5 UK Scaleups Join TECH5: The Tech Champions League
▼ Summary
– Five UK scaleups were selected for TECH5, a competition to crown Europe’s hottest scaleup, with all finalists based in the UK.
– The UK is Europe’s top tech hub, attracting €17.5bn in investments last year, while Ireland thrives due to low taxes and a skilled workforce.
– Allica Bank, a UK fintech, is Britain’s fastest-growing business, focusing on user-friendly banking for established businesses.
– PolyAI develops lifelike AI voice agents for call centers, aiming to automate up to 75% of customer interactions.
– Artios Pharma, Zilch, and Veremark are other UK TECH5 finalists, excelling in cancer treatment, BNPL services, and hiring verification, respectively.
Five of the UK’s most promising scaleups have secured coveted spots in TECH5, an elite competition often dubbed the “Champions League of Technology.” This achievement marks the conclusion of the UK and Ireland regional heats, setting the stage for the pan-European finals to determine the continent’s most exciting high-growth company.
Both nations entered the competition with formidable tech credentials. The UK maintains its reputation as Europe’s premier tech hub, backed by robust investment activity, cutting-edge startups, and deep talent reserves. In 2023 alone, British tech firms attracted €17.5 billion in funding, reinforcing London’s dominance alongside innovation powerhouses Cambridge and Oxford.
Ireland, meanwhile, continues to punch above its weight in tech. Favorable corporate tax policies have drawn Silicon Valley heavyweights, while a skilled workforce and EU membership bolster homegrown success stories like Stripe, LetsGetChecked, and Wayflyer.
This year’s TECH5 lineup, however, is exclusively UK-based, with London hosting four of the five finalists. Selected for their rapid growth, market influence, and future prospects, these companies represent the best of British innovation.
Allica Bank
Since its 2020 launch, Allica Bank has emerged as one of Britain’s fastest-growing fintechs, earning recognition from the Sunday Times and Sifted for its explosive revenue growth. Specializing in business banking, Allica focuses on mid-sized firms underserved by traditional institutions.
“Legacy banking systems weren’t built for modern businesses,” says CTO Ravneet Shah. “We’re designing intuitive, scalable solutions so companies can focus on growth rather than financial hurdles.”
PolyAI
Co-founded by a former Siri engineer, PolyAI builds hyper-realistic voice assistants for customer service, serving brands like Marriott and Volkswagen. Its AI agents mimic human conversation, reducing call center reliance. A recent $50 million funding round valued the company at nearly $500 million.
“Voice remains the preferred customer service channel,” explains CEO Nikola Mrkšić. “Our goal is to make these interactions seamless—and maybe even enjoyable.”
Artios Pharma
The only non-London finalist, Cambridge-based Artios pioneers next-gen cancer therapies targeting DNA repair mechanisms in tumors. Early trials show promising results, attracting over €261 million in funding. Its leadership includes veterans behind AstraZeneca’s breakthrough drug Lynparza.
Zilch
This ad-supported BNPL platform disrupts traditional credit models with interest-free payments, spending controls, and rewards. Achieving unicorn status in record time, Zilch now boasts 5 million users and profitability—a rarity in fintech.
Veremark
Revolutionizing hiring, Veremark’s automated background checks replace outdated screening methods. Its blockchain-powered “career passport” lets professionals manage verified credentials, streamlining recruitment for employers.
What’s Next?
The UK contenders will face winners from six other European regions, with the ultimate champion crowned at June’s TNW Conference. For those wanting front-row seats, tickets are available with a 30% discount using TNWXMEDIA2025.
These scaleups exemplify the dynamism of British tech—proving that even in uncertain economic times, innovation thrives.
(Source: The Next Web)
