According to the latest research, the UK’s financial technology (fintech) industry has helped to boost US investment.
US venture capital firms have invested a record amount into UK companies this year, being involved in £3.4 billion worth of deals so far this year.
Monzo, the London-based fintech firm, saw one of the biggest investments this year, with £111 million worth of investment being injected into the business.
Meanwhile, there have also been significant investments for data privacy firm, Onetrust (£155 million) and the cybersecurity company, Snyk (£54 million).
Sherry Coutu, Co-Founder of Silicon Valley Comes to the UK, said: “The UK remains a top place for global investors because it is now producing high volumes of scale-up companies.
“While Brexit has created some uncertainty, investors from the US and further afield continue to look to London as Europe’s leading tech hub because it is home to world class talent and an abundance of innovative companies – especially in areas such as fintech, cybersecurity and artificial intelligence.”
The UK has also now become a significant hub for fintech, with London overtaking New York as the top city for investment in fintech firms, while the US remains a key market for UK firms that are looking to expand.
Technology firms are also investing in the UK, with Apple opening a campus in 2021, and Google, Amazon, Microsoft, LinkedIn and Facebook all expanding their presence in the UK.
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