Dozens Named as One of the Top 25 Startups in the UK
New fintech startup, Dozens, places in top 25 UK startups
Dozens, a new fintech startup challenger bank, ranked 25th in the Startups.co.uk’s Startups 100 list for 2019. This is an impressive result for a brand that only launched fully in January 2019 and won’t have its banking licence until 2020. We look at what this news means for the challenger brand and what other names were on the list.
What is Dozens?
Dozens, headed up by former HSBC wealth manager Aritra Chakravarty, was previously known as Project Imagine. The company defines itself as a, ‘second-generation digital bank’ with the aim of ‘changing the fundamental model of banking.’
Rather than trying to sell overdrafts to make money, they’re helping customers invest, save, and grow their money.
There are a few things that make the company unique. Perhaps the most notable feature of their business model is that they give a greater share of their returns to their customers. Rather than trying to sell overdrafts to make money, they’re helping customers invest, save, and grow their money.
Dozens has many of the features we’ve seen from brands like Nutmeg and Monzo. It’s an app-based experience that uses a Mastercard.
A Top 25 Startup
The news of Dozens’ inclusion on the Startups 100 list should come as no surprise. The enterprising company is clearly looking to make an impact on the banking industry. They were ranked number 25 across all sectors in the list, and amongst fintechs, they were number 6. This is a hugely impressive result, particularly considering the brand is one of the youngest on the list of 100.
In their review, Startups claimed that Dozens is a ‘gamechanger’, citing the innovation, leadership, and diversity of the team (which is 65% women-led) as some of the main reasons that Dozens features on the list.
On their blog announcing the news, the Dozens staff admitted they were, ‘all walking around the office pretty stunned, but equally beaming that our hard work has been recognised.’
A Prestigious List
There were some fairly huge names that topped Startups.co.uk’s list. Fintech startup Revolut came in at number one, with Igloo and Trouva taking spots two and three respectively. Past winners of the list, which has now been running for 11 years, include Deliveroo, Zoopla and Monzo.
Fintech companies are clearly in vogue right now. Four of the top ten companies on the list were based in the finance sector, with Soldo, Glenhawk, and Zegro all joining Revolut at the top of the pile. It’s an area that is changing rapidly, and disruptive brands are making waves across personal and business finance.
Dozens will be immensely pleased with their progress, and it’s a brand that we expect to see a lot from in the coming years. We’re also looking forward to seeing next year’s list and the names that will impress over the coming months.