FinTech: UK Fintechs Pull Out All The Stops In Fundraising In H1 2021

July 12, 2021 | FinTech, News

UK fintechs have raised a record-breaking $5.7 billion in the first half of this year.

A report by trade body Innovate Finance says that the UK fintech sector raised more in just the first six months of 2021 than the whole of 2020. Enthusiastic investors pumped $5.7 billion into the sector in H1, 34% higher than the total amount of $4.3 billion received in all of 2020, and more than pre-pandemic levels. (Innovate Finance)

The 2021 collection, so far, is already ahead even of the record year set in 2019 ($4.6bn) by 26%.

The UK, the fintech hub of Europe

A record 13 mega-deals, i.e. those sized $100 million or more, were struck in H1 2021, versus just seven in the entire 2020.

“Fintech is one of the fastest-growing sectors of our economy and has a vital role to play in the UK’s economic and business recovery,” said Janine Hirt, chief executive of Innovate Finance. “To have secured record funding – in just six months – speaks to an enduring confidence in UK innovation, as well as our ability to build and scale world-class businesses.”

The numbers cement the UK’s pre-eminent position as Europe’s fintech capital and are creditable given they followed in the wake of 2020, the challenging year of the pandemic.

Big-ticket deals

The report highlighted the top deals of H1 2021 as follows.

Rank Company Deal size
1 Saltpay $500m
2 $450m
3 Starling Bank $376m
4 $300m
5 Rapyd $300m
6 Smart Pension $230m
7 ClearScore $200m
8 10x Future Technologies $187m
9 PPRO Financial $180m
10 DNA Payments $140m
11 PaySend $125m
12 $120
13 PayFit $107m

The report from Innovate Finance said UK fintech is now second only to the US (940 deals and $26.7bn) in terms of funds raised, and well ahead of the levels secured by Brazil (40 deals and $3bn), Germany (56 deals and $2.5bn) and India (132 deals and $2.2bn) during the same period.

“This analysis clearly demonstrates that the appetite among international investors to fund high-growth, innovative firms has never been greater, and is a testament to the UK’s position as a world leader in FinTech,” Hirt said.

Related Story:  Money Transfer App Wise Gets $11B Valuation In London Direct Listing

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
FinTech: UK-Based BNPL Player Zilch Closes Series B With Additional $110M
July 23, 2021     FinTech, News

The $110 million comprised both debt and equity capital. Zilch, the UK-based BNPL platform has raised an additional $110 million from Goldman Sachs and DMG Ventures. The funding is part…
Alternative Investments/Hedge Funds: Inflation Fears Boost Hedge Funds’ AUM To Nearly $4T
July 23, 2021     Alternative Investments, Hedge Funds, News

A market survey by alternatives technology provider Vidrio Financial shows that fears of inflation have helped move substantial fund allocations during the first half of 2021 to alternative assets such…
Alternative Investments/Digital: Global X Throws Its Hat In The Bitcoin ETF Ring

Global X, the New York-based ETF provider and subsidiary of $560 billion investment manager Mirae Asset, has filed with the SEC for permission to launch a bitcoin ETF titled the…
Digital Assets: Crypto Adoption Stories From JPMorgan, Gallup Poll, Bitcoin Depot, And UBS
July 23, 2021     Digital Assets, News

Four news bites that show cryptos are hanging on, recent crashes notwithstanding. From bitcoin ATMs to crypto FOMO, here goes….