London fintechs benefit from accelerated digital adoption

15. October 2020.

Investors continue to pump money into London’s fintech companies, thanks to the accelerated adoption of fintech products and services during the pandemic, according to a report in Finextra

London’s fintech sector attracted $3.6 billion ($4.2 billion) in venture capital investments between January and September 2020, putting London in second place globally, behind San Francisco, with $5.1 billion and ahead of New York’s $2.2 billion.

The U.K. capital takes the top spot for deal count both in Europe and globally, with 169 deals so far this year, with Paris taking second place with 40 deals. San Francisco took second place globally, following with 107 deals.

“World-leading fintech scaleups were born in London out of the 2008 financial crisis and today London’s fintech companies are innovating to respond to changing demands caused by the pandemic,” Laura Citron, CEO, London & Partners said in the report.

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