The UK’s fintech scene saw a record year for investment in 2021, exceeding $11.6 billion – a 217% increase from 2020.
Industry body says fintech sector is reaching new levels of maturity
But despite the sector recovering from the pandemic, which saw investment figures stagnate last year, the report warns the UK is still lacking growth capital.
The data was collected and released by Innovate Finance, the industry body representing the UK fintech industry.
The report outlines how the majority of funds backing UK companies went into early or late stage rounds, with a smaller share of funding at the growth stage level. This is roughly commensurate with the rest of the world, however, with the majority (61%) of all global capital invested in later stage growth funding.
The UK was second only to the US for fintech investment. The world’s biggest economy saw $46 billion in fintech capital last year. India ($6.3 billion), Germany ($4.4 billion) and Brazil ($3.8 billion) rounded out the top five.
The data shows that the UK is far and away the most attractive option for…
