Recognized as one of the most dynamic and innovative ecosystems globally, the UK is home to a thriving network of startups, scale-ups, and established tech giants. With strong infrastructure, access to venture capital, and a highly skilled workforce, the UK remains a global leader in sectors like fintech, artificial intelligence, and digital health.
In 2024, the UK maintained its leading position, raising €17.5 billion (23.6% of total investments) across more than 861 deals. While the country retained its position from the previous year, the total amount raised was approximately 30% lower than in 2023, when UK companies raised €24.7 billion.
Nevertheless, the ecosystem faces challenges, such as a shortage of tech talent due to competition with global markets, high operating costs, and uncertainties around post-Brexit regulatory frameworks. Despite these obstacles, the UK’s tech sector remains resilient, continuing to attract significant investment and foster innovation.
Here are the 10 largest deals closed by UK companies in 2024.
SumUp
Amount raised in 2024: $1.5B
SumUp is a global fintech company providing small businesses with accessible and affordable payment solutions.
Driven by a mission to empower entrepreneurs, SumUp was founded by a passionate team committed to helping small business owners thrive. Today, it serves over 4 million businesses worldwide, simplifying their payment processes.
In its latest funding round, the company raised €1.5 billion in an oversubscribed investment led by Goldman Sachs, with support from private credit lenders.
Wayve
Amount raised in 2024: $1.05B
Wayve is an AI-powered autonomous driving company dedicated to advancing self-driving technology through machine learning and computer vision.
Utilizing state-of-the-art deep learning algorithms, Wayve aims to develop a scalable, safe, and adaptable approach to autonomous driving. The company focuses on data-driven systems and cloud-based models to navigate complex urban environments, striving to revolutionize transportation by enhancing road safety and efficiency.
Wayve secured $1.05 billion in a Series C funding round led by SoftBank Group, with participation from Nvidia and Microsoft, at a valuation exceeding $1 billion.
The company also partnered with Uber to integrate its software into Uber's taxi network, with Uber making a strategic investment as part of the Series C extension.
Abound
Amount raised in 2024: £800M
Abound is dedicated to transforming global credit decisions by making loans more accessible and affordable, promoting financial inclusion.
Its AI-powered platform, Render, analyzes bank transaction data to assess individual financial situations and determine realistic monthly repayments. Unlike traditional credit checks that rely on averages, Render offers a personalized approach, reducing defaults by 75% compared to industry standards.
In 2024, Abound raised £800 million to expand its mission of providing fair and inclusive credit solutions.
Zenobe Energy
Amount raised in 2024: €655M
Zenobe develops and manages battery solutions to store renewable energy, support grid stability, and power electric vehicles, with a strong focus on repurposing batteries at the end of their lifecycle.
Working closely with clients, the company helps reduce emissions, deliver reliable clean energy, and drive innovation in battery technology.
In 2024, Zenobe raised over €655 million to accelerate electric bus adoption in the UK and strengthen Scotland’s position as a leader in renewable energy.
Monzo
Amount raised in 2024: £500M
Monzo is a UK-based digital bank offering a seamless banking experience through its intuitive mobile app. Founded in 2015, it provides personal and business accounts, budgeting tools, savings features, and international payment options.
With real-time financial management, spending insights, and goal-setting capabilities, Monzo empowers users to take control of their money. Renowned for its customer-centric approach, it has emerged as a leading challenger bank in the UK.
In 2024, Monzo secured £500 million in funding to support its continued growth and innovation.
Iwoca
Amount raised in 2024: £470M
Iwoca offers financial solutions tailored to small and medium-sized enterprises (SMEs).
The company simplifies traditional lending by providing fast, flexible, and customized funding that focuses on opportunities instead of obstacles. With innovative partner integrations and a powerful Lending API, Iwoca ensures businesses can access financing whenever and wherever they need it. Its award-winning credit risk engine delivers fast, accurate funding decisions based on actual business performance.
In May, Iwoca secured £270 million in debt funding to support SME lending. A few months later, the company secured an additional £200 million to further expand its reach and support more businesses.
Bicycle Therapeutics
Amount raised in 2024: $555M
Bicycle Therapeutics is a clinical-stage biopharmaceutical company pioneering a new class of therapeutics based on bicyclic peptides.
These fully synthetic molecules feature small-molecule scaffolds that enhance structural stability and enable strong target binding. This innovative approach positions Bicycle Therapeutics at the forefront of developing treatments for cancer and other serious diseases.
In 2024, the company secured $555 million through a private equity placement to further advance its pipeline.
Wildstone
Amount raised in 2024: £350M
Wildstone is a leading European owner and operator of outdoor media infrastructure, specializing in both digital and traditional roadside advertising assets.
With over 14 years of experience, the company is driving the digital transformation of the outdoor media sector, delivering high-quality and innovative advertising solutions. Its focus on advanced technology and strategic site acquisitions positions Wildstone at the forefront of the industry.
In 2024, Wildstone secured £350 million in infrastructure refinancing from Deutsche Bank to further expand its out-of-home advertising presence across the UK and Europe.
Highview Power
Amount raised in 2024: £300M
Highview Power is a UK-based company specializing in long-duration energy storage solutions.
Their proprietary Liquid Air Energy Storage (LAES) technology stores excess renewable energy by cooling air to a liquid state and converting it back to electricity when needed, enhancing grid stability and supporting the transition to 24/7 clean energy.
In June 2024, Highview Power secured £300 million from the UK Infrastructure Bank and Centrica to construct the UK's first commercial-scale LAES plant in Carrington, Manchester, with a storage capacity of 300 MWh and an output of 50 MW over six hours.
Lighthouse
Amount raised in 2024: $370M
Lighthouse is a leading commercial intelligence platform for the travel and hospitality industry, providing actionable market insights, business intelligence, and pricing tools to maximize revenue growth.
Serving over 70,000 hotels worldwide, Lighthouse offers a comprehensive suite of solutions, including market intelligence, business intelligence, AI and automation tools, and data services.
In November 2024, the company secured approximately $370 million in a Series C investment led by KKR to accelerate platform innovation and growth.
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