London Daily

Focus on the big picture.
Friday, Aug 22, 2025

London just overtook New York for fintech investment, research shows

London just overtook New York for fintech investment, research shows

London has attracted 114 deals worth $2.1 billion in 2019 so far, research shows. The U.K. capital came out $200 million ahead of New York on total deal value. Industry group Innovate Finance says it shows London’s fintech industry is “maturing.”

London has beaten New York in luring the largest amount of fundraising deals for financial technology companies so far in 2019, fresh research shows.

The U.K. capital’s fintech sector attracted a total of 114 deals worth a record $2.1 billion in the first eight months of the year, according to figures shared with CNBC by industry group Innovate Finance and Mayor of London Sadiq Khan’s promotional agency London & Partners.

While San Francisco still tops London in terms of total deal value —start-ups in the Californian city raised $3 billion — outfits in the U.K. capital won the most amount of funding rounds, the study said. New York firms snagged 101 fintech deals while San Francisco saw 80.

London also came out $200 million ahead of New York on total deal value, with fintech firms in the U.S. city having raised $1.9 billion. That was followed by Belgium at $881 million and Stockholm at $735 million.

The research was compiled using data from private capital markets research firm Pitchbook.

Charlotte Crosswell, CEO of Innovate Finance, said the development revealed a step change within London’s fintech industry, with the likes of Monzo and OakNorth attracting huge nine-figure mega rounds.

“Generally what you’re seeing is a maturing of the sector,” Crosswell told CNBC in an interview. “The numbers of deals are coming down slightly but the size is going up. That’s very natural and we would expect to see that as companies are becoming more successful and scaling globally as well.”

The U.S. is still easily home to the largest fintech market in the world, with start-ups in the country having raised nearly $9.4 billion so far this year.

But local industry executives argue that Britain and the rest of Europe are ahead of the curve when it comes to innovation in the financial services industry, as well as the adoption of new fintech apps and contactless payments.

“There is much more advanced competition in the U.K.,” Shachar Bialick, co-founder and CEO of fintech firm Curve, told CNBC. “In Europe it’s significantly higher than the States. The U.S. is very much behind when it comes to new fintech technologies.”

The U.K. is home to a flood of new banking challengers which have gained popularity by offering customers little more than an app and debit card. The so-called “challenger bank” model has helped upstarts draw in millions of users, with Revolut having recently hit over 7 million users and Monzo hitting 3 million. Revolut is seeking to raise a fresh round of funds later this year.

WATCH: A lot of opportunity in the UK market, fintech CEO says

Newsletter

Related Articles

0:00
0:00
Close
After 200,000 Orders in 2 Minutes: Xiaomi Accelerates Marketing in Europe
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
Trump Called Viktor Orbán: "Why Are You Using the Veto"
Horror in the Skies: Plane Engine Exploded, Passengers Sent Farewell Messages
MSNBC Rebrands as MS NOW Amid Comcast’s Cable Spin-Off
AI in Policing: Draft One Helps Speed Up Reports but Raises Legal and Ethical Concerns
Shame in Norway: Crown Princess’s Son Accused of Four Rapes
Apple Begins Simultaneous iPhone 17 Production in India and China
A Robot to Give Birth: The Chinese Announcement That Shakes the World
Finnish MP Dies by Suicide in Parliament Building
Outrage in the Tennis World After Jannik Sinner’s Withdrawal Storm
William and Kate Are Moving House – and the New Neighbors Were Evicted
Class Action Lawsuit Against Volkswagen: Steering Wheel Switches Cause Accidents
Taylor Swift on the Way to the Super Bowl? All the Clues Stirring Up Fans
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Apple Expands Social Media Presence in China With RedNote Account Ahead of iPhone 17 Launch
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Cambridge Dictionary Adds 'Skibidi,' 'Delulu,' and 'Tradwife' Amid Surge of Online Slang
Bill Barr Testifies No Evidence Implicated Trump in Epstein Case; DOJ Set to Release Records
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
The CEO Who Replaced 80% of Employees for the AI Revolution: "I Would Do It Again"
Emails Worth Billions: How Airlines Generate Huge Profits
Character.ai Bets on Future of AI Companionship
China Ramps Up Tax Crackdown on Overseas Investments
Japanese Office Furniture Maker Expands into Bomb Shelter Market
Intel Shares Surge on Possible U.S. Government Investment
Hurricane Erin Threatens U.S. East Coast with Dangerous Surf
EU Blocks Trade Statement Over Digital Rule Dispute
EU Sends Record Aid as Spain Battles Wildfires
JPMorgan Plans New Canary Wharf Tower
Zelenskyy and his allies say they will press Trump on security guarantees
Beijing is moving into gold and other assets, diversifying away from the dollar
Escalating Clashes in Serbia as Anti-Government Protests Spread Nationwide
The Drought in Britain and the Strange Request from the Government to Delete Old Emails
Category 5 Hurricane in the Caribbean: 'Catastrophic Storm' with Winds of 255 km/h
"No, Thanks": The Mathematical Genius Who Turned Down 1.5 Billion Dollars from Zuckerberg
The surprising hero, the ugly incident, and the criticism despite victory: "Liverpool’s defense exposed in full"
Digital Humans Move Beyond Sci-Fi: From Virtual DJs to AI Customer Agents
YouTube will start using AI to guess your age. If it’s wrong, you’ll have to prove it
×