UK IS EUROPE’S TOP INVESTMENT DESTINATION FOR FINTECH ANGELS HIT RECORD FOR INVESTING, DESPITE COVID CRISIS

The UK FinTech sector has retained its role as the top-ranking investment destination in Europe, with $4.1 billion venture capital and growth private equity invested across a total of 408 deals. While this represents a year-on-year drop of nine per cent, given the global Covid-19 pandemic and the surrounding economic challenges, it’s not surprising the drop wasn’t further.

Globally, the UK ranks second only to the US in total capital raised.

The UK accounts for just under half of the total $9.3 billion European FinTech investment, with more deals and capital invested here than in Germany, Sweden, France, Switzerland and the Netherlands combined.

Within Europe, Germany was second with $1.4 billion of investment across 71 deals, up 50 per cent. Sweden ranked third with $1.3 billion of capital raised, with France and Switzerland closing out the top five.

The largest investments in Europe were secured by payments company Klarna in Sweden ($650 million), and challenger banks Revolut in the UK ($580 million) and N26 in Germany ($570 million).