How do you solve a problem like a 57 per cent decline in investment in fintechs?
After the dizzying heights of £10.8bn in funding in 2022, total UK fintech investment has dropped to £4.6bn in H1 2023.
External factors like inflation; the Russian invasion of Ukraine; the collapse of Silicon Valley Bank; and mass layoffs across the tech sector have all played their part in tech investors tightening their belts. However, the good news is that the UK fintech space is attracting more funding than competitors based in the rest of the EMEA region combined, and remains fertile ground for fulfilling jobs.
The even better news? An investment fund of up to £1bn has been launched by Mastercard, Barclays and the London Stock Exchange Group to help British fintechs scale and bolster their position to get to IPO stage.
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Named the Fintech Growth Fund, the fund counts former finance minister Philip Hammond as an advisor, and is aiming to provide support to companies seeking Series C funding and above.
Additionally, the recently passed Financial Services and Markets Act 2023 includes a range of directives including the regulation of crypto to encourage adoption, which will boost the UK’s position as a global leader in the fintech space.
Commenting on the legislation in its recent Pulse of Fintech report, KPMG’s John Hallsworth, a partner within Financial Services, Open Finance & Fintech shared: “The UK is working hard to become a leading global centre for crypto and digital assets, building on its natural advantages — the legal and regulatory environment, the availability of skills, the quality of the universities and the language and time zone positioning.
“While the UK may not be first out of the blocks with its crypto and digital assets regulations, they’ll likely come into force in early 2024, it is working to create the right regulatory environment to support a sustainable crypto and digital assets ecosystem and make it an attractive location to participants, while also protecting consumers.”
Ready to accelerate your career in fintech? The Information Age Job Board features thousands of opportunities within the sector, like the three fintech jobs below.
Director, software engineering – RippleX, Ripple, London
RippleX is hiring a director of software engineering to help build the next generation of tools and capabilities to create the Internet of Value. It is investing in key areas including tokenisation, interoperability and liquidity to help its developers build the next generation of blockchain-related applications and companies on the open-source XRP Ledger. In this role, you will build and lead impactful engineering teams and be responsible for the entire software development process. Get more information here.
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Senior cloud / systems engineer – Fintech, Client Server, London
Are you a talented senior cloud / systems engineer who is proficient in Python and has a strong knowledge of AWS? Client Server is seeking the ideal candidate to join a rapidly expanding software company that uses award winning and cutting-edge technologies to build fintech solutions. In this role, you will develop and deploy cloud-based infrastructure for the core trading analytics platform utilising IaC templates; focus on IaC using Terraform; automating cloud deployments (CI/CD); enhancing the monitoring capabilities; supporting live environments; and will have oversight of information security related strategy such as administering privileges, addressing issues such as vulnerability scan findings and coordination of penetration testing. See the full job description here.
Senior Power Platform developer, ClearCourse, London
ClearCourse is looking for a senior Power Platform developer, experienced in leading the design and architecture of solutions to join its Fetchify team. This role presents the perfect opportunity for someone looking to progress in their career and will give you the opportunity to provide technical guidance and mentorship to other developers. You will provide digital solutions for membership and not-for-profit organisations, bringing together data, experience, enhanced platforms and consultancy to create brilliant experiences. Applicants should have a strong understanding of Azure services, and experience with CI/CD for Power Platform. If this sounds like your ideal role, apply now.
A lifestyle journalist and editor for over 10 years, Aoibhinn McBride has written for titles in Dublin, London, New York and Dubai
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