Fintech investment in the UK set for record-breaking 2017, London leading the way

By Johan De Mulder

Investment into fintech in the United Kingdom has reached £825mn already in 2017, with the full-year figure set to break all records.

Tech firms have rivalled more traditional banks in recent years with their easy-to-access banking services and investment has already doubled compared to the same point in 2016. 

According to data released this week, London is leading the way with five times as much investment as any other city on the continent.

See also:


"Clearly Brexit poses major challenges, but London’s position as a global financial centre and world-class technology hub cannot be replicated anywhere else," said London’s Deputy Mayor for Business, Rajesh Agrawal.

"This highlights the need for a Brexit which enables London to maintain its place at the heart of the single market, as the continent’s financial capital."

The record annual figure was set in 2015, but that is almost certain to be broken following deals such as the $66mn worth of funding that was pumped into Revolut, the digital challenger bank.

Share

Featured Articles

Dubai debate on Future of Cloud Security in the Middle East

Survey and roundtable on The Future of Cloud Security in the Middle East to examine cloud adoption and security readiness in the region

Saudi to rival Silicon Valley with US$9bn tech investments

Saudi Arabia announces US$9bn investments in future tech amid unprecedented growth in digital economy – Microsoft, Oracle, Huawei, Zoom all big spenders

Top 10 largest revenue generating family businesses in MENAT

From the UAE to Turkey, these family firms are the largest by revenue in MENAT and cover everything from energy to entertainment

Top 10 metaverse projects in the UAE, including world firsts

Digital Strategy

PwC’s survey shows Middle East CEOs remain upbeat on growth

Leadership & Strategy

Opinion: “Why we must tackle the digital skills crisis"

Leadership & Strategy