London continues to attract RegTech investments despite Brexit.
The majority of global RegTech deals continue to take place predominantly in technology centres of innovation or major financial services hubs with San Francisco, New York and London battling for the top spot. San Francisco recorded the most deals in 2019 with 36 transactions, while the other two cities saw 30 and 26 funding rounds, respectively.
However, London regained its top position in the first quarter of 2020 as companies based in the European RegTech capital completed eight transactions. Despite the headwind risks associated with the uncertainty of the final Brexit deal, London has remained a buoyant and robust magnet for RegTech deals. The largest investment recorded in the capital was Snyk’s $150m Series C round raised in February.
Interestingly, the first three months saw a surge in RegTech deals recorded in Singapore with six transaction, placing it above New York. The city’s RegTech sector was bolstered by Horangi’s $20m raise in March and Credify’s $1m seed round in February.
The top six list was rounded off by San Jose and Atlanta, which saw three RegTech deals each completed in the cities.
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