Geopolitical uncertainty, inflation, and high interest rates have subdued investment compared to 2021.
EMEA fintech investment dropped from $19.1 billion in H2 2023 to $11.4 billion in H1 2024.
Total fintech investment in the UK reached $7.3 billion in
the first half of 2024. This is a significant increase from $2.5 billion in the
same period of 2023. The data comes from KPMG’s latest Pulse of Fintech report,
released today (Tuesday) August 2024.
Despite this increase, the investment climate remains
cautious. Geopolitical uncertainties, high inflation, and elevated interest
rates have led to more subdued levels of investment compared to the record
highs of 2021.
Major Deals Inflate Figures
A major factor in the H1 2024 total was the size of several
large deals. Notable transactions included Leonard Green’s $4 billion buyout of
financial software company IRIS Software Group, a $999 million venture capital
round for the small business marketplace platform Abound, and a $621 million
funding raise by neobank Monzo. Excluding these large deals, UK fintech
investment would have been $1.8 billion.
Hannah Dobson, Partner and UK Head of Fintech at KPMG UK, Source: KPMG
In the first half of 2024, there were 198 M&A, private
equity, and venture capital deals in the UK fintech sector. This is a decrease
from 284 deals in the same period of 2023.
Despite this drop, the UK continues
to lead European fintech investment. UK fintech companies attracted more
funding than those in the rest of Europe, the Middle East, and Africa (EMEA)
combined.
Hannah Dobson, Partner and UK Head of Fintech at KPMG UK,
said: “We are expecting to see growing investment interest in AI and its use in
the fintech and regtech space.”
“Regulation remains a key focus in the EU,” she added, “particularly with crypto and digital asset businesses as they navigate the new
EU’s Markets in Crypto Assets regulation, which is expected to arrive in
December 2024.”
EMEA Deals Drop Sharply
The overall fintech investment in the EMEA region fell
significantly in H1 2024, dropping from $19.1 billion in the second half of
2023 to $11.4 billion.
The largest fintech deals in EMEA, outside of the UK,
included the $652 million buyout of payments firm Banco BPM Gruppo and the
acquisition of the Swiss e-invoicing company Pagero by Thomson Reuters.
Total fintech investment in the UK reached $7.3 billion in
the first half of 2024. This is a significant increase from $2.5 billion in the
same period of 2023. The data comes from KPMG’s latest Pulse of Fintech report,
released today (Tuesday) August 2024.
Despite this increase, the investment climate remains
cautious. Geopolitical uncertainties, high inflation, and elevated interest
rates have led to more subdued levels of investment compared to the record
highs of 2021.
Major Deals Inflate Figures
A major factor in the H1 2024 total was the size of several
large deals. Notable transactions included Leonard Green’s $4 billion buyout of
financial software company IRIS Software Group, a $999 million venture capital
round for the small business marketplace platform Abound, and a $621 million
funding raise by neobank Monzo. Excluding these large deals, UK fintech
investment would have been $1.8 billion.
Hannah Dobson, Partner and UK Head of Fintech at KPMG UK, Source: KPMG
In the first half of 2024, there were 198 M&A, private
equity, and venture capital deals in the UK fintech sector. This is a decrease
from 284 deals in the same period of 2023.
Despite this drop, the UK continues
to lead European fintech investment. UK fintech companies attracted more
funding than those in the rest of Europe, the Middle East, and Africa (EMEA)
combined.
Hannah Dobson, Partner and UK Head of Fintech at KPMG UK,
said: “We are expecting to see growing investment interest in AI and its use in
the fintech and regtech space.”
“Regulation remains a key focus in the EU,” she added, “particularly with crypto and digital asset businesses as they navigate the new
EU’s Markets in Crypto Assets regulation, which is expected to arrive in
December 2024.”
EMEA Deals Drop Sharply
The overall fintech investment in the EMEA region fell
significantly in H1 2024, dropping from $19.1 billion in the second half of
2023 to $11.4 billion.
The largest fintech deals in EMEA, outside of the UK,
included the $652 million buyout of payments firm Banco BPM Gruppo and the
acquisition of the Swiss e-invoicing company Pagero by Thomson Reuters.
Tareq is a financial writer with 15 years of experience covering global markets. His work spans technical analysis, forex broker reviews, and market sentiment, with a focus on topics relevant to retail traders. He joined Finance Magnates in 2023.
At Finance Magnates, he serves as News Editor, covering retail forex and CFD brokers, cryptocurrency exchanges, fintech firms, and regulatory developments shaping the trading industry. He holds an Honours degree in Information Technology from Anfell College, London.
Education:
Honours degree Information Technology, Anfell College, London
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