In the same period investments in Germany increased by 42.5%. Investments in both German and UK fintech companies meant in Q1 of 2017 USD 218 million and USD 516 million, respectively.
Both the UK and Germany raised nearly half of their total respective funding for 2016 in the opening quarter of 2017. Therefore, fintech investment in both countries is going to surpass the value invested in 2016.
UK fintech investments in Q1 was driven by the Atom Bank that raised USD 102 million while Germany’s largest deal went to deposit marketplace startup Raisin which raised USD 32 million Series C round.
The insurtech subsector in Germany attracted over twice the amount invested in the UK, mainly driven by the activity of insurance corporate investors like Allianz and Munich Re. Whilst wealthtech received the second largest total investments in the UK, the infrastructure and enterprise software subsector occupied second place in Germany.
Germany’s fintech industry has grown since 2016 and FinTech Global has identified more than 250 companies active in the country.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now