UK fintech investment rises despite global slowdown

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While global capital investment in fintech was flat in the first half of the year, the UK saw a 24% year-on-year increase, according to data from Innovate Finance.

Total capital invested in fintech globally reached $59 billion across 3,045 deals in H1 – flat year-over-year.

The global slowdown comes with a few exceptions, including the UK which saw a 24% year-on-year increase from 2021. UK-based fintechs received $9.1 billion in investment spread from 294 deals, compared to $7.3 billion from 375 deals in the first half of 2021. .

Janine Hirt, CEO of Innovate Finance, said: “The UK currently receives more investment in FinTech than all of Europe, second in the world after 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.”

In contrast, Mexico, the Netherlands, South Korea and China all saw notable declines in investment during the semester.

Funding has been harder to come by for the sector as the wider economy stutters. Yesterday, data from CB Insights revealed that nearly half a trillion dollars has been wiped off the valuation of fintech companies so far this year, when their current value is compared to their peak valuation.

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