Financial technology deal flow is growing at a steady pace and the banks are taking note, reports unquote this week. There was about USD 11bn invested in financial technology businesses globally last year, of which the US accounted for 61% and the UK 30%. The hotspot globally is the UK, which although it only accounts for half of the amount of venture capital raised last year in the US, is pro-rata (per population) the UK is two times ahead of the US, with most of that activity taking place in London.
The types of companies attracting VC money in Europe include payments software, behavioral analytics and security and fraud prevention technology. Mentioned in the report are European high flyers such as Wonga (personal loans), which raised around USD 145m and payment solutions provider Klarna, which raised USD 150m, money transfer startup TransferWise, and Tradeshift, an e-invoicing which signed a USD 3bn working capital deal with CapitalAid.
The top 7 most innovate companies at Finovate 2012 (US conference for financial tech) are highlighted in the data-driven infographic above. (Image source: Quid)