The study by global management company Accenture, showed that over the past three years, such investment increased at more than four times the rate of overall venture-capital investment.
The UK and Ireland (UKI) is the fastest growing region in fintech investment, growing at a 74 per cent rate since 2008, compared with 27 per cent globally and 13 per cent in Silicon Valley. As a result of this rapid growth, London has emerged as the fintech capital of Europe, according to the report. “The fintech boom is a huge opportunity for London with its well-developed financial and technology industries,” said Julian Skan, Accenture managing director. “It is also crucial to London maintaining its position as the leading global financial center because of the growing importance of technology to the financial industry.” While fintech investment in UKI is growing fast, the market however is still relatively immature, said the report. Skan added: “For a relatively new sector, fintech is developing fast. There are growing number of incubators and accelerators and increasing interest among both the big banks and the venture capital community. “But there are still challenges to overcome. It is harder to raise funding, and entrepreneurs are less focused on commercialising new ideas than in the US. It is also difficult for small entrepreneurial companies to gain entry to big global banks.” ImageSource
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.