Brexit Britain has attracted more fintech investment in the first half of 2021 than the rest of Europe, the Middle East, and Africa combined according to stunning new figures from professional services giant KPMG.
$24.5 billion was ploughed into UK fintech in the first half of the year, way up on the $5.9 billion invested across all of 2020, and coming second only to the United States.
The incredible figures will further rubbish the claims of rabid pro-EU activists in the run-up to the 2016 Brexit referendum and in the years of intense political debate that followed the British public’s decision to quit the struggling European Union.
The UK accounted for a quarter of all fintech investment in the year to June, with $98 billion being invested worldwide, leaving the rest of Europe in its dust.
“Covid has spurred a race to digital in UK financial services and many of the major banks have dipped into their investment pots for digitalisation – a major reason we are seeing so much corporate investment” said KPMG’s Karim Haji.
“This timing, together with the UK’s reputation as a historic financial services sector and ongoing work to nurture fintechs, from testing through to listing, makes the UK a magnet for investment.”
It’s just the latest good news for the British economy following our departure from the hated European Union, with recent data from the CBI Economics Industrial Trends Survey revealing output growth in 16 of 17 sub-sectors of British manufacturing as the sector overall posted its most explosive growth on record.
And in the last month and a half, this website has reported on huge plans by automotive giant Nissan to create thousands of jobs in Sunderland with a massive new battery plant, as well as plans to recruit 400 more employees to work on building new models including the Qashqai and Leaf.