The FinTech sub-sector has come a long way over past decade. In 2010, FinTech accounted for just 4% of UK VC investment and it now accounts for 28%. It’s already a record year for both UK VC investment overall and specifically FinTech, with the former reaching £7.5bn in the first 9 months of the year and the latter reaching £2.1bn.
We have seen some chunky deals in 2019. In February, Softbank invested £339m in OakNorth, a bank that provides financing solutions to growing businesses. Then, only 11 days later, Iwoca raised £150m in its sixth VC round. In May, Checkout.com signed a deal worth £177m that put its pre-money valuation at £1.35bn. Any one of these deals is larger than every single VC penny put into every single FinTech firm in 2010.
The areas within FinTech that this money is being poured into varies. The top deals this year have supported firms that offer business loans, digital payment platforms, mobile banking, digital wealth management, international payment platforms and loyalty platforms, to name a few. There have also been some smaller PropTech, InsurTech, cryptocurrency/blockchain and artificial intelligence FinTech deals.
Our latest research explores the key drives of the FinTech VC growth and takes a look at the office journey for Fintech startups. Read our full report here.
