Levels of investment in UK FinTech continue to increase despite global slowdown

  • Total capital invested in FinTech globally reaches $59bn – flat year-on-year
  • The UK FinTech sector continues to grow with investment reaching $9.1bn – a 24% year-on-year increase from 2021 
  • The latest data from Innovate Finance reveals the UK remains second globally in FinTech investment, behind the US, and the top destination of Europe

London, 19th July 2022 – New data released today by Innovate Finance, the industry body representing the FinTech community in the UK, reveals the global FinTech investment trends from the first half of 2022. 

The total capital invested into FinTech globally reached $59bn in the first half of the year – flat year-on-year compared to 2021. The capital was spread across 3,045 deals – which is slightly fewer than 2021 which saw 3,401 deals in the first half of the year. 

The global slowdown comes with some exceptions including the UK which recorded a 24% year-on-year increase from 2021. UK based FinTechs received $9.1bn in investment spread across 294 deals compared to $7.3 bn across 375 deals in the first half of 2021.

Some countries have seen notable drops in investment in the first half of 2022 including Mexico, Netherlands, South Korea, and China, all falling down the global rankings. 

The value of the top 5 biggest deals globally in the first half of 2022 was $5.0 bn, with, one of the top five from the UK. The largest deals from highest to lowest were for FNZ ($1.4bn), Trade Republic ($1.2 bn), ($1bn), Ramp ($748m) and Coda Payments ($690m). 

Overall, the US received the most investment in the first half of 2022, bringing in $25bn in FinTech capital, with the UK firmly in second place with $9.1bn, rounded off by India ($3.9bn), Germany ($2.4bn) and France ($2.3bn). 

Janine Hirt, CEO of Innovate Finance, said: 

“It is fantastic to see that UK FinTechs are continuing to secure outstanding levels of investment – this is a testament to the strength of our ecosystem, including our innovative entrepreneurs and founders, strong and diverse talent pool, and a supportive government and regulatory framework. 

“It is critical that we now keep up this momentum. The UK is currently receiving more investment in FinTech than all of Europe, second only in the world to the US. We must continue to work together – industry, government and regulators – to build on this leadership and ensure the UK remains the best place in the world to start, build and scale a FinTech business. This will positively impact not only the financial services sector but the entire population of the UK as a whole who will benefit from new, innovative, and more effective products that drive greater financial wellness.”


Economic Secretary to the Treasury, Richard Fuller said:  

“UK Fintech is a fast-moving and exciting sector and through their innovative approach firms are driving the government’s vision to embrace new technology and ideas – helping to grow the economy and widen consumer choice.

“It’s great to see that the UK remains Europe’s leading hub for fintech – only second to the US globally – with almost half of all of European fintech unicorns based in the UK.”



You can read the full analysis here.

Notes to editors

The data was compiled and summarised by Innovate Finance on 1st July 2022 using PitchBook data. FinTech investment includes accelerator, incubator, angel, seed, early and later stages VC, and PE growth/expansion funding. The data has not been reviewed or approved by PitchBook. 

Pitchbook updates its data in real time, as deals get announced or closed, or deal size adjusts during the course of the transaction.

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.