UK capital of European fintech, despite four-year investment low

UK fintech investment hit a four-year low in 2024, but the UK remains the capital of European fintech, a new report has found.

The KPMG Pulse of Fintech report found that UK fintech investment dropped to $9.9bn in 2024, which was down 27 per cent from $13.6bn in 2023. UK fintech investment in 2024 was at its lowest level since 2020 ($7.6bn), the report said.

Geopolitical uncertainty, high levels of inflation, and the higher interest rate environment all contributed to more subdued levels of UK fintech investment, compared to the record highs in 2021.