UK FinTech Shines Bright Amid
The Covid Gloom
M&A
(Cancelled)
SPAC
VC
“The industry is starting to mature but the wider opportunity remains nascent where incumbents still dominate in terms of market share”
– Tim Levene, Augmentum FinTech
Weathering the Storm
European Top 5 Countries by Investment
“The global investment community recognises the UK as one of very few places that combines world-leading technical talent with a deep pool of FinTech entrepreneurs who, having had venture capital experience previously, know how to build at the velocity and scale that is required”
– Kevin Chong, Co-Head, Outward VC
More mega-deals as UK FinTech matures
FinTech companies are continuing to grow and attract large investment rounds, as sign of the sectors maturity that we started to witness last year. Since the start of 2020, nine companies in the UK have closed mega-rounds (deals exceeding $100m).
“The UK fintech ecosystem has seen increasing interest from established overseas investors who are becoming more active not only in capital but by hiring local teams on the ground – a trend which has persisted in the first 3 weeks of 2021”
– Tim Levene, Augmentum Capital
- Revolut ($580m) was led by US investor TCV
- Checkout.com ($150m Series B and $450m Series C) was led by US investors Coatue and Tiger Global respectively
- Molo ($343m) was led by German investor Yabeo
- Rapyd ($300m) by US investor Coatue
- Onfido ($100m) by US investor TPG Growth
Company:
Deal Size:
Lead Investor:
Investor HQ:
$580m
TCV
USA
$150m (Series B)
$450m (Series C)
Coatue (Series A)
Tiger Global (Series B)
USA
$343m
Yabeo
Germany
$300m
Coatue
USA
$180m
Sprints Capital, Eurazeo, Wellington Management
Various
$166m
Accel, General Catalyst, Various Others
Various
$125m
Draper Esprit, British Patient Capital, Eurazeo
UK / EU
$123m
Merian Chrysalis, Harold McPike
UK / Bahamas
$100m
TPG
USA
Crystal Ball Gazing into 2021
Did you know that around 12% of the adult population in the UK – some six million people – downloaded their bank’s App for the first time during the first lockdown?
– Source: Nucoro report, April 2020
