11bn this year as 2019 draws to a close.

This, compared with 2018’s total $7.52bn in UK tech investment, demonstrates the sector’s promise of growth not only within the UK but on an international stage.

UK tech companies secured a record £5.5bn in foreign investment in the first seven months of 2019, according to research from the Department of Digital, Culture, Media and Sport.

And while FinTech and AI may be the main attractions this year, as our list below shows below, the UK’s tech offering is a broad church.

Alongside AI and FinTech, UK firms in HealthTech, telecoms and marketing tech also secured multi-million pound sums for their new innovations.

To demonstrate, below are some of the UK’s biggest funding rounds as covered by BusinessCloud in 2019.

Trak: £40m

The Crewe-based telematics firm secured the funds through the sale of a minority stake of the business


ContractPodAi: £42.4m ($55m)

The AI-powered contract lifecycle management software firm announces its Series B fund in July, and said it would scale-up globally following the investment


Unily: £52m ($68m)

The SaaS-based digital workplace solution, boasting clients including McDonald’s, said in June it would use the investment to capture market share


Healx: £43.2m (€50.7m)

The Cambridge-based AI-powered drug discovery platform secured the capital in a series B funding round led by Atomico


Tide: £44.1m

Secured in October in a Series B funding round, the FinTech said it planned to substantially increase its share of UK business banking market and expand internationally


Atom Bank: £50m

The cash injection from existing investors was earmarked for business growth and further product development by the Durham firm in July


Rapyd: £76m ($100m)

The London-based ‘FinTech-as-a-service’ firm raised the capital in October to accelerate its network and its cloud-based financial services tools


Pollen: £46m ($60m)

The London-based Gen Z experience marketplace raised the new financing in a round led by Northzone


GoCardless: £58m ($75m)

The London FinTech firm raised the capital in Series E investment back in February, and planned to use the funds to drive organic growth on a global scale.


Onecom: £100m

The Hampshire-based telecoms business secured the funding package to help support organic and acquisitive growth


Sonovate: £110m

The UK FinTech, which provides tech to the recruitment sector, secured the capital in in debt and equity finance in September. It planned to use the funds for international expansion


Monzo: £113m

The UK challenger bank Monzo raised the capital from Silicon Valley, bringing the unicorn’s valuation to $2bn in just four years


You & Mr Jones: £153m ($200m)

The marketing tech group raised the capital in a Series B funding round, bringing its valuation to $1.3bn (£1bn)


Hastee: £208m

The payday loans alternative said it would use the capital to scale up its offering, which allows employee early access to up to half their pay


Babylon Health: £453m

The HealthTech start-up secured the Series C funding in August, leading investor to value the firm at over $2bn