What's driving the three-fold growth trend?
In Brief
More than five FinTechs tripled their valuations in recent months
In the first quarter of 2021, UK FinTechs raised more than $2.9bn in funding - up 331 per cent on the same period in the year before.
Major global players like Checkout.com, Stripe, Plaid and Klarna have all seen a big jump in valuation.
What does this mean?
While there are different individual factors at play for each company the overall leap in FinTech valuation reflects the rapidly shifting landscape around payments and consumer banking with cash on the wane, new business models for incremental payments taking hold and retail investors embracing trading platforms at a time when global interest rates for savers are depressed.
