The study confirms that global investment in financial-technology (fintech) ventures tripled from $4.05 billion in 2013 to $12.2 billion in 2014, with Europe being the fastest growing region in the world. The report also confirms that in 2014, fintech investment increased at more than three times the rate of overall venture capital investment. Further confirmed was that the US still captures the lion’s share of fintech investment, Europe experienced the highest growth rate, with an increase of 215% to $1.48 billion in 2014.
The UK and Ireland (UKI) accounted for more than two-fifths (42%) of the European total, as investment in the region rose from $264 million in 2013 to $623 million in 2014. In the rest of Europe, the regions that experienced the most significant levels of investment in 2014 were the Nordic countries ($345 million), the Netherlands ($306 million) and Germany ($82 million).
The massive investment in fintech shows that the digital revolution is well advanced in financial services, and it is both a threat and an opportunity for banks. The report also suggests that many established banks are not well equipped to deal with the digital revolution.
The full report can be downloaded here.
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