\Fintech News/ Brexit schmexit: UK saw record fintech investment last year, trumping China and India On the eve of Brexit-day, UK fintechs are prepped for battle after a record year of investment, making up over 50% of European capital flows in the space. By Isabel Woodford 30 January 2020 Credit: London Credit: London \Fintech Exclusive: Mastercard ex-chief plans to invest $100m+ fund into Europe's payment startups By Isabel Woodford 25 February 2021 \Fintech News/ Brexit schmexit: UK saw record fintech investment last year, trumping China and India On the eve of Brexit-day, UK fintechs are prepped for battle after a record year of investment, making up over 50% of European capital flows in the space. By Isabel Woodford 30 January 2020 The UK has set a new record for investment into financial technology startups, drawing in over $4.9bn last year and putting it at the top of the European leaderboard in spite of uncertainty over the UK leaving the European Union on Friday. Overall, European fintechs raised $8.5bn, meaning the UK contributed to over half of all the continent’s investment in the space, according to new research by Innovate Finance. Indeed, seven of the 10 biggest European fintech raises last year were by British companies. That puts the UK in second place for investment globally behind the US (which raised $16.3bn in 2019) and ahead of India and China, which saw a 93% decrease in funding since 2018. The UK meanwhile saw a 38% boost in fintech investments since last year. Its closest European peer was Germany, which raked in $1.3bn, followed by Sweden with $778m. The global scene Nonetheless, fintech investment in Europe slowed in the second half of 2019. European fintechs brought in $3.4bn in last six months of the year versus the $5.1bn in the first six months. As a continent, Europe also still lags behind North America. The US and Canada made up 49% of the total $35.7bn invested globally in fintech last year, while Europe made up 24% of that figure. Sources: Dealroom and Innovate Finance 2020 is also set to be another big year of funding for Europe, with UK digital banks Monzo and Revolut both rumoured to be raising large rounds to the tune of £100m. Moreover, while fintech has been Europe’s standout sector by way of venture capital funding, overall funding for startups on the continent was at its highest ever in 2019 too. Want the best of Sifted in your inbox? Our newsletter brings you the latest, greatest stories on startup Europe. Sign up Terms of Use Related Articles Dutch payments unicorn Mollie bags new CEO By Ryan Weeks Click here to read more Klarna becomes Europe’s most valuable startup, now worth $31bn By Freya Pratty Click here to read more Exclusive: Mastercard ex-chief plans to invest $100m+ fund into Europe’s payment startups By Isabel Woodford Click here to read more Member Inside Taavet Hinrikus’s vast angel portfolio By Isabel Woodford Click here to read more Get the best of Sifted in your inbox By entering your email you agree to Sifted’s Terms of Use Sign up to \Future Proof Sifted’s weekly \Corporate Innovation roundup email By entering your email you agree to Sifted’s Terms of Use Most Read 1 Member \Deeptech 21 European SaaS startups set to boom in 2021, predicted by VCs 2 \Startup Life Founders, stop chasing after the limelight — just build your damn product 3 Member \Fintech Inside Taavet Hinrikus’s vast angel portfolio 4 \Public & Academic What to expect from Spain’s Startup Law, with Francisco Polo 5 \Sustainability How are Europe’s startups capturing carbon? Join the conversation Subscribe Notify of new follow-up comments new replies to my comments
Klarna becomes Europe’s most valuable startup, now worth $31bn By Freya Pratty Click here to read more
Exclusive: Mastercard ex-chief plans to invest $100m+ fund into Europe’s payment startups By Isabel Woodford Click here to read more