UK the place for Tech investment as investors plough over £9bn into British tech businesses in 2019

by | Nov 29, 2019 | Blog Post, business, fintech, Investment, Startup, Technlogy |

Tech Funding

The UK has pulled well ahead of its closest rivals Germany and France as a tech investment magnet, despite ongoing Brexit uncertainty.

Investment in UK technology companies rose by nearly 50pc in 2019 to reach $11.12bn (£9.4bn) compared with $7.52bn last year.  This is more than double the amount invested in Britain’s two closest rivals, Germany and France, which raked in $5.9bn and $4.87bn respectively.London continues to be the number one tech hub in Europe in terms of investment, followed by Berlin and then Paris.  The capital is home to more than double the number of tech startups (2,747) that have received funding since 2015 compared with Paris (1,183) and Berlin (930).

However, three other UK cities – Bristol, Cambridge and Oxford – were in the top 20 tech hubs by funding amount in Europe, the highest number of any country.

The UK is now home to 29 tech companies valued at $1bn or more – the fabled unicorns — compared with 25 in 2018. By comparison Germany has 17 VC-backed unicorns and France, 11.

The number of UK deals nudged upwards to 1,303 in 2019 compared with 1,130 in 2018, reflecting the maturity of the market as investors put more money into larger funding rounds.

Original Source: Growth Business

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