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\t\tLondon’s dominance is clear, but growth is spread nationwide\t<\/p>\n
Over half of Britain\u2019s fastest-growing private tech firms are based in London, according to a new ranking<\/a> by The Sunday Times, despite growing concern over the UK\u2019s political and economic support of the sector.<\/p>\n The list of Britain\u2019s 100 fastest-growing tech firms shows that 57 of the 100 companies on the list are headquartered in London.<\/p>\n Together, the firms generated \u00a33.7bn in revenues, up by \u00a33bn over the past three years, and now employ 23,100 people, having created 11,600 jobs during that period.<\/p>\n The ranking highlights continued expansion across fintech, energy, AI, health technology and digital infrastructure, despite higher interest rates and tighter funding conditions affecting the wider technology sector.<\/p>\n Abound topped the growth list with 490 per cent annual growth, generating \u00a366.8m by using AI and bank data to disrupt traditional credit scoring.<\/p>\n Meanwhile, Fuse Energy followed closely in second place with 484 per cent growth and \u00a3129.7m in revenue, operating as a vertically integrated renewable energy supplier.<\/p>\n Nearly 70 per cent of the firms trade internationally, while 58 per cent were founded in 2016 or later, reflecting the relatively young profile of many high-growth firms.<\/p>\n Policy concerns<\/p>\n The publication comes as senior figures in the global tech industry question the visibility and consistency of UK government support for startups on the international stage.<\/p>\n Speaking last week, Gary Shapiro, chief executive of the Consumer Technology Association and the organiser of CES, the world\u2019s largest tech trade show, criticised the UK\u2019s limited presence at the even, compared with European peers.<\/p>\n \u201cThe British presence has been spotty, which is surprising to me\u201d, he said, adding that France and the Netherlands were \u201creally well represented\u201d.<\/p>\n \t\t\t\t\tRead more<\/p>\n