London remains FinTech capital of the world

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The total amount of London’s FinTech deals, including stock market listings, direct investment and acquisitions, has surpassed $18.4 billion (£11.9bn), according to research from consultancy firm William Garrity Associates.

Whilst the research doesn’t take into account the $16.4 billion deals that involved FinTech companies in or around the San Francisco area, it does highlight that London’s pace of growth is leaving San Francisco in the dust.

Another piece of research also suggests that London is becoming the global home of FinTech.  According to research from CB Insights, the amount invested into London’s Fintech companies this year has already surpassed the amount invested in the whole of 2014.

Over half a billion dollars ($554m) was invested this year compared to $487m invested last year. These figures were undoubtedly propped up by the huge deals that went down this year. Funding Circle secured a $150m investment in April, whilst TransferWise managed to raise $58m right at the beginning of 2015.

“London and the UK will lead this FinTech cycle. I genuinely believe it can’t be Silicon Valley,” said Eileen Burbidge, the UK Treasury special envoy for FinTech at London FinTech Week.

She went on to say, “This is something that is unique to this country and it’s why, even as a Silicon Valley export myself, this is where FinTech will be led.”

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