Proliferation of FinTech

Job creation within the FinTech sector increased by 61% in 2018, making it the fastest-growing sector in the London economy. Of the roles available, those that are most in demand within the FinTech industry continue to be Marketing, PR and IT.  However, those professions that have seen the biggest spike in recruitment (in most cases a 100% increase since 2017) are HR, Accounting and Business Support roles.

UK FinTech Unicrons

With so many superlatives associated with the FinTech sector and London, it looks like we are in the right sector in the right location. In fact, the city has firmly cemented itself within Europe with over a third (39%) of European venture capital funding going to London FinTechs.  That is almost double any other city in Europe – Berlin (21%), Paris (18%), Stockholm (5%), Barcelona (4%), Amsterdam (4%), Zurich (3%), Copenhagen (2%) and Dublin (2%).  E-money firms, meanwhile have grown by 51% between 2017 to 2018, predicted that by 2020 over half of payment-service providers in the UK will be digital-only.

James Murray, director of financial services at Robert Walters said in the UK FinTech revolution whitepaper: “When spotlighting the UK’s leading FinTech unicorns, the income growth they have achieved over the past twelve months is phenomenal – increasing from a combined £77.1m to £177.6m revenue. That’s a revenue growth of 130% in just one year.”

Article Written by: Antony Blaszak, Market Research Analyst


 

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