About Fuel Ventures
Fuel Ventures is a venture capital firm founded in 2014. It is primarily based out of London, United Kingdom. As of Apr 2026, Fuel Ventures is an active investor, having invested in 209 companies, with 20 new investments in the last 12 months. It primarily invests in Seed round in United Kingdom based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Consumer and Retail. Most recently it participated in the $***** Seed round of MISTI AI Overall, Fuel Ventures portfolio has seen 3 unicorns, 1 IPO and 13 acquisitions including key companies like Lunar, Curve and Maven. A lot of funds co-invest with Fuel Ventures, with names like Plug and Play Tech Center sharing a substantial percentage of its portfolio. Fuel Ventures has team of 35 people including 8 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 4 more
Portfolio IPOs
Portfolio Acquisitions
Fuel Ventures' List of Top Investments
Fuel Ventures has a portfolio of 209 companies, including 3 unicorns. Their most notable investments are in Karavel and Homemove.Their portfolio spans across United Kingdom, United States, Germany and 8 more locations. They have invested in Enterprise Applications, Consumer, Retail and 31 other sectors, across stages such as Seed, Series A and 4 more. Here is the list of top investments by Fuel Ventures:1. Lunar
Digital banking platform offering personal and business accounts, cards, savings, investing, and budgeting tools. It offers multiple account tiers, including free and premium plans, with features such as digital and physical debit cards, budgeting tools, automatic savings, and real-time spending insights. Users can also benefit from international payment capabilities, travel-friendly card usage, and competitive exchange rates depending on their plan. It integrates investing in stocks, ETFs, and crypto through dedicated modules, enabling users to build and manage portfolios within the same ecosystem.
Key facts about Lunar
2. Curve
Provider of digital wallet software consolidating multiple payment card accounts. This application allows users to link various financial cards into a single interface for transaction management. The software enables users to switch payment sources for past transactions and provides tools for managing foreign currency exchanges. Additional features include automated card switching for declined transactions and installment payment options for specific purchases. The system integrates with mobile devices and wearable technology to facilitate contactless payments at retail locations.
Key facts about Curve
- Founded Year: 2015
- Location: London (United Kingdom)
- Annual Revenue: £39.4M as on Dec 31, 2023
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $323M
- Employee Count: 268 as on Apr 30, 2026
- Investors: ATW Partners, Isomer Capital and 105 Others
- Latest Funding Round: Series C, Mar 14, 2025, $*****
- Highlight: Acquired
3. Maven
Virtual care for women and families across every life stage. The company delivers comprehensive, evidence-based healthcare through a pioneering virtual care model. It focuses on improving outcomes and lowering costs by offering expert care across various life stages, including fertility, maternity, parenting, and menopause. The platform provides access to on-demand virtual specialists, aligned benefit management, and culturally competent care on a global scale. It supports members with personalized content, dedicated care advocates, and proactive care management. The company partners with employers, health plans, and consultants to build healthier workforces and improve healthcare access. It offers programs like Maven Wallet and Maven Milk, and emphasizes diversity, equity, and inclusion. The company uses data-driven insights and research to advance women's and family health. It is a B2B and B2C company offering SaaS and software solutions.
Key facts about Maven
- Founded Year: 2014
- Location: New York City (United States)
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $425M
- Employee Count: 1,170 as on Apr 30, 2026
- Investors: Harmony Partners, Icon Ventures and 56 Others
- Latest Funding Round: Series F, Oct 08, 2024, $*****
- Highlight: Editors' Pick
4. CookUnity
Chef-crafted meal delivery service connecting chefs with food lovers. It is a meal delivery service that partners with chefs to provide restaurant-quality meals delivered directly to consumers. The platform empowers chefs, offering them a way to reach a broader audience and build their culinary businesses. The service provides a diverse menu with various cuisines and dietary options, emphasizing high-quality ingredients and culinary artistry. It offers flexible subscription plans, allowing customers to choose the number of meals per week and easily skip, pause, or cancel deliveries. The company focuses on sustainability, responsible sourcing, and chef support, aiming to create a positive impact on the food industry. It also offers business subscription programs, bringing chef-made meals to organizations. The website offers options to order now, login, explore the menu, and view FAQs.
Key facts about CookUnity
- Founded Year: 2014
- Location: New York City (United States)
- Stage: Series C
- Total Funding till date: $93.3M
- Employee Count: 872 as on Apr 30, 2026
- Investors: General Catalyst, Insight Partners and 25 Others
- Latest Funding Round: Grant (prize money), Nov 24, 2025, $*****
- Highlight: Editors' Pick
5. Paddle
Provider of merchant of record services for digital product businesses. This entity manages payment processing, tax compliance, and billing operations for software and mobile application developers. The platform facilitates localized checkout experiences, subscription management, and automated invoicing. It also provides tools for fraud prevention and revenue analytics to assist in the administration of digital sales.
Key facts about Paddle
- Founded Year: 2012
- Location: London (United Kingdom)
- Annual Revenue: £67.3M as on Dec 31, 2024
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $293M
- Employee Count: 401 as on Apr 30, 2026
- Investors: Canadian Imperial Bank of Commerce, BGF and 24 Others
- Latest Funding Round: Conventional Debt, Jul 17, 2025, $*****
- Highlight: Editors' Pick
Fuel Ventures' Year-on-Year Investment Trends
Fuel Ventures has invested in 209 companies over the last 12 years, with an average of 14 new investments annually in the last 10 years. In 2025, it made 34 investments, while as of Apr 2026, it has made 12 investments in this year. Its most recent first time investment was in MISTI AI and most recent follow-on round was in Levellr.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 11 | 1 | 12 |
2025 | 27 | 7 | 34 |
2024 | 12 | 4 | 16 |
2023 | 21 | 6 | 27 |
2022 | 23 | 5 | 28 |
2021 | 20 | 7 | 27 |
2020 | 10 | 3 | 13 |
2019 | 4 | 3 | 7 |
2018 | 8 | 1 | 9 |
2017 | 2 | 2 | 4 |
Fuel Ventures' Investments by Stage
Fuel Ventures has made 125 investments in Seed stage with an average round size of $1.69M, 12 investments in Series A stage with an average round size of $8.62M and 2 investments in Series B stage with an average round size of $47M.Stage of entry | No. of Investments |
|---|---|
Seed | 125 |
Series A | 12 |
Series B | 2 |
Series C | 2 |
Conventional Debt | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
Fuel Ventures' Investments by Sector
Fuel Ventures has a diverse portfolio, with companies operating in the Enterprise Applications, Consumer, FinTech, Vertical SaaS and Retail. Notably, it has invested in 180 Tech companies, 140 Enterprise (B2B) companies, 127 Software companies and at least 80 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 85 |
Consumer | 36 |
FinTech | 31 |
Vertical SaaS | 22 |
Retail | 13 |
Others | 108 |
Note: We have considered here, only first round of investments
Fuel Ventures' Investments by Geography
Fuel Ventures has made most investments in United Kingdom (125), followed by United States where it has made 6 investments.Country | No. of Investments |
|---|---|
United Kingdom | 125 |
United States | 6 |
Germany | 2 |
Ireland | 2 |
Canada | 1 |
Others | 6 |
Note: We have considered here, only first round of investments
Fuel Ventures' recent investments
Fuel Ventures has made 12 investments in 2026 so far. MISTI AI and Loc.ai are the latest among them.Here are the most recent investments by Fuel Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 29, 2026 | United Kingdom | Seed | 7432 | - | |
Apr 22, 2026 | United Kingdom | Seed | 7108 | - | |
Apr 08, 2026 | United Kingdom | Seed | 3772 | ||
Mar 27, 2026 | United Kingdom | Seed | 4678 | - | |
Mar 27, 2026 | United Kingdom | Seed | 3061 | - |
Unicorns in Fuel Ventures' Portfolio
Fuel Ventures has 3 unicorns in its portfolio - Paddle, Maven and Lunar. The most recent unicorn in their portfolio is Paddle. It became a unicorn in 2022, 4 years before Fuel Ventures first invested in it.Here is a list of unicorns in Fuel Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
67 | Provider of merchant of record services for digital product businesses | 2012 | London | Series D | trbezok | ||
72 | Virtual care for women and families across every life stage | 2014 | New York City | Series F | jwk{odi | ||
78 | Digital banking platform offering personal and business accounts, cards, savings, investing, and budgeting tools | 2015 | Aarhus | Series D | djmalju |
IPOs and Publicly Listed companies in Fuel Ventures' Portfolio
1 of Fuel Ventures' portfolio company became public - Perfocal.Here are Fuel Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
- | 2018 | Seed | 4855 |
Acquired companies in Fuel Ventures' Portfolio
13 companies from Fuel Ventures' portfolio have been acquired. The most recent acquisition was Tutor House in Feb 2026 by Alefredo Books for $*****.Here are Fuel Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 07, 2026 | May 02, 2019 | Seed | 8904 | |
Nov 14, 2025 | Mar 14, 2025 | Series C | 9613 | |
Jul 21, 2025 | May 11, 2022 | Seed | 6989 | |
Jul 16, 2025 | - | - | 6343 | |
Mar 21, 2023 | Oct 20, 2021 | Seed | 9388 |
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Team profile of Fuel Ventures
Fuel Ventures has a team of 35 members including 8 Partners and 9 Principals located in United Kingdom and United States. Fuel Ventures' team does not sit on the board of any company as of now.Here is a list of top team members in Fuel Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | United Kingdom | |||
Partner | London | - | ||
Partner | - | - | ||
Partner | London | - | ||
Partner | London | - | ||
Partner | Chicago | - | - | |
Partner | - | - | - | |
Partner | - | - | - | |
Principal | London | - | ||
Principal | London | - | ||
Principal | London | - |
Co-investors of Fuel Ventures
Over the past 12 years, 431 investors have co-invested in Fuel Ventures's portfolio companies. This includes funds and angels.
- Invested before Fuel Ventures: Founders Factory, IDC Ventures and 117 others have invested in rounds before Fuel Ventures. There are 4 companies where Founders Factory has invested before Fuel Ventures and 2 companies where IDC Ventures has invested before Fuel Ventures.
- Top Co-investors of Fuel Ventures: 187 investors entered a company along with Fuel Ventures. These include investors like Plug and Play Tech Center (5 companies).
- Invested after Fuel Ventures: A total of 125 investors have invested in Fuel Ventures's portfolio after their investments. Top Investors include CommerzVentures (2 companies), 13books Capital (2 companies) and Ukri (2 companies).
Recent News related to Fuel Ventures
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London FinTech Startup PANTA Raises €3.4 Million To Modernise Financial IndicesStartup Rise EU•May 15, 2026•Ukri, Fuel Ventures
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UK Locai Raises £1m Pre-Seed Round Led By Fuel VenturesStartup Rise EU•Apr 23, 2026•Fuel Ventures, Locai Labs
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Arrival secures £500,000 to untangle Britain's broken utilities market for rentersBusiness Matters•Apr 15, 2026•Fuel Ventures
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JAAQ raises $17 million Series A fundingHealthcare Today•Apr 13, 2026•Meridian Health Ventures, Fuel Ventures, Bolt Angels, Guinness Ventures
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Deaku Secures £480K Pre-Seed Investment Led by Fuel VenturesThe SaaS News•Mar 27, 2026•Fuel Ventures, Deaku
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InStep AI Secures £900K Pre-Seed Investment Led by Fuel VenturesThe SaaS News•Mar 27, 2026•Instep, Fuel Ventures
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British HealthTech JAAQ closes €15 million Series A to grow enterprise partnershipsEU-Startups•Mar 23, 2026•Meridian Health Ventures, Bolt Angels, Fuel Ventures, Guinness Ventures and 1 other
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Flexzo AI Raises $12m in Series A FundingFinSMEs•Mar 20, 2026•Fuel Ventures, Octopus Ventures, Flexzo
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WealthAi raises $1m to expand UK AI wealth platformIT Brief UK•Jan 30, 2026•WealthAI, Founders Factory, Fuel Ventures
