George Robson, Partner at Sequoia, spoke at the Innovate Finance Global Summit – the flagship event of UK FinTech Week – where he discussed the strengths of the UK FinTech sector and predictions for the sector in 2022.
His key points included:
- The strengths of the FinTech sector in the UK: “In the UK there are many institutions and global leaders in their respective sectors which has a couple of advantages – one is an incredible talent pool that exists locally, which has come from across
the globe from many different skillsets, to allow you to go out and be successful. That landscape is evolving and we've done a good job in many categories. Payments, banking etc., there's been a lot of innovation that has taken place. Insurance is relatively
nascent, but the market size is infinite. So, there's huge opportunity going forward.”
- 2022 predictions for the FinTech sector: “2021 was an incredible year of fundraising in many different markets. 2022 will probably be a big year of doing off the back of that. There is clearly a lot of opportunity that is enabled by that amount
of capital. It’s important to remember that the dust will settle around a couple of the areas, like providing real value to your end customer. It's important to really distil what you're doing and your key value proposition – whether it's a faster, cheaper,
or direct access, whatever it might be.”