The UK saw $24.5 billion investment in financial technology during the first half of the year, representing the highest volume of FinTech deals on record.

Britain came second only to the US, which brought in $42.1 billion in the first six-months of the year, according to KPMG’s latest Pulse of FinTech bi-annual report.

The UK experienced over four times the level of investment seen through the entirety of 2020, which was just $5.9 billion.

The UK’s investment has been boosted by a $14.8 billion Refinitiv deal and the record 283 deals completed.

FinTech-focused Venture Capital investment in the UK reached $6.2 billion, more than double what was seen in the second half of 2020.

Britain led the EMEA region, which saw over $39 billion investment.

Global FinTech investment also reached record highs, hitting $98 billion, up from $87.1 billion in the previous year.

“UK FinTechs attracted significantly more funding than their counterparts in the rest of EMEA combined,” said Karim Haji, EMA and UK head of financial services, KPMG. “Covid-19 has spurred a race to digital in UK financial services and many of the major banks have dipped into their investment pots for digitalisation – a major reason we are seeing so much corporate investment.”

Haji added: “The picture across EMEA is also incredibly positive with $39 billion invested in the first six months, that’s already $14 billion more than the whole of 2020. It’s also promising to see a wider mix of countries attracting big investments with $100 million+ VC funding rounds in the Netherlands, France, Austria, the Czech Republic and Saudi Arabia.”

Share Story: