London is benefitting most from a global boom in fintech investment, according to research by consultancy firm Accenture.
The firm said the growth of a London fintech cluster is being fueled by the city’s traditional strength in the financial services sector, with some 135,000 financial services tech workers based in the U.K. for entrepreneurs and startups with a financial flavour to draw on.
The Accenture study, entitled “The Boom in Global Fintech Investment; A new growth opportunity for London”, is based on an analysis of global fintech investment data from CB Insights.
Globally, fintech investment has more than tripled over the past three year, according to the study — rising from $928 million in 2008 to $2.97 billion in 2013 — with fintech investment increasing at more than four times the rate of overall VC investment.
Although the U.S. remains the dominant market for fintech investment value, the fastest growing region for fintech deals is now the U.K. and Ireland…
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