Five UK scaleups join TECH5, known as the 'Champions League of Tech'.

      Five exceptional scaleups from the UK have secured their places in TECH5 — the “Champions League of Technology.”

      These selections wrap up the regional rounds for the UK and Ireland, which will now seek to identify the top scaleup in Europe.

      Both Ireland and the UK presented a wealth of contenders, each nation showcasing impressive digital achievements.

      The UK is frequently considered Europe’s foremost tech hub, characterized by a vibrant ecosystem of startups, a robust investment scene, and a highly skilled talent pool.

      In the previous year, the UK maintained its status as the leading destination in Europe for tech investments, amassing €17.5bn. London is the focal point of this sector, creating a “golden triangle” alongside Cambridge and Oxford that drives significant innovation.

      Ireland has also seen considerable tech success, largely fueled by low corporate tax rates attracting many Silicon Valley firms to its coast.

      Additionally, a skilled workforce, ideal location within the EU, and strong governmental backing have created a nurturing environment for local tech companies. These include Dublin's unicorns like LetsGetChecked, Workhuman, and Wayflyer, along with payment leader Stripe — one of the most valuable private tech companies globally.

      However, this year's TECH5 finalists are all UK-based, with London being home to all but one.

      TNW’s judges evaluated the top five based on their growth, impact, and future potential. In no specific order, let’s get to know them.

      Allica Bank

      Since its inception in 2020, Allica Bank has experienced a remarkable ascent. Last year, it was recognized by the Sunday Times as the fastest-growing business in Britain, and it topped Sifted’s list of European startups with the highest percentage revenue growth.

      UK Chancellor Rachel Reeves has recently regarded Allica as a standout in the British fintech landscape. Ravneet Shah, the scaleup’s CTO, credits their success to a unique approach to business banking.

      “Our aim is to empower established businesses with technology that is user-friendly, scalable, and specifically tailored to meet their daily financial requirements,” Shah told TNW.

      “We think this segment has long been overlooked by outdated systems and processes that were never designed for these businesses.

      “By customizing our services for this often-neglected segment, we hope to help them gain confidence in managing their finances, enabling them to concentrate on growth, innovation, and sustained success.”

      PolyAI

      PolyAI is on a mission to craft the most realistic AI voice agents globally. Created for call centres, these agents handle customer service inquiries for firms like Volkswagen, Marriott, and MetroBank.

      PolyAI claims that clients can expect personalized voice assistants in six weeks or less, offering engaging interactions that mimic talking to a real person.

      CEO Nikola Mrkšić, who previously worked on Apple’s Siri, co-founded PolyAI in 2017 alongside fellow machine learning researchers from the University of Cambridge. Last year, they completed a $50mn (€38mn) funding round, achieving a valuation close to $500mn (€380mn).

      “We want to make people appreciate voice assistants because [calling] remains the primary way consumers interact with businesses,” Mrkšić informed the FT. “It has remained relevant even amidst a broader digital transformation.”

      Mrkšić anticipates significant growth, predicting that up to 75% of customer interactions could be automated using AI.

      Artios Pharma

      Artios Pharma is at the forefront of a rapidly evolving approach to cancer treatment. The company focuses on developing drugs that target the DNA damage response (DDR), a mechanism cancer cells use to repair genetic damage and resist treatment.

      By attacking tumors via DDR, Artios aims to eliminate cancer cells while preserving healthy ones. This method has shown great promise in tests, with the company recently announcing that its lead drug reduced a subset of tumors in an early-stage trial.

      Investors are paying attention, as Artios has raised over €261 million to date, according to Bounce Watch data.

      The only company in the region outside London, Artios is based in Cambridge.

      Founded in 2016, the company is led by CEO Niall Martin, PhD, and CSO Graeme Smith, PhD, both of whom played roles in the creation of AstraZeneca’s Lynparza, a major DDR drug recognized as a groundbreaking cancer treatment.

      Zilch

      Zilch has pioneered a new method for Buy Now Pay Later (BNPL) transactions. The payments are interest-free and supported by advertising, with incentives for purchases and no late fees.

      The company guarantees responsible lending, only providing credit that customers can afford. To promote responsible spending, Zilch equips its users with tools to help them track their purchases.

      Established in 2018, the London-based company has rapidly emerged as one of Europe’s foremost scaleups.

      In 2021, Zilch became one of the fastest companies in