The UK’s technology sector raised more than $3.6 billion in 2015, according to figures from by London & Partners, the Mayor of London’s ‘promotional’ company.
The investment represents an increase of more than 70% on the record amount raised in 2014 ($2.1 billion). London-based tech companies raised a record $2.28 billion during the period, representing a 69% increase on the $1.3 billion raised in 2014.
Analysis of VC investment by London & Partners shows that since 2010 UK tech companies have collectively raised almost $10 billion with London-based companies accounting for more than half of the total ($5.2 billion).
Mayor of London Boris Johnson MP said: “With a flourishing tech scene and one of the world’s leading financial centres, it is no surprise to see that London’s tech companies are attracting record levels of investment. Our world-class talent pool and our culture of innovation and entrepreneurial spirit are helping the sector to grow from strength to strength.
London’s booming FinTech sector has also continued to secure record funding during 2015. The sector accounted for almost a quarter of all investment raised by London-based tech companies. Some of the largest FinTech deals this year include: Zopa ($106m), TransferWise ($58m) and WorldRemit ($100m).
In April 2015, London-based peer-to-peer lending company, Funding Circle secured the largest single deal of the year with a $150m funding round led by DST Global. Last year was also a strong one for the UK’s ecommerce sector, with a number of companies featuring in the top ten deals including: FarFetch ($86m), MADE.com ($60m) and Secret Escapes ($60m).
Investment into London’s technology sector has been boosted by a growing number of venture capital houses choosing to setup funds and operations in London. In October 2015 Octopus Ventures announced a $140m London based fund, joining the likes of Passion Capital, Index Ventures and Hoxton Ventures who already have a presence in London and have chosen the capital as a strategic base to invest in European technology start-ups.