top of page

Top 10 Private Fintech companies by revenues and profitability- Why scale matters

With the recent Annual Report 2023 of Monzo and Starling Bank and the financials 2023 disclosed in recent interviews by Revolut management, I started to prepare the 2024 edition of the UK Fintech Top 50 Private Companies Report.


The picture emerging is the increasing dominance of Monzo, Revolut and Starling in the sector, with the 3 players representing around 50% of the total revenues of the sector (total revenues of the top 50 companies: £5.9bn).


The top 10 fintech companies by revenues are also enjoying a strong profitability, with an average EBITDA margin of 17%, and OakNorth being the best practice with an impressive 64% EBITDA Margin.


The increase in profitability is related to the scale reached by the big players, with an average revenues growth rate 2023 vs 2022 of 51% (Monzo and Ebury best practice with a growth rate of 113% and 84%).


Initial preview of the performance of top 10 players attached, with the full report coming soon.

Slide Top 10 revenues
Download PDF • 61KB


bottom of page