UK FinTech companies raised significantly less from VCs in Q2 2017, when compared to the previous quarter.
According to CB Insights’ ‘The Global FinTech Report: Q2’17′, venture capital-backed deals in UK FinTech fell by 40% during the second quarter of this year.
The report says funding plummeted by 52% after a temporary surge in the first quarter of the year following Atom Bank’s and Funding Circle’s $100m deals.
The data shows that UK FinTech firms raised $164m during Q2 2017, compared to the $339m invested during the first quarter of 2017.
Despite investment slowing down somewhat during Q2 2017, funding raised from VCs during the period was still higher than that of Q2 2016 ($151m), Q3 2016 ($99m) and Q4 2016 ($129m)....