A survey conducted by Innovate Finance and EY for the Treasury has found that startups are remaining upbeat with regards to securing funding.
A poll of 254 firms operating within the Financial Technology sector, found half of those surveyed are anticipating their next dose of funding to be over £2 million and a third are awaiting an IPO within five years. The two most prominent regions for expected growth are Europe and North America.
One challenge faced by FinTech executives is the recruitment of talent. A large portion of those surveyed felt the most difficult skills to find in potential employees would be software development and coding, closely followed by product and sales; a blend of skills that are essential for any FinTech company to grow and conquer.
Stephen Barclay, economic secretary to the Treasury said: “Fintech is saving millions of people time and money by transforming how we use financial services. The FinTech census shows a thriving sector and we are committed to ensuring that the UK remains the best place in the world to start and grow a FinTech business.”
Read the full story in Finextra:
Despite Brexit, the UK's fintech firms remain bullish on their prospects, with half expecting revenues to double over the next 12 months and a third even anticipating an IPO within five years, according to a survey for Her Majesty's Treasury.
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