London startups to take fintech unicorn crown from San Francisco
London is on track to become home to the same number of fintech unicorns as San Francisco, the world's current leader.
Out of the 29 fintech unicorns globally – companies with a valuation of more than $1bn (£765.5m) – nine are based in the Californian hub, while seven are housed in the UK capital.
Over a third of European fintech venture capital funding was invested in London firms in 2018, according to data from recruitment consultancy Robert Walters and market analysis firm Vacancy Soft. The report predicts London will catch up with San Francisco as early as this year.
At 39% the city had almost double the funding of runner-up Berlin, which took in 21% of total investment.
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