In 2022 levels of global investment in FinTech decreased amid economic slowdown

9th January 2023 | Blogs, News, Uncategorised


In 2022 levels of global investment in FinTech decreased amid economic slowdown.

The UK maintains its leadership and holds second position globally for investments in FinTech, behind only the US.

  • In 2022 total capital invested in FinTech globally reaches $92 billion, a decrease of 30% from 2021
  • The UK FinTech sector receives $12.5 billion of investment, an 8% decrease from 2021, and a much smaller drop than the majority of other FinTech hubs 
  • The latest data from Innovate Finance reveals the UK remains second globally in FinTech investment, behind the US, and still the top destination in Europe

London, 9th January 2023 – New data by Innovate Finance, the industry body representing the FinTech community in the UK, reveals the global FinTech investment trends in 2022. 

The total capital invested into FinTech globally reached $92 billion in 2022, a decrease of 30% compared to 2021, when total investment amounted to $130 billion. The capital invested in FinTech in 2022 was spread across 5,263 deals - compared to 6,146 deals in 2021. 

Overall, the US received the most investment in 2022, bringing in over $39 billion in FinTech capital, with the UK firmly in second place with $12.5 billion, rounded off by India with $5.5 billion, Singapore with $4 billion and Germany with $2.9 billion. 

UK based FinTechs received $12.5 billion in investment spread across 546 deals compared to $13.5 billion across 583 deals in 2021, a decrease of just 8% from 2021. This is notably a much smaller decrease than the global average, with many other countries, including the US, suffering a double digit decrease in investment. London continues to be a leading global FinTech investment hub with $10.2 billion received in 2022, down only 5% from 2021. 

The global slowdown comes with some exceptions including Singapore, which recorded an increase in investment of 41% from 2021. 

Some countries have witnessed notable drops in investment in 2022 including China and Brazil, both falling down the global rankings with drops in investment of 65% and 57% respectively from 2021. Other countries, on the other hand, have jumped in the ranking, including France from 11th to 6th position and Singapore from 7th to 4th position. 

The value of the top 5 biggest deals globally in 2022 was over $5 billion or 6% of total global investment into FinTechs, with FNZ receiving $1.4 billion, the largest investment in 2022. The other four largest deals from highest to lowest included Trade Republic,, Klarna and Ramp. Two of the top five deals, FNZ and, occurred in the UK.

Janine Hirt, CEO of Innovate Finance, said: 

“UK FinTechs are holding the fort in securing great levels of investment in challenging economic times, a testament to the resilience and strength of our sector. Our latest report shows that the UK is still receiving more investment in FinTech than all of the next 10 European countries combined, and remains second in the world only to the US. We must continue to work together with industry, government and regulators to build on this momentum and maintain the leadership of the UK as a global centre to start, scale and grow a FinTech business. This is perhaps more important now than ever before as FinTech continues to redefine financial services and provide greater financial support and access to consumers during the cost of living crisis.”

Digital Economy Minister Paul Scully said:

“Despite global headwinds, British FinTech firms showed great resilience last year and helped boost the UK's status as a world leader in tech - delivering jobs and huge benefits for our economy.“In 2023 we are focusing on maintaining that lead by supporting start-ups, boosting digital skills and making this country an even more attractive destination to found, grow and invest in tech businesses."

- ENDS -

Notes to editors

The 2022 Investment Landscape Report is accessible here.

The data was compiled and summarised by Innovate Finance using PitchBook data as at 31st of December 2022. FinTech investment includes accelerator, incubator, angel, seed, early and later stages VC, and PE growth/expansion funding. The data includes both equity and debt capital raises. The data has not been reviewed or approved by PitchBook.

Innovate Finance is hosting a panel discussion on Capital Investment in UK FinTech in 2022 on January 24 to mark the launch of its 2022 Investment Landscape Report.  During the session, hosted jointly with the City of London Corporation, FinTechs and investors will discuss capital raises and investments in 2022, challenges and opportunities, current investment trends and what to expect in 2023.

Media contact 

Seven Hills –

About Innovate Finance

Innovate Finance is the independent industry body that represents and advances the global FinTech community in the UK. Its mission is to accelerate the UK's leading role in the financial services sector by directly supporting the next generation of technology-led innovators.

Innovate Finance's membership ranges from seed stage startups and global financial institutions to investors, professional services firms, and global FinTech hubs. All benefit from Innovate Finance's unique position as the single point of access to promote enabling policy and regulation, talent and skills, business opportunity and growth, and investment capital. By bringing together and connecting the most forward-thinking participants in financial services, Innovate Finance is helping create a global financial services sector that is more transparent, more sustainable and more inclusive.

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