FinTechs in Britain raised a record amount of venture capital last quarter, despite regulatory challenges.
Venture Capitalists invested a total of £720mn into UK FinTech companies in the three months ending June this year.
This is almost double the investment from the same quarter last year.
CB Insights has revealed the data as part of its Global FinTech Report.
What does this mean?
CB Insights has cited the fast-growing number of unicorns in the UK as a contributing factor to this positive investment news. Indeed, there are 72 unicorn firms based in Britain at the moment, 18 of which are FinTech companies.