Ion Pacific’s Post

📢 UK FinTech Retains Second Spot in Global Investment Rankings in 2024 but Loses its Crown of Leading all European Countries Combined Despite a tough year for global markets, the UK has reaffirmed its position as a global FinTech leader, securing $3.6 billion in investment in 2024 – ranking second worldwide and first in Europe 🌍 🔍 Key highlights from our latest FinTech Investment Landscape 2024 report: ✔️Global FinTech investment fell by 20% to $43.5 billion across 6,464 deals. ✔️ The UK attracted more capital than the next 5 European countries combined but with a drop of 37% from 2023 ✔️ Significant funding rounds included $621M for Monzo and $267M for Zepz Now is the time to build on our strengths: ✔️ Greater innovation in blockchain, Open Finance, anti-fraud tech. ✔️ Ambitious regulatory reforms ✔️ Inclusive funding practices to support diverse entrepreneurs. Tulip Siddiq, Economic Secretary to the HM Treasury, said: “The UK maintained its position as the FinTech capital of Europe in 2024, with around 3,000 firms supporting tens of thousands of skilled jobs across the country. But we cannot rest on our laurels. New growth-focused remits for the regulators will support innovation in the sector, and we will set out further action to maintain the UK’s position as a world-leader in FinTech when we publish the first-ever Financial Services Growth and Competitiveness Strategy in the Spring.” Janine Hirt, CEO of Innovate Finance, said: "The latest figures tell a compelling story of resilience and adaptability. The UK’s ability to attract $3.6 billion in FinTech investment during a year of economic turbulence reflects the strength and dynamism of our ecosystem. However, this is no time for complacency. We know the upswing in investment is coming, and we need to ensure that when it does, the UK is at the front of the queue as a destination for VC funding. To remain a global leader, we need to double down on innovation, market reforms and progressive regulation, ensuring we are prepared to capitalise on the next phase of growth and stay ahead in an ever more competitive world." Thanks to Michael Carter Joshita Ganesan and to our contributing members including Tim Levene Augmentum Fintech, Gareth Jones FinTech Collective, Kristaps Ronis Fabio Furlani Ion Pacific, Neil Shah London Stock Exchange, Gautam Pillai , CFA Peel Hunt, Dan Jones Orrick UK, Kevin Chong Outward VC, James Codling & Stephen Lemon Volution 🙏🏻 🔗 Read our FinTech Investment Landscape 2024 https://lnkd.in/d5SFR3hC 🔗 You can read the Press Release here https://lnkd.in/dB8CQeMn In partnership with the City of London Corporation, Innovate Finance will be hosting a panel discussion on ‘Capital Investment in UK FinTech in 2024: Insights and Trends’ on Thursday the 23rd of January at 4pm. You can register your interest here https://lnkd.in/deRVtZdf #FinTech #VoiceOfFinTech #FinTechInvestment #Innovation #Investment #FinTechRegulation