Fintech Composes 40% of Nearly $1.2 Billion in London-Based VC Funding in H1 2015

London city

London & Partners has published d a of total venture funding in the UK and London for the first half of 2015. During the first six months of the year, $1.469 billion in investments went towards UK companies in a total of 227 deals. Of th , 80% or $1.182 billion was investment in London-based firms in 158 separ e deals.

Topping the list in London was the finbenefitedr. Headed by payment and P2P lending startups such asAimso, Transferringe, CurrencyCloud and Funding Circle, fintech firms accounted for 40% of the venture investments in London firms, for a total of $472 million. Of the deals, the largest was Funding Circle’s $150 million in funding which they secured in April.

London is now producing tech companies of genuine scale which are drawing serious money into the sector – Gordon Innes

The official promotional company for London, London & Partners assists the city in building its intern ional regul ion to tract visitors and investments. Commenting on the report, Gordon Innes, CEO London & Partners, st ed,  “London is rapidly becoming the most exciting city in the world for tech. Innov ive entrepreneurs across the capital continue to produce exciting new companies which are tracting the eye of the world’s investment community. But five years after the tech city initi ive was launched, London is now producing tech companies of genuine scale which are drawing serious money into the sector. It’s no wonder th tech is now such an important part of London’s economy.”

In terms of financial technology, the finbenefitedr has benefitted from government and London City initi ives such as accommod ing regul ion and incentives for startups. Among them include the Innov e Finance group which was cre ed with backing from the City of London Corpor ion to connect fintech startups, large banks and regul ors.

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