The 11 biggest fintech investments in London so far this year

Eileen BurbidgeEileen BurbidgeThe government’s fintech envoy Eileen Burbidge.

Financial technology, known as fintech, is a boom area for businesses and investors right now, and Britain is leading the way in Europe.

London’s pedigree in finance has combined with the booming technology scene of the last few years to turn the UK capital into a petri dish for financial innovation.

Eileen Burbidge, the government’s fintech envoy, told Business Insider: “The UK is emerging as the fintech centre of the world and London is the jewel in the crown of the UK’s fintech success story.”

Total investment in London-based fintech companies so far this year has already hit £357 million ($US554 million), according to London & Partners, the organisation set up by the Mayor’s office to encourage investment into the city.

That’s already higher than 2014’s total of £314 million ($US487 million), according to figures London & Partners obtained from CB Insight.

London & Partners and BI have compiled a list of the 11 funding deals in the sector above £10 million — check them out below.

11. Seedrs -- the crowdfunding platform raised £10 million in July

Seedrs co-founder and CEO Jeff Lynn.

Investment: £10 million ($US15.6 million), July.

Who invested: Woodford Patient Capital Trust, Augmentum Capital.

Company value: £30 million ($US46.4 million).

What it does: A crowdfunding platform that lets people invest in startups. Tennis star Andy Murray is an advisor and has been investing through the platform.

10. Currency Cloud -- the cloud-based money transfer company raised £11.3 million in June.

Currency Cloud
Currency Cloud CEO Mike Laven.

Investment: £11.3 million ($US18 million), June.

Who invested: Sapphire Ventures, Rakuten FinTech Fund.

Company value: N/A.

What it does: Cloud-based international money transfer software. It's used by many of the companies on this list, including TransferWise, Azimo, and WorldRemit.

8. iwoca -- the online small business lender raised £12.9 million in July.

iwoca
iwoca's co-founders Christoph Rieche, left, and James Dear.

Investment: £12.9 million ($US20 million), July.

Who invested: Commerzbank, Acton Capital Partners, Redline Capital.

Company value: Hundreds of millions.

What it does: Balance sheet lending to small businesses. iwoca's online platform plugs into hundreds of data points to give business' quick decisions on whether they can lend to them. Loan volumes grew 250% in the year to June.

6. Azimo -- the mobile money transfer company raised £12.9 million in June.

Azimo
Azimo staff.

Investment: £12.9 million ($US20 million), June.

Who invested: Balderton Capital.

Company value: £64.4 million ($US100 million).

What it does: International mobile money transfer. Facebook once offered one of the company's co-founders $US10 million to become director of business development, according to the FT.

5. RateSetter -- the peer-to-peer loans platform raised £20 million in March.

RateSetter
Rhydian Lewis, RateSetter CEO.

Investment: £20 million ($US31 million), March.

Who invested: Woodford Investment Management, Artemis.

Company value: £150 million ($US232 million).

What it does: Peer-to-peer business and consumer loans. Since launch in 2010 the company has funded £790 million ($US1.22 billion) worth of loans.

4. LendInvest -- the peer-to-peer mortgage platform bagged £22 million in June.

LendInvest
LendInvest co-founders Christian Faes and Ian Thomas.

Investment: £22 million ($US34.2 million), June.

Who invested: Beijing Kunlun.

Company value: N/A.

What it does: Peer-to-peer marketplace for short-term mortgages. The startup has financed £390 million ($US604 million) worth of mortgages in just 2 years.

3. TransferWise -- the international money transfer company raised £37.4 million in January.

TransferWise
TransferWise founders Taavet Hinrikus, left, and Kristo Kaarmann.

Investment: £37.4 million ($US58 million), January.

Who invested: Andreessen Horowitz, Valar Ventures, Index Ventures, Seedcamp.

Company value: £640 million ($US1 billion).

What it does: An international money transfer platform that uses elements of peer-to-peer to match you with users sending money in the opposite direction. The platform is transferring £500 million ($US775 million) a month and has transferred £3 billion ($US4.6 billion) to date.

2. WorldRemit -- the international mobile money transfer startup raised £64.8 million in February.

WorldRemit
WorldRemit founder and CEO Ismail Ahmed.

Investment: £64.8 million ($US100 million), February.

Who invested: Technology Crossover Ventures.

Company value: £320 million ($US500 million).

What it does: Lets people send money internationally to mobile wallets, specialising in serving emerging markets. The startup recently named 23-year Silicon Valley veteran and former Skype executive
Gabriella Poczo as its chief technology officer.

1. Funding Circle -- the peer-to-peer lender raised £97 million in April.

Funding Circle
Funding Circle CEO Samir Desai.

Investment: £97 million ($US150 million), April.

Who invested: DST Global, Baillie Gifford, BlackRock, Sands Capital, Temasek.

Company value: £640 million ($US1 billion).

What it does: Peer-to-peer business loans in the UK and US. The company is currently lending around $US100 million (£64.8 million) a month over its platform.

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