RegTech companies in the UK have raised more than $930m across 145 transactions since 2014, with 27.3% of this capital raised in the first six months of 2019.
Investment increased at a CAGR of 47.7% between 2014 and 2018, with the number of transactions in the first half of the year already at three-quarters of the deal activity recorded in 2018.
Investors poured almost $255m into UK RegTech companies in H1 2019, which is equal to 49.4% of the total capital raised by companies in the sector across Europe during the period. This dominance can be explained by the importance of London as one of the top financial centres in the world and the supportive role that the FCA has played in promoting innovation within FinTech and RegTech.
London-based Onfido, a photo-based identity verification startup, raised $50m in a Series C round led by Augmentum Fintech, SoftBank and Salesforce Ventures in April 2019. This was the largest UK RegTech deal in H1 2019 and funding will enable Onfido to expand the reach of its technology so that people without a credit history can also access the online services.
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