UK fintech marketplaces raised £177m VC investment last year

Major deals for Funding Circle, Transferwise and WorldRemit help secure more than five times the amount raised by UK fintech businesses in 2013

UK-based financial technology (fintech) marketplaces attracted a total of £177m in venture capital (VC) investment in 2015, according to research from internet payments start-up Stripe.

Crowdfunding platforms, money transfer services and peer-to-peer (P2P) lenders attracted more than five times the £30m funding invested in 2013, with London-based businesses leading the charge.

2015’s most notable funding rounds include what was thought to be a record $150m deal for P2P lending platform Funding Circle, a $58m investment into international transfer service Transferwise and an £80m Series B for money transfer service WorldRemit.

Smaller rounds such as the £10m raised by crowdfunding platform Seedrs and the $60m secured by small business lender iwoca also contributed to the total.

James Allgrove, head of UK growth at Stripe, said: “More and more financial technology start-ups are seamlessly moving money between buyers and sellers, lenders and borrowers, and entrepreneurs and investors.”

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