A report by industry body Innovate Finance shows that Venture Capital (VC) and private equity (PE) investment in the UK fintech sector, broke records last year, rising to $3.3 billion (£2.6 billion) in 2018.
Growth private equity investment rose 57 per cent to $1.6 billion, while venture capital dipped slightly to $1.7 billion, an indication that the UK’s startup scene is fast becoming a scale-up industry.
The UK’s fintech sector retained its position as a world leader, dominating Europe and ranking third globally in terms of VC invested behind China and the US.
London continues to be the home for fintech in the UK, with over 80 per cent of the fintech startups that took in VC headquartered in London last year, claiming over 90 per cent of the capital invested.
Beavis Morgan – Specialist business advisers to London’s tech sector
At Beavis Morgan, we work with a number of entrepreneurs and startups, helping them set up and run their businesses, whilst navigating the challenges and advising them on making the right decisions both now and for the future.
We also understand that whether you’re a start-up or a well-established business, cash is king and managing its flow is crucial to your immediate and long-term success. That’s why our independent finance brokerage, BM Structured Finance, is readily available to assist start-ups source the right funding for their individual needs.
Research & Development (R&D) tax relief has also proved to be a major boost to British business and, with Brexit looming, it is more important than ever that companies seek ways to unlock cash from innovation to help fund research and development into the ongoing enhancement of existing products and services.
Does your business undertake research and development? If so, speak to us today to set the benefits in motion. Our proven methodology offers a painless approach towards obtaining R&D tax relief.
For more information about how we can help you and your entrepreneurial business, contact Steve Govey, Partner within our Beavis Morgan Entrepreneur Support Team, Simon Belton at BM Structured Finance or your usual Beavis Morgan Partner.
