Investors Invest 60% Less in UK’s Fintech Sector: Report

Investments in the UK blockchain and fintech industry decreased by almost 50% last year.

Bloomberg has reported citing a KPMG report that the volume of capital investments in the industry amounted to only $17 billion, while in 2021 investors sent $22 billion to it.

For 12 months, the number of transactions in the industry has decreased to 591. The company analysts have noted that many venture capital companies and funds have become less interested in the British fintech market against the backdrop of macroeconomic turbulence.

One of the factors that provoked a weakening of investor interest in this industry was the collapse in the capitalization of cryptocurrencies from $3 trillion to $800 billion.

According to KPMG, more deals were closed in the first half of 2022 than in the second half of the year.