The Innovate Finance Summer Investment Report has found that in the first half of 2022, total capital invested in FinTech globally reached £49.4bn ($59bn) – flat year-on-year.
Investment into the UK’s FinTech sector has jumped ahead of 2021 levels this year despite recessionary fears beginning to drag on funding in the second quarter, with investment reaching £7.6bn ($9.1bn) – a 24% year-on-year increase from H1 2021. The UK remains second globally in FinTech investment, only behind the US.
It is fantastic to see that UK FinTechs are continuing to secure outstanding levels of investment – a testament to the strength of the UK ecosystem, its innovative entrepreneurs and founders, strong and diverse talent pool, and a supportive government and regulatory framework.
Janine Hirt, CEO, Innovate Finance, said
“It is critical that we now keep up this momentum. The UK is currently receiving more investment in FinTech than all of Europe, second only in the world to the US. We must continue to work together – industry, government and regulators – to build on this leadership and ensure the UK remains the best place in the world to start, build and scale a FinTech business.
“This will positively impact not only the financial services sector but the entire population of the UK as a whole who will benefit from new, innovative, and more effective products that drive greater financial wellness.”
Seven Hills secured Innovate Finance an exclusive piece in City AM to discuss the report, and how the UK can ensure it continues to lead when it comes to securing investment compared to its European counterparts. Read the full article here.