London leads the way in European tech investment

(Image credit: Image source: Shutterstock/everything possible)

London's tech firms have attracted more venture capital in the first six months of this year than any other European tech hub, including Berlin, Paris or Stockholm.

This is according to a new report from the Mayor of London’s investment agency, which found that London’s tech companies raked in $3.26bn from January to June 2019.

That includes huge rounds from GoCardless ($73.53m), Starling Bank ($95.22m) and Onfido ($63.48m). At the same time, a total of 91 international companies decided to open shop in London, a venture worth just above $1bn.

Looking at the largest investments, Deliveroo and Checkout.com were leading the charge, with $559m and $223m, respectively. Transferwise became Europe’s most valuable fintech company.

“London is Europe’s leading tech hub and is helping to create even more jobs and investment for the capital and the wider UK economy. As our city’s tech ecosystem continues to grow it’s important that we encourage greater inclusivity and diversity across the tech sector and ensure that London stays open to investment and talent from around the world,” said Mayor of London Sadiq Khan.

“London Tech Week is a fantastic opportunity to demonstrate our city’s strengths to a global audience and I look forward to an exciting week of events.”

Prime Minister Theresa May will announce plans by global tech companies to invest a total of $1.5bn in Britain, Reuters reported.

“We want this to be the place everyone thinks of – and comes to – first when they want to develop their world-changing tech ideas,” May will say according to excerpts from her speech released by her office.

Image source: Shutterstock/everything possible