London’s financial technology firms are set for a record year of investment in 2017, after bouncing back from a slump in venture capital (VC) funding last year.
Despite fears relating to Brexit, investors have ploughed more than £760m into British fintech companies since the start of the year, with London firms accounting for 90 per cent of all fintech investments across the UK.
London and Partners, who supplied the data, said that 2017 was likely to be a record year for investment in the capital’s fintech sector, with London becoming the fourth best city in the world for fintech venture capital investment over the past five years, behind San Francisco, Beijing and New York.
In a statement this week, Rajesh Agrawal, London’s Deputy Mayor for Business, says: “The fact that we have seen over £1 billion worth of venture capital investment into London fintech companies since the EU referendum vote offers further proof that global investors still believe London will remain a leading fintech hub for many years to come”.
Whilst he feels that London’s fintech hub “cannot be replicated anywhere else”, he does however say that Brexit poses “major challenges” for the UK, and highlights a “need for a Brexit which enables London to maintain its place at the heart of the single market, as the continent’s financial capital.”
At Beavis Morgan, our dedicated Entrepreneur Support Team works with entrepreneurial people in the fintech sector, assisting with starting up, fundraising and investment, and advising on business growth and development, whilst all the time helping you navigate the maze of often complex tax issues.
We also offer specialist services to identify business opportunities for overseas investors looking to enter the UK market – and we provide a comprehensive range of professional services to help you make the most of your investment in the UK.
Contact Steve Govey for advice on how we can assist you and your fintech business, and Paul Ashton for further information about how we can help you secure the right investment opportunity in the UK.
Further reading: Click here to read more about our services to Chinese investors starting up in the UK.