Starling Bank and Beauty Pie have emerged as the leading names on a new list showcasing the fastest-growing UK businesses founded by women. Fitness influencer and entrepreneur Grace Beverley has also been acknowledged as a rising star, as noted in a recent report.
The annual report from JP Morgan Private Bank indicates that investment in female-led enterprises has surged threefold over the last ten years, underscoring the increasing impact of women-led businesses in the UK.
Starling Bank founded by Anne Boden, secured the top position in this year’s list of 200 companies after increasing its sales 2 times in 2023 and expanding its workforce in the UK. Boden stepped down as CEO of Starling Bank earlier this year stating that this move would help her to focus on her role as a major shareholder.
Beauty Pie founded in 2015 by Soap & Glory creator Marcia Kilgore, Beauty Pie is a skincare and beauty retailer. It has secured second position in the list, and raised £126 million in equity investment, according to the report.
Digital technology companies stood out in the rankings, with Quantexa, a firm specializing in intelligence, cybersecurity company Panaseer, and Speechmatics, which focuses on AI speech technology, all securing spots in the top 10.
Tropic Skincare, spearheaded by Susie Ma, who gained fame as a contestant on “The Apprentice” and received backing from Lord Alan Sugar, was also featured among the top businesses, along with the Australian-inspired restaurant chain Daisy Green.
The report evaluated 14,555 UK companies led by women, ranking the top 200 based on their sales growth and expansion of headcount. It included businesses that were founded or led by women, had at least 50% female representation in their management teams, or were majority-owned by women.
These companies were recognized for their high growth, highlighting milestones like securing equity investments and obtaining grant funding.
Grace Beverley, founder of Tala and Shreddy, was named a “rising star” in the report. She began her journey by sharing fitness content online at just 18 years old. At 27, Beverley emphasized the urgent need for greater support in building networks for female founders, which would aid entrepreneurs and enhance women’s access to funding.
Tropic’s Susie Ma said, “I’d like to see more female investors being championed and more women with decision-making power at investment funds.”
The analysis revealed that the share of fast-growing companies led by women rise to nearly 30% in 2024, compared to around 18% in 2021. In that year, these firms attracted over £4 billion in private investment, a significant increase from £781 million a decade earlier, with the number of deals nearly tripling.
Managing director at JP Morgan Private Bank, Maya Prabhu said, “This surge in female entrepreneurship has transformed the UK’s scale-up scene. By increasing both the number and proportion of women-owned enterprises, we’re also taking a crucial step towards improved gender parity.”