Back in February, the highly anticipated Kalifa Review of UK Fintech led by former Worldpay CEO Ron Kalifa was published. There are many takeaways from this review highlighting how the UK can establish itself as the world-leading fintech market.
The review identifies that the majority of investment pumped into UK fintech companies in the past five years has come from overseas capital. But at the same time, many homegrown investors are also aggressively investing in fintech brands.
Some of the biggest rounds in the UK took place in fintech recently. Anne Boden-founded Starling Bank raised £272 million, Zego became the first insurtech unicorn ever and more.
In comparison to Silicon Valley, for the UK fintech industry, its just the beginning. And to compete with the world superpowers, the industry would need a vibrant fintech startup community with innovative goals. The good thing is, this throbbing community is already coming up and has some really ambitious names in its club....