Better Britain Business Start Ups

There’s still investment in tech in London – despite the spectre of Brexit

Investors haven’t stopped putting money into London startups, despite the looming threat of Brexit. Since the turn of the year, venture capitalists have invested £395 million in firms based in the capital, up from £245 million in the preceding three months.

Since the referendum to leave the European Union, London tech firms have received more than £1 billion in funding, over 70 per cent of the total £1.59 billion invested into UK tech during that period.

The favourite sector for VC money is, as ever, fintech. Big recent deals for Funding Circle (£82 million), Monzo (£22 million) and Currency Cloud (£20.27 million) mean financial services suck up 44 per cent (£177 million) of the available investment, taking the total VC investment in the past five years to more than £2 billion.

Read the full story from Rowland Mantorpe here

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