Finance Breaking news UK continues to dominate European fintech investment last financial news
Breaking-Finance.Com - The UK fintech sector has retained its role as the top-ranking investment destination in Europe, with $4.1bn invested across a total of 408 deals in 2020.
Breaking-Finance.Com - The UK fintech sector has retained its role as the top-ranking investment destination in Europe, with $4.1bn invested across a total of 408 deals in 2020. The figures from Innovate Finance represent a YoY drop of 9%, explained away as a shift driven by the global pandemic. Globally, the UK ranks second only to the US in total capital raised.Charlotte Crosswell, CEO of Innovate Finance, comments: “The pandemic has created new barriers for many companies seeking funding, so it is all the more vital that we support our innovative companies to fuel their future success and growth. The upcoming FinTech Strategic Review is a key step on that path that will help to ensure long-term, sustained investment.”Overall, global fintech investment for 2020 reached $44 billion across 3,052 deals. Total investment increased by 14%. The US attracted investment of $22 billion, up 29%, while Indonesia ranked third with $3.3 billion and India fourth with $2.6 billion.
.3 billion, and with more deals and capital invested than Germany, Sweden, France, Switzerland and the Netherlands combined.Within Europe, Germany was second with $1.4bn of investment across 71 deals, up 50%. Sweden ranked third with $1.3bn of capital raised, with France ($522m) and Switzerland ($294m) closing out the top five.Among global deals, the top three fintech investment rounds were secured by Gojek in Indonesia ($3bn; payments and ride-hailing platform), and Stripe ($850m; payments) and Chime ($700m; challenger bank) in the US.The largest investments in Europe were secured by payments company Klarna in Sweden ($650m), and challenger banks Revolut in the UK ($580m) and N26 in Germany ($570m).London-based firms attracted 91% of capital invested in UK fintech, receiving $3.8 billion across 310 deals. Among these, Revolut led the way with the largest UK deal ($580m), followed by Molo ($343m), and Monzo ($166m).Investment backing for female founders in UK fintech grew to $720m in 2020, accounting for 17% of total investment - an increase from 11% of the total in 2019.
Source = Breaking-Finance.ComFinancial breaking news