FinTech investment in UK reached record-high $3.3 billion in 2018

Whilst many journalists and commentators continue to be miserable about Brexit, out there in the real world there is good reason to be optimistic.

New figures from Innovate Finance show that 2018 saw the largest ever amount of FinTech investment in the UK, hitting $3.3 billion for the year, an increase of 18%.

As Innovate themselves lay out: “The United Kingdom’s FinTech sector kept its position as a world leader, ranking third globally in terms of venture capital invested behind China and the US.

“Within Europe, the UK continues to dominate followed by Germany ($716 million and 48 deals) and Switzerland ($328 million and 40 deals).”

The CEO of Innovate Finance, Charlotte Crosswell, has said: “It is very encouraging to see that investment continues to grow in the UK FinTech sector, reaffirming its position as a leading global financial and technology centre.

“The UK has a unique position across financial services, technological innovation, regulators and government which all play a crucial role in this impressive growth journey.

“However, we should not be complacent as new challenges lie ahead; we must focus on growing our talent and capital pipeline across the UK, to ensure sustainable and inclusive growth in the future.”

This welcome news comes off the back of data that showed that London beats all European competition when it comes to attracting tech talent, with new investment coming. Apple are to open a new London HQ in Battersea in 2020 and Google’s new HQ in King’s Cross will house up to 4,500 staff.

Time to deliver Brexit, become a globally-focused nation and continue to move forward as a world-leader in FinTech and so much more beside.