The UK came third in terms of total global VC investment in FinTech up to Q3 2016.
According to research published by Innovate Finance, some $532m was invested in UK FinTech, whilst firms in China attracted $7.1bn in investment and US financial technology firms raised a total of $5.3bn.
Challenger banks, the research found, proved the most popular when it came to securing funding in the UK.
Starling Bank, SETL, Tandem Bank, Sonovate and Ezbob were the top five FinTech deals this year, each surpassing the $25m deal size mark.
Lawrence Wintermeyer, CEO of Innovate Finance, commented on the findings:
“While the UK still attracted a high number of deals for FinTech there’s been a significant drop in investment year on year to Q3 2016, possibly due to the referendum result on Brexit and the future uncertainty of the relationship between European markets and the financial services sector.”...