VC investment into the UK’s technology and FinTech sector has reached a record high with London-based firms bagging 75% of the $2.2 billion raised since the beginning of this year.
Data from London & Partners, the Mayor of London’s investment company, also shows
VC investment in UK FinTech reaches record highs
that the capital’s FinTech sector continues to attract record levels of VC investment ($554 million so far this year), surpassing 2014’s total of $487 million. This quarter saw peer-to-peer lending firm MarketInvoice raise $10 million Series A funding from London VC firm Northzone, which also backed Spotify.
Altogether UK companies received more in the first nine months of 2015 than the whole of 2014 ($2.1 billion).
“In little more than five years we have seen investment in London’s tech sector increase tenfold,” confirms Eileen Burbidge, partner at Passion Capital and the Mayor of London’s tech ambassador for the city.
“Even more importantly, we are now starting to see more later-stage investments which support the scaling of more London tech businesses. Today’s figures and the fact that London is home to more software developers than anywhere else in the world validate the fact that London’s tech sector is maturing and is one of the world’s leading tech hubs.”
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