Tech companies in the UK have gotten more investment in the last two years than the next three countries combined. This is according to a new report from London & Partners, published ahead of London Tech Week.
It says that the UK continues being the leading European destination for international tech investors – with more than £5 billion in VC funding since 2016. Germany (£2.15bn), France (£1.55bn), and Sweden (£644m), combined – didn’t have that sum.
The biggest reason for this difference is the fact that London has a high concentration of world class tech companies. Just the UK’s capital alone has attracted more than £4 billion in investments, ahead of places like Paris (£1.14bn), Berlin (£814m) and Stockholm (£542m).
Among the biggest deals, the report singles out TransferWise (£211m), Monzo (£71m) and Revolut (£177m).
The Mayor of London Sadiq Khan said: “London is the undisputed tech capital of Europe and today’s figures offer further proof that London remains a leading global tech hub for investors. With world-class universities and a diverse international talent pool, London is a centre for creative energy and innovation.”
“London’s tech sector is an important source of jobs and growth for the city’s economy and it is vital that we continue to ensure that we can attract the very best talent and investment from all over the world in the aftermath of Brexit.”
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