Fintech companies are often exciting innovators that keep investors on their toes as they rapidly develop new services and products. As a sector, financial technology is in a major period of growth. There were several major deals in the sector last year, with a number of multi-billion pound deals, including Blackrock’s acquisition of FutureAdvisor for £120.73 million. But what does 2017 hold for this industry and who are the major prospects in Fintech?
Top Fintech’s we’re keeping an eye on for 2017
Venture capital funding of fintech start-ups increased by 70% in the US, and in the UK in 2015 and shows no sign of slowing, the fintech sector is estimated to be worth around £6 billion to the UK economy in 2017. The sector currently employees around 61,000 people. HM Treasury says this is due to a supportive and prosperous fintech policy environment, with tax incentives and government schemes designed to encourage innovation and investment. London has seen a number of fintech start-ups grow into major success stories, including Skrill and Funding Circle.
Former Morgan Grenfell fund manager, Flynn Levy, launched the business in 2014, alongside a team of data scientists, neuroscientists and fund managers. The company raised £2.1 million in start-up capital and is working with hedge funds and fund management companies in the US and Europe.
London has seen a number of fintech start-ups grow into major success stories, including Skrill and Funding Circle.
Other fintech businesses worth watching include Zopa, Seedrs, Currency Cloud and SETL.