Business & Finance
UK Fintech Funding Drops to Lowest Level in At Least a Decade
Key Points
UK Fintech Funding Drops to Lowest Level in At Least a Decade Investment in UK financial technology firms fell to the lowest level since at least 2016 in the first half of this year, as funders flock to companies tied to artificial intelligence and can show long-term growth. Fintechs in the UK received £1.8 billion ($2.5 billion) of investment during the period, down nearly two-thirds from a year ago, according to a KPMG report citing PitchBook data. Deal count also fell to its lowest in a...
UK Fintech Funding Drops to Lowest Level in At Least a Decade
Investment in UK financial technology firms fell to the lowest level since at least 2016 in the first half of this year, as funders flock to companies tied to artificial intelligence and can show long-term growth.
Fintechs in the UK received £1.8 billion ($2.5 billion) of investment during the period, down nearly two-thirds from a year ago, according to a KPMG report citing PitchBook data. Deal count also fell to its lowest in a decade, with 205 deals across mergers and acquisitions, private equity and venture capital completed in the first half, compared with 281 year-over-year.