- The PayTech has sector has seen a renewed influx of capital following the Covid-19 pandemic and the increased use of digital and contactless payment methods. The total transaction value of digital payments in the UK rose to $356bn in 2021, a 31% increase from 2020. This is projected to reach $765bn by 2026.
- SumUp, a point of sale platform, topped the list in 2021 with a huge £642m funding round which will be used to expand into Europe, Latin America and Asia.
- UK FinTech investment more than tripled in 2021 to £15.8bn. Deal activity soared as well, almost doubling to 729 transactions in total. Interestingly, investment outside of London grew at a faster rate of 467% compared to London’s 323%, showing a potential rise of strong Fintech ecosystem outside the capital.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2021 FinTech Global