“The UK is still leading in terms of capital investment in fintech after the US,” Roberto Politano, Chief Marketing Officer at Innovate Finance, said when talking to Finance Magnates' Jonathan Fine at FMLS:24, adding that “in the first six months of 2024, the UK received $2 billion in investment in fintechs, which is more than all European countries combined.”
“Although it's still very positive now,” he continued, “looking into 2025, maybe this picture will change slightly. But we don't know yet.”
The UK is home to some of the global fintech giants, including Revolut and Wise. Revolut, with a valuation of $45 billion, is also the highest-valued fintech in Europe and is now seeking a banking licence in the UK.
“The US Still Remains One of the Largest Markets”
“Nothing stops founders from starting innovative projects and companies,” Politano added, stressing that companies must ensure their “presence in key markets” they want to tap.
“The US still remains one of the largest markets, if not the largest market for fintech,” he added. “So looking at the US, it would be some suggestions to founders to at least be present in that market if they think they want to go into that market.”
Politano has been with Innovate Finance for almost three years. He joined as the Director of Marketing and Public Relations and was then promoted to Chief Marketing Officer. He has been working in marketing-centric roles since 2004.
Advising fintech founders on ways to gain traction, Politano said: “Be unique in your proposition and make sure that you do your research before you launch a new product or service. Further, connect with other players in the market. Don’t be siloed too much into your own organisations.”
“The New UK Government Is Looking at Our Plan for Fintechs”
Innovate Finance is a fintech industry body in the UK. Its goal is to accelerate the country’s role in the financial services sector by directly supporting the future generation of technology-led innovators.
“Our role at Innovate Finance is to really make sure that we are the voice of UK Fintech and we support the success stories,” Politano said about the workings of Innovate Finance. “We work with the government and regulators to make sure that regulations are helping fintechs to start, scale, and grow in the country.”
He further highlighted that the UK government’s approach towards fintech is also “very positive.”
“The new government here is looking at our UK plan for fintechs, and they've been embedding some of our recommendations in their future plan for growth. Fintech is now even a part of the industrial strategy for the new government.”
