The London Stock Exchange agreed to support a review into the decline in growth and investment in UK fintech start-ups.

The review, announced as part of FinTech Week in London, will bring together key industry partners, regulators, investors and fintech companies to better understand the industry’s trajectory and ensure its success.

Fintech was one of the UK’s most invested technology sectors in 2021. record high funding. However, according to Fintech Week London, a new analysis of the industry has shown a sharp decline in 2022.

Founding partners already signed up to support the FinTech Funding Review include the London Stock Exchange, The Fintech Times and fintech PR firm SkyParlour, with more expected to follow.

Of the many pressing issues affecting the international fintech space, the recent predicted decline in venture capital funding affects the entire ecosystem,” said Raf De Kimpe, CEO of Fintech Week London.

De Kimpe said that fintech at all stages will be affected by the slowdown in investment in the industry and that this will have “an impact on technology development, talent acquisition and retention and ultimately the flow of innovative financial solutions to the end”. -user.”

The head of London FinTech Week added that the group has a “unique opportunity to launch an independent review of the fintech industry”, given that it is made up of the UK’s fintech community itself.

“We want to know how the industry can move away from hyper valuations and unsustainable business models and refocus on financial products and services that improve the world in real time.”

A recurring feature of the past year has been the huge valuations of fintech companies in Europe, which has raised some concerns that it will be impossible to sustain this level of expectation and growth.

Klarna demonstrated this idea in 2022, starting with a record A valuation of $46 billion last year, it is now expected to be valued at around $6 billion.

London Stock Exchange to back review of declining fintech growth

Previous articleStrictly Come Dancing 2022: Four new professional dancers join the show
Next articleCan installing solar panels help me avoid rising energy prices? | UK news