Investments made in fintech firms here in the United Kingdom soared in 2021 as investors sought to capitalise on a new regulation for the sector, according to recent research undertaken by the UK industry body Innovate Finance.
According to figures, the total investment into UK fintech companies leapt by over 217 per cent to $11.6 billion last year, placing Britain second only to American fintechs globally, which enjoyed $46 billion worth of investment.
The British fintech sector entirely outpaced the whole of Europe, dominating the continent regarding capital invested. In total, a sum of $24.3 billion was invested throughout Europe, with Britain attracting close to half of all investment.
In a statement, Minister for Investment Lord Grimstone commented:
“Thanks to our welcoming business environment and our world-class fintech ecosystem, we more than doubled 2020’s fintech inward investment figures, with more than 10% of deals worldwide landing on UK soil.”
From private individuals to companies, those interested in emerging markets and seeking investment advice in Chester, London and other major UK cities often look to expert wealth managers for guidance. Taking a holistic approach to managing their client’s finances and investments, they are able to offer a wide range of support and well-balanced portfolios.
The spike in funding is set to provide a much-needed boost to the industry as ministers and regulators implement a wealth of brand-new measures that were recommended in the 2021 Kalifa Review and Lord Hill’s UK listings review designed to fortify Britain’s position as a new hub for the fintech sector beyond Brexit.
