UK fintech and London lead the way for investment, finds Innovate Finance (1)

UK fintech and London lead the way for investment

With Sibos 2019 taking place this week, Innovate Finance, in partnership with London & Partners, has released a report that shows just how attractive UK fintech is right now.

London has overtaken New York for fintech investment deals, according to the new research based on Pitchbook data. A Fine Year for FinTech: Global Trends from a UK Perspective explores the fintech venture capital-led investment trends so far in 2019, comparing countries and cities around the world, in terms of deal value, deal count and sources of investment.

While London has long been established as a thriving, well-connected financial ecosystem, 2019 has seen record levels of investment in the UK.

In the first eight months of the year alone, more than $2 billion has been invested in London-based businesses across 114 deals, surpassing totals seen in any previous year.

Among fintech investment deals on a global level, London has taken top spot in 2019, with a total of 114 deals, overtaking New York in second place (101). San Francisco is in third place (80), with Beijing (24) and Singapore (23) competing for fourth and fifth.

An analysis into the top 10 cities for number of fintech deals in 2019 shows that London has the most international investors, with 54% of total venture capital investment involving an investor from outside the UK.

The UK capital attracts a wider international variety of investors than other European hubs, with 39% of investors coming from outside Europe, compared to 32% in Berlin and Paris with 24%.

Charlotte Crosswell, chief executive officer of Innovate Finance and a member of the UK FinTech Awards 2020 judging panel, said: “The UK is the clear global leader in the fintech sector, spearheaded by London’s success and long-standing position as a major leading financial centre.”

“It’s no surprise London and the whole of the UK fintech sector is experiencing record growth—we are home to world-class talent and our historical pedigree enables access to key global markets. With record investment under our belt, this is the time to boost the sector further and secure future growth.”

The UK FinTech Awards is seeking entries from fintech firms across the length and breadth of the UK, to demonstrate not only London’s innovation in financial services, but everywhere else’s, too.

Visit our categories page to find out how you can enter and take the opportunity to celebrate the huge attraction and potential of the UK’s fintech scene.

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