The UK has held position as the second largest destination globally for fintech investment in the first half of the year.
This is according to data from Innovate Finance, the UK’s industry body, who reported that investment had risen 24% to $9.1billion in the first half of 2022, when compared to the same period preceding.
Such growth counters to prevailing investment trends, with European investment in Fintech (ex. UK) being 2% lower than the second half of 2021.
Globally, the international Fintech sector saw investments worth $59 billion spread over 3,046 deals in H1, with the US remaining the top destination. The UK was second, followed by India, Germany, and France.
Janine Hirt, CEO, Innovate Finance commented: “It is critical that we now keep up this momentum. The UK is currently receiving more investment in FinTech than all of Europe, second only in the world to the US. We must continue to work together – industry, government and regulators – to build on this leadership and ensure the UK remains the best place in the world to start, build and scale a FinTech business. This will positively impact not only the financial services sector but the entire population of the UK as a whole who will benefit from new, innovative, and more effective products that drive greater financial wellness.”
To find out more about Fintech Investment in the UK in H1, please follow the link here.
We eagerly await results from Saudi Arabia.
