VC fintech spending comes off the boil in UK

Published by Financial News

 

Investment by venture capital firms in new financial technologies in the UK is running at levels well below a year ago.

Over the first nine months of the year, venture capital firms made UK fintech acquisitions worth 403 million pounds, according to Preqin data – a 41% fall year on year. Appetite for new investment opportunities remained strong over the period, with the money being deployed across 66 deals, compared with 54 in the first nine months of 2015.

… The Brexit vote could also have a big impact on a few fintech startups deciding whether or not to set u in the UK, according to Doron Cohen, the chief executive of payments company Covercy…