Fintech companies based in London, England raised more funding from venture capital investors in the first six months of 2021 than in any other year.
Investors poured $5.3 billion U.S. into London fintech start-up companies in the first half of 2021, compared to $2.1 billion in the same period in 2020, new research from Dealroom has found.
London's boom tracked soaring fintech investment levels globally as coronavirus lockdowns drove adoption of digital financial services, including payments and trading. Fintech companies globally raised $54.1 billion between January and June of this year, overtaking the total amount secured in the two previous years, the research showed.
London-based fintech start-ups accounted for a large share of Europe's growth, representing over a third of the region's funding. Globally, the city of London ranks second behind San Francisco and slightly ahead of New York, the research found.
Analysts said the figures showed the British capital could remain a leading fintech hub even after the country's exit from the European Union and the economic damage caused by the COVID-19 pandemic.
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