The latest thinking, news and events from the world of Recruitment

Venture Capital Funding Gives UK Job market a ‘Well-Needed’ Boost

SHARE
,

London continues to be the most ‘investable’ city in Europe for venture capitalists – and Brexit shows no sign of slowing this down – claims new report from global recruiter Robert Walters and market intelligence firm Vacancy Soft.

In fact, in 2018 London attracted almost double the amount of venture capital funding (39%) for the fintech sector when compared with any other European city – Berlin (21%), Paris (18%), Stockholm (5%), Barcelona (4%), Amsterdam (4%), Zurich (3%), Copenhagen (2%) and Dublin (2%).

Chris Hickey, CEO at Robert Walters said:

“This boost to the fintech market resulted in a 61% increase in in job creation in London and an 18% increase in jobs outside of London in 2018 – making it the fastest growing sector in the UK.

“Whilst Brexit has no doubt been a concern and slowed down hiring levels somewhat within financial services, the fact that the UK has one of the best IT and banking talent pools in the world continues to be a big draw for investors.”

The growth of the fintech sector has been so explosive that London now has the second largest concentration of fintech start-ups. Of the 29 fintech unicorns* worldwide (*companies worth more than $1 billion), nine are in San Francisco, while seven are housed in the UK.

In fact, the UK’s fintech ‘unicorns’ had a combined revenue growth of 130% in the last 12 months – in monetary terms this was an increase from £77.1m to £177.6m revenue.

Chris Hickey adds:

“This is a positive story for the UK economy, and job creation across the board within the fintech sector has grown significantly.

“In fact, between 2017-18 job creation within fintech increased by 100% in HR, accounting, and business support roles, by 74% for IT positions, 48% in banking-specific roles, 40% in legal, and 16% in both insurance and sales.”

Download the report here.

SHARE

Posted by:

Over the past 3 years, Rachel has been working specifically within the digital marketing space and has worked with some of the country’s top brands. Drawing on her knowledge and experience, Rachel has developed a genuine understanding of how content can engage and compel an audience.

Rachel is responsible for every aspect of web management, marketing and overall production of the Recruitment Buzz brand and is often called upon for her skills and knowledge of WordPress, email marketing software and social media tools.

Rachel works closely with the Recruitment Buzz editorial team and certainly recognises a good story when she sees one!

Related Articles