2015 saw record VC funding in UK tech start-ups
The UK's technology businesses raised more than $3.6bn investment in 2015; a 70% increase on 2014
The UK’s technology business raised a record-breaking $3.6bn in venture capital (VC) funding in 2015, according to new data from the Mayor of London’s promotional company London & Partners.
The figure represents an increase of more than 70% on the $2.1bn investment raised in 2014, with London-based tech companies responsible for $2.28bn of the 2015 total – a 69% rise on the $1.3bn raised in 2014.
Since 2010 the UK tech sector has raised $9.7bn, and the capital’s financial technology (fintech) sector continues to dominate – accounting for a quarter of all investment raised by tech firms in the city last year.
London fintech firm Funding Circle was responsible for the biggest single deal of 2015; a $150m investment led by DST Global, while restaurant food delivery firm Deliveroo secured a total of $195m in three separate funding rounds.
The data reports that the growing number of VC firms which have set up funds and operations in London has helped to fuel investment into the capital's tech industry.
Boris Johnson commented: “With a flourishing tech scene and one of the world’s leading financial centres, it is no surprise to see that London’s tech companies are attracting record levels of investment.”