VC funding is under pressure as stressors from last year are also affecting 2023, according to Pitchbook. It also reports that European VC activity has continued to decelerate, with deal value in the first quarter of this year a huge 65% lower than it was in the same period a year earlier.
Valuations also are under pressure, with down rounds more prevalent this quarter too, and with tech layoffs mounting into their hundreds of thousands since 2022, the environment can feel a little uncertain for tech workers – writes Kirstie McDermott, Senior Content Manager, Amply.
Fintech too, has had its fair share of body blows. While funding dropped 8% in 2022, the UK sector is still in good health, and remains ahead of rival hubs in Europe and Asia, according to industry body Innovate Finance. London’s firms attracted $10.2bn of investment funds last year, only a 5% drop from 2021’s figure.
The UK’s fintech industry continues to succeed thanks to a combination of many factors, including London’s existing standing as a centre of financial excellence, globally-respected regulatory frameworks, plus good education options and infrastructure.
According to Deloitte, the UK’s particular strengths include wealthtech (including PFM and cryptocurrencies) and payment technology, which account for more than 50% of all firms.
Consider the cloud
For those looking for career opportunities in fintech, cloud computing is one area that is well worth considering. It has experienced exponential growth in recent years as more and more businesses and organisations transition to cloud-based solutions, meaning the demand for skilled professionals in this field is on the rise.
In fintech, cloud services can be used in any number of ways, including scalability and flexibility; to provide cost efficiencies, in that fintechs can leverage cloud services as opposed to shelling out for substantial upfront infrastructure or software costs; and for big data analysis as well as information security.
As a result, it’s not a surprise that companies are seeking talent. A recent Women in Tech report found that 94% of all business enterprises use some aspect of cloud services, and that cloud engineer is the eighth most in-demand role for 2023.
From cloud architects and engineers to cloud consultants, data analysts and cybersecurity specialists, as well as DevOps professionals and those working in machine learning and AI, there is a diverse range of roles available for professionals with different skill sets and expertise.
According to figures from Gartner, worldwide end-user spending on public cloud services is forecast to reach nearly £489 billion this year. That figure translates to jobs, and one of the best places to look for a new opportunity is the Payments Cards & Mobile Job Board. It contains thousands of open roles all across the UK, like the three below.
If you’d like to bring hybrid-cloud technical expertise to deliver transformative solutions for clients’ business problems, this Cloud Solution Architect role at IBM in London may appeal.
You’ll work on development using the cloud (AWS, Azure, IBM Cloud), container platforms, and migration/modernisation of existing applications. You will define the technical scope and vision for projects to deliver customised solutions across cloud and on-premises, and you’ll be a technical leader, serving as liaison among business partners, technical teams and project stakeholders. Find out more here.
A strong background in security architecture, security design and defining security frameworks is required for a role as a Cloud Security Architect at Accenture in London. You will design, implement and provide integration expertise to clients’ for their journey to the cloud.
You’ll have a strong understanding of network security, system/application security and data security plus hands-on experience in cloud (AWS/GCP/Microsoft Azure) security architecture, security engineering, or equivalent experience with vendor specific cloud certification. Interested? Get all the requirements here.
At Citi, a Public Cloud Developer – SVP (Hybrid) job is on offer. You will be instrumental in implementing infrastructure automation services to enable the foundational cloud network infrastructure required for application hosting in the public cloud.
To be considered, you should have experience in professional software development, designing and creating highly available cloud systems, and have the ability to implement cloud strategy. Advanced industry knowledge is key, as well as knowledge in building an engineering organisation.
This role requires a talented technologist with experience engaging with application developers throughout the full development life-cycle––from inception and design to deployment, operation, and iterative development. Want more info? Get that here.