A recent Accenture study reports a whopping $5.4 billion investment in global Fintech companies for the first quarter of 2016 – a 67% increase over the same period last year.
The Q1 2016 growth was in large part driven by investments going to Europe and the Asia-Pacific, which nearly doubled to 62%. Global Fintech investment overall grew 75% in 2015, exceeding $22 billion in funding.
The Canadian Fintech landscape is also a hotbed of activity with 100 Canadian Fintech startups raising over $1 billion since 2010.
Given last year’s surge of Fintech investment, we can assume that the industry will continue to grow exponentially as finances move to the digital space, while machine learning, algorithms, and big data take the place of traditional finance teams.
There is certainly no over exaggeration that Canada is in the midst of an industry evolution in this sector. Technological innovation in blockchain, lending, payments, wealth management, capital markets, are transforming the financial system to better improve services, convenience and access to capital.
Canadian Fintech’s are poised to become global leaders which can be further attested to by the amount of capital attracted.
The next step for many of these companies is global expansion and the UK provides unrivaled opportunity in the Fintech space. As a global centre of excellence in Fintech, the UK Fintech sector generated over £6.6 billion revenue in 2015.
To capitalize on this trend the UK Department of International Trade (DIT) is hosting a Canadian Fintech mission to London in December. DIT’s Fintech mission will allow companies to explore the UK’s Fintech market and connect with the thriving Fintech ecosystem at the Fintech Connect Live conference.
Canadian companies interested in joining the upcoming Fintech mission are invited to submit an application by September 30, 2016 and can receive further information by contacting the UK Department for International Trade’s Investment Officers in Toronto and Vancouver.
The mission includes a pre-arranged mission program, round trip airfare provided by British Airways, four nights hotel accommodation, and complimentary admission to Fintech Connect Live.