Virgin Media Business has teamed up with Fast Track to identify the 10 most disruptive businesses in the UK.
To celebrate the 20th anniversary edition of the Fast Track 100, Virgin Media Business has recognised 10 companies for having a business model, product or service that is creating a new market, or transforming existing markets and rapidly taking market share from competitors.
Currency transfer firm TransferWise is among those in the top 10. It relies on its network of fans on social media to help it gain traction in new markets and now sends money from over 55 countries – it is valued at more than £1 billion.
Also making the list are PureGym, which has attracted more than 800,000 customers to its contract-free, low price-point gyms since 2008, Crowdcube which has helped raise more than 10 per cent of the UK’s public equity funds this year, and online finance platform LendInvest, which already has a 10 per cent share of its short-term mortgage lending market since launching in 2013.
The list in full is as follows:
“These disruptors are re-writing the business rule book. Many of our 10 have gained an edge over larger companies by using the crowd to attract customers, develop new products or secure funding, and primarily rely on social media and word-of-mouth recommendations to help them gain traction in new markets,” Peter Kelly, MD at Virgin Media Business, said.
“At the core of the disruptive forces in all these businesses are digital innovation and technology platforms. The success of these disruptors shows how digital has progressed in just one generation and is the now the backbone of successful companies who are taking market share away from companies who are less digitally focussed.”