Luno won the 2018 Tech5 competition which identifies the fastest-growing technology company in the UK.

The digital currency firm was honoured at an awards dinner at Adyen’s UK headquarters after it was revealed that it is the UK tech firm with the highest revenue growth.

Tech5 is an annual start-up competition organised by TNW and Adyen. The dinner, which also recognised the remaining top 10 growing tech firms, was attended by Tech5 ambassador and SeedCamp founder Reshma Sohoni.

“It is a real honour for us to be in the list of UK finalists at Tech5, let alone be recognised as the winner against so many great UK start-ups. It really validates the potential of cryptocurrencies for consumers”, said Marcus Swanepoel, co-founder of Luno.

“We have worked exceptionally hard over the last few years and focused on providing the best possible service for our customers, so it is great to see that paying off.”

Luno is a global cryptocurrency wallet and exchange founded in 2013 which recently raised a $9 million Series B round to help drive global expansion.

Available in over 40 countries across Europe, Africa and Southeast Asia, Luno offers exchange services and allows consumers to buy, store and learn about cryptocurrencies such as Bitcoin and Ethereum.

Luno will now go on to compete against the national Tech5 winners from Germany, The Netherlands, Spain, France and Sweden for the title of the fastest-growing tech company in Europe – the winner being revealed at TNW Conference on May 24th.

Over the years, Tech5 has been a launchpad for companies such as Transferwise, Delivery Hero, Cabify, Foodpanda and iZettle. Tech5 alumni finalists have raised more than €10 billion in funding collectively over the last five years.

Patrick de Laive, co-founder of TNW: "It's amazing to see how many fast-growing companies have been sprouting on European soil. Aside from the ones that made the shortlists, we've seen a ton of others that had significant revenues and still continue to grow.

“As Europeans involved in technology, we should be proud of these highly successful startups. The Tech5 competition is here to celebrate those young companies and reveal them to a larger audience."

Myles Dawson, UK country manager of Adyen, said: “The UK has a long and proud history of innovation, so we are proud to be part of a thriving start-up scene here. Congratulations to the team at Luno, it is a well-deserved win.

“As a start-up, Adyen knows the trials and challenges that these businesses face so we are delighted to be able to support them in their growth and offer any advice and assistance we can in helping them achieve success. I am looking forward to seeing this year’s winners at TNW Europe and good luck to Luno in the final round.”

UK top 10 (in order of revenue growth)

  1. Luno
  2. Trouva
  3. Elder
  4. Moteefe
  5. Papier
  6. Beamery
  7. Monese
  8. Pivotal iQ
  9. Clippings.com
  10. Lendable