UK is fintech world leader with £4.5bn investment in three years
The UK is now leading the world in fintech with high-growth businesses receiving over £4.5 billion investment between 2015 and 2018, reports Jane Connolly.
News that the UK is the top global hub for fintech came in the Tech Nation Report 2019, which also revealed that the UK is fourth in the world for overall scaleup investment, behind the US, China and India.
Fintech scaleups received almost double the investment of the next most popular UK tech sectors: e-commerce, gaming and Software-as-a-Service (SaaS).
“As global connections become ever more important for the health of our tech economy, there is a responsibility for us to understand how we can best engage with global collaborators, investors and partners,” says Eileen Burbridge, chair of Tech Nation.
“The UK is a shining light and a nation punching well above its weight in the world, so we need to keep these connections close to mind on the scaling journey of our ambitious, high growth companies.”
The report mentioned that deal size disparity is growing. The top tech deal to occur in the UK during that three-year period was the acquisition of London online payments company Skrill by Paysafe Group for £785 million in 2015.