UK FinTech investment is booming! Read my thoughts on the success of the sector in the FT's Investors' Chronicle this morning.
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Profit from the UK Fintech boom
The success of established fintech companies show the investor appetite for more. UK challenger bank Revolut achieved a valuation of $33bn (£24bn) in its latest funding round to become the country's most valuable fintech company. That’s a similar market capitalisation to Natwest (NWG), which had revenues of over £10bn last year, compared with £222m for the startup bank. However, Howard Womersley Smith, partner at law firm Reed Smith said investment in UK fintech had been too low in recent years and a splurge would lead to more success stories. Banks in particular have been too slow and are insufficiently agile to build their own fintech... But not all fintech firms have left investors flush. Last summer Revolut rival Monzo completed a funding round at a 40 per cent discount to its previous valuation of £2bn in June 2019