Starling Bank and Beauty Pie lead the charge in UK's top 'women-powered' firms

Starling Bank and Beauty Pie have soared to the top of a list highlighting the UK's fastest-growing businesses spearheaded by women, while fitness star and entrepreneur Grace Beverley shines as one rising talent, according to fresh insights.

JP Morgan Private Bank's annual report chronicled a threefold rise in funds pouring into "women-powered" ventures during the last decade. Topping the chart of 200 high-flyers this year is Starling Bank, set up by Anne Boden, a beacon of Welsh entrepreneurship. The digital banking trailblazer has seen sales double in 2023 and embarked on a rapid hiring spree nationwide.

Anne Boden, Starling Bank's founder, stepped away from her chief executive role earlier this year, choosing instead to concentrate on her substantial stake in the company. In econd spot is skincare and makeup company, Beauty Pie, founded by Marcia Kilgore of Soap & Glory fame in 2015. The brand has since secured £126m in equity investment, figures show.

Leading the tech charge were digital firms like Quantexa, cybersecurity specialists, Panaseer, and AI language tech company, Speechmatics, all breaking into the top 10. Tropic Skincare, which is run by Susie Ma – a former contestant on The Apprentice who went on to secure investment from Lord Alan Sugar, was also a top contender, as well as Australian-inspired restaurant chain Daisy Green.

The report analysed 14,555 companies in the UK led by women, ranking the top 200 based on growth in sales and headcount. Trailblazing firms not only founded or run by women but also with at least a 50% female management team, or with the majority ownership in female hands have been spotlighted.

These companies are being recognised as high-growth entities - they've been grabbing equity investments and snagging grant funding. Fitness guru turned entrepreneur Grace Beverley, founder of Tala and Shreddy, was hailed as a "rising star" in a new report. Having begun her digital empire with fitness content at just 18, the now 27 year old powerhouse calls for more support to create networks aiding female founders and improving their access to capital.

Tropic skincare's Susie Ma voiced: "I'd like to see more female investors being championed and more women with decision-making power at investment funds."

The study also shed light on the fast-growing sector of woman-powered firms, which rocketed to nearly 30% in 2024 from around 18% in 2021. Indeed, these firms locked in upwards of £4bn of private investment in 2024, a significant rise from £781m ten years ago. Deal-making activity amongst them nearly tripled as well.

JP Morgan Private Bank's managing director Maya Prabhu remarked: "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."

In 2023, digital technology firms led the pack in terms of equity investment deals, where a company secures investment in return for a share in the business. Internet platforms, software-as-a-service, and analytics, insights and tools emerged as the top sectors attracting investment.

The data also highlighted artificial intelligence as a significant industry among businesses led by women.