While global fintech capital investment showed no growth in the first half of the year, the UK saw a 24% year-on-year increase
According to data from Innovate Finance, the UK fintech sector received $9.1bn of capital investment across 294 deals in H1 2022. Compared to 2021, the funding grew by 24%. Last year, UK-based fintechs received $7.3 billion across 375 deals in H1.
Total investment and the number of deals in British digital tech companies have steadily risen since 2012. The tech sector has experienced rapid growth over recent years due to the country’s excellence in R&D, innovation and creative thinking. The vibrancy of the nation’s startup and scaleup landscape has also contributed to healthy fintech development.
Meanwhile, the total capital invested into fintech globally reached $59 billion in the first half of the year. For comparison, global fintech investments in H1 2021 recorded US$98 billion across 2,456 deals.
Funding has been tougher to secure for the growth fintech sector as the wider economy is on the brink of collapse. We have previously reported that nearly half a trillion dollars has been wiped off the valuation of fintech firms this year compared to their peak valuation.