UK on a Brexit slide
France and Sweden are doing well out of Brexit, having picked up a bigger share of fintech deals since the British vote to leave the EU last year. So, as the UK’s share of European fintech deals has slipped from 45% last year to 34% this year to date, Sweden has bumped up from 9% to 12%, while France has risen from 6% to 11%, according to CBInsights metrics.
To date this year, venture capitalists have invested $2.6 billion in fintech-related ventures, a new record and more than double the total raised in 2013. CBInsights expects the 2017 total to eventually beat $4 billion.
CBInsights also notes the growth of blockchain projects, many of them led by governments in Sweden, the UK, Ukraine and Estonia. For private blockchain initiatives, Switzerland is emerging as a hub of choice inside Europe.
"Switzerland has proved itself a regulatory haven for blockchain start-ups, while the technology’s decentralised funding mechanism lends itself to borderless innovation," CBInsights says.
For that deeper dive:
Now fintech is getting really innovative – FT
Here comes Chinese fintech – Brink Asia
Image: Steve Mullins