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London named top global city for tech investment over past decade

London tech investment
Image credit: MagicBones via Shutterstock

London has been named the number one city for global tech investment over the past 10 years, according to new data.

The UK capital beat out European hubs in Germany and France, and even US titans like New York to take the top spot for foreign investment into tech projects, according to findings from London & Partners.

The figures found that since 2014 London secured funding for 1,752 tech initiatives.

Responding to the data, the Mayor of London Sadiq Khan described the city as an “international success story”.

He added: “This is highlighted by these new figures showing London remains a top destination for the very best international tech businesses.”

The research comes ahead of London Tech Week, which this year celebrates its 10th anniversary.

“The tenth anniversary of London Tech Week is a great opportunity to celebrate our recent successes and I look forward to another decade of growth for our city’s tech sector, resulting in a better, more prosperous London for all,” added Khan.

Fintech is among the top sectors that have put London on top of the global tech stage. The capital has become a global leader over the last 10 years, with large high-growth firms like Revolut, Wise and Starling Bank raking in hundreds of millions of pounds in investment.

While London has attracted impressive tech investments over the past decade, the city, along with the rest of the country is weathering a slowdown in funding.

The government and regulators are also exploring ways to rejuvenate London’s muted IPO activity and encourage more big-name tech companies to pick the UK over the US when undergoing a public listing.

Read more: Why London shouldn’t strive to become the next Silicon Valley