Despite fintechs facing a funding freeze and lower revenues, the UK's golden sector is likely to see fewer redundancies than most startups as a result of coronavirus, a new report by research company Beauhurst has found.
The current impact of coronavirus on fintech companies. Beauhurst labels a company in the 'moderate-impact' category if it "has suffered disruption beyond mere inconvenience but is mostly able to continue operations".
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The metrics Beauhurst used to assess the impact on fintechs. Just 3% of fintechs reported an issue with "limiting physical services"; meanwhile, it was the single biggest issue for the majority of the other 28,000 companies. Instead, 'loss of key customer group' was the single biggest negative for fintechs.