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Fintech investment in the UK is alive and well following Brexit turmoil - UK fintech startups raised $1.8 bn last year (up more than 150% year over year), amidst an 18% drop in global funding in the sector.
The surge in UK funding contrasted with an 18 per cent drop in global fintech investments to $14.4bn, according to the report by Innovate Finance, the British fintech trade body. The UK industry was boosted by handful of large fundraisings of more than $90m. The biggest was by TransferWise, a cross-border payments provider, which raised $280m. OakNorth, a digital lender to small businesses, raised $203m. The UK overtook China to take second place worldwide, behind the US, which attracted $7bn of VC money into its fintech sector, securing top spot again. The number of VC investments in fintech fell more than a quarter to 1,824. The biggest fintech fundraising globally was the $500m raised by SoFi in the US.
https://www.ft.com/content/75a4425a-0b63-11e8-8eb7-42f857ea9f09
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