UK Fintech Investment Drops 40 Percent in First Half of 2020

UK fintech investment dropped 39 percent for the first half of 2020 to $1.84bn, down from $3bn in the first half of 2019; more than 50 percent of the funding went to Revolut,, Starling Bank, Onfido and Thought Machine; even with the the overall funding down fintech is back to firing on all cylinders according to Jay Wilson, Investment Manager at VC firm Albion; Charlotte Crosswell, CEO of Innovate Finance tells AltFi, “Whilst early-stage conversations suggest capital is ready and waiting to be invested, there is still a lag in actual funding. It is yet to be seen if the rest of 2020 sees a pick up in activity, but in the meantime, we must help fintechs of all sizes source the capital they need to emerge from the pandemic, if our sector is to grow during the crisis”. AltFi.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.