UK ranked as the world’s top fintech hub

New research has revealed that the UK is the world’s top financial technology (fintech) hub, over the past three years high-growth firms have attracted more than £4.5 billion in investment.
According to Tech Nation, the Government-backed start-up body, London continues to lead the UK in attracting high-growth tech investment.
Figures indicated that between 2015 and 2018 the capital city received £9 billion in investment, compared to the second-placed city, Cambridge which only attracted £583 million over the same period.
Meanwhile, scale-up firms in London grew by more than 56 per cent between December 2018 and February 2019, which was more than anywhere else in the world. However, the UK was only fourth in the world for scaleup investment, coming in behind the US, China and India.
Tech Nation is now inviting applications for the second cohort of its fintech growth programme. The scheme promises to give members intensive backing to help grow their businesses and the UK’s fintech ecosystem.
Last year, on average each of the inaugural cohorts raised £1.1 million, from the 20 businesses that made it through, 35 per cent were based outside of London and 40 per cent had a female founder or co-founder.
A spokesperson for Tech Nation said: “Last year the Fintech Growth programme attracted an extremely high calibre of participants, and the organisation is expecting an equally diverse, innovative and ambitious cohort to apply this year.
“The successful cohort has the opportunity to participate in nine themed insights sessions covering topics such as regulation, partnering with established financial services firms and expanding internationally. They will also have the chance to meet key stakeholders and decision makers at networking events, and the programme will culminate with a three-day international showcase trip to the US.”

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