18 June 2018
Visit www.gemalto.com

UK fintech hoovered up record-breaking VC investments in 2017

07 February 2018  |  13950 views  |  0 london tower bridge

Venture capital investment in UK fintech firms more than doubled in 2017 to reach $1.8 billion, with 54% of the total coming from overseas VCs who appear largely untroubled by the UK's imminent break from the European Union.

The figures, compiled by Innovate Finance from PitchBook data, portray a healthy landscape for the UK fintech industry, with new regulations around Open Banking and GDPR oosening the purse strings of venture capital investors.

The UK attracted 224 deals in 2017, raising investment levels by 153% over the previous year when $704 million was bet on the sector. The top two UK deals, TransferWise and OakNorth, both raised rounds of over $200 million and were ranked among the top 20 global deals.

Of the total 2017 UK VC investment, 24% went into challenger banks, followed by money transfer and FX (21%), alternative lending/financing (17%) and personal finance/wealth management (11%).

The UK bucked global trends, where investment levels were depressed 18% year-on-year, reaching $14.4 billion across 1,824 deals.
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Augmentum Capital seeks public listing for £125 million fintech fund

Augmentum Capital seeks public listing for £125 million fintech fund

31 January 2018  |  6497 views  |  0 comments | 4 tweets | 3 linkedin
Fintech leads the way as investment in UK tech firms doubles in 2017

Fintech leads the way as investment in UK tech firms doubles in 2017

05 January 2018  |  20525 views  |  1 comments | 45 tweets | 36 linkedin
BofE stress tests: Banks coud be underestimating the risks from fintech

BofE stress tests: Banks coud be underestimating the risks from fintech

28 November 2017  |  10610 views  |  0 comments | 18 tweets | 27 linkedin
London fintech buoyant despite Brexit shadow

London fintech buoyant despite Brexit shadow

19 October 2017  |  11435 views  |  1 comments | 16 tweets | 8 linkedin
Fintech investment rebounds in Q2

Fintech investment rebounds in Q2

12 October 2017  |  6985 views  |  0 comments | 14 tweets | 10 linkedin
'This time is different': BofE's Hauser hails fintech revolution

'This time is different': BofE's Hauser hails fintech revolution

06 October 2017  |  13977 views  |  1 comments | 13 tweets | 11 linkedin

Related blogs

Create a blog about this story (membership required)
Visit https://secure.vasco.comVisit https://info.nice.com/Visit http://go.jumio.com/finextraAd

Who is commenting?

A Finextra member Finextra Member Commented on: BIS: Cryptocurrencies...
A Finextra member Finextra Member Commented on: BIS: Cryptocurrencies...
A Finextra member Finextra Member Commented on: Monzo launches bill tr...
A Finextra member Finextra Member Commented on: NatWest taps Open Bank...
A Finextra member Finextra Member Commented on: HSBC promises $17bn in...

Top topics

Most viewed Most shared
10,000 jobs could be lost to robots says Citi10,000 jobs could be lost to robots says C...
48610 views comments | 44 tweets | 35 linkedin
Ripple exec says DLT not ready for banks...yetRipple exec says DLT not ready for banks.....
10269 views comments | 9 tweets | 32 linkedin
UK launches £2.5bn startup initiativeUK launches £2.5bn startup initiative
9310 views comments | 30 tweets | 26 linkedin
HSBC promises $17bn investment in technologyHSBC promises $17bn investment in technolo...
8220 views comments | 8 tweets | 21 linkedin
NatWest taps Open Banking for cardless online paymentsNatWest taps Open Banking for cardless onl...
8023 views 11 comments | 12 tweets | 12 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job