Just over a year after Britain voted to leave the EU, investors remain confident about strong growth in the Fintech sector, according to Altfi.
The second quarter of 2017 saw a huge investment of £1bn into Fintech, around £760m more than in the first quarter, the highest investment level for six quarters.
And it’s not just the UK that celebrated Fintech success: total fintech investment around the world reached $8.4bn, compared to $3.6bn in the first quarter.
Altfi recently quoted Ian Pollari, global co-Leader for Fintech and a partner for KPMG Australia, saying, “Fintech investment has made a comeback this quarter – a sign of renewed investor intent – particularly in the US and Europe”.
He went on to say, “Corporates are increasingly accounting for significant amounts of Fintech investment – a trend that isn’t likely to let up given the need for financial institutions to digitize the customer experience, become more cost efficient, and find new sources of earnings growth.”
In Europe, Fintech investment was at a four-quarter high at $2bn, but this still doesn’t compare to the $5.8bn high of the fourth quarter of 2015. Deal volume declined from 110 to 90, quarter over quarter, but the median VC deal size was higher than last years, at $15.9m.
In Asia, investment was relatively steady with $760m over 51 deals, compared to $790m across 56 deals in the first quarter.
The overall message for Fintech globally, is that the market continues to get stronger.