But ... WHY?!
'There's a sharp funding decline, boss.'
Yeah, yeah.
*Interview Opportunity Available*
Er ... I don't want to be interviewed, thank you very much.
'You're a man of mystery.'
Fuckin A I am!
Anyway ...
Hi Michael,
Hello!
I hope you're well and find the following of interest.
The London Stock Exchange (LSE) is backing a new review into the rise and fall in funding and valuations in the fintech industry over the last few years. This comes after record investment in 2021 was followed by a sharp decline in fintech backing this year, as worldwide inflation and a looming economic recession have resulted in a reduction of IPOs and a stock market rout, making it harder for firms across the UK to raise funds. In turn, this is heavily affecting companies across Britain, with new research from leading investment banking platform, JPIN, also highlighting that 26% of workers feel the lack of tech talent is holding back business growth. Whilst the "ground-breaking" review aims to address the issues permeating the fintech industry, Nayan Gala, industry expert and founder of JPIN, explains that firms must - and are already beginning to - look beyond the borders Britain.
Oh.
Some of the world's most influential emerging markets could be key in providing pockets of capital to ultimately help and transform the UK's flailing fintech sector in a post-Brexit world. The United Nations Conference on Trade and Development's 2022 World Investment Report has revealed that flows of Foreign Direct Investment (FDI) to developing economies rose by 30% - the highest level ever recorded - largely due to contributions from Asia. The fintech sector in these developing economies is likely to have seen a transformation due to this boost in global investment. For instance, Nigeria's fintech sector has experienced rapid transformation in the last decade after attracting pools of funding from the US and Asia. This resulted in the country experiencing a record year in 2021 with a total of over $1.6bn invested in the country - a third of which came from US-based VC firms. Thriving private wealth vehicles of countries further afield are -
Okay, okay. That's enough.
'I was getting interested in that!'
Yeah, well, we're going to Nayan now ...
Nayan Gala, founder of JPIN, explains why Britain's fintech sector should embrace international funding opportunities:
"Looking further afield for funding opportunities is becoming increasingly important, especially given what the global market has been through over the last two years. Trends of international investment are already here and prove vital in providing opportunities to scale up. Pret A Manger's expansion to India is a great example of this, and I expect to see many companies in the fintech sector also looking to both expand and source investment from Asian countries in the next few years."
Okay.
"With The Thing and general economic uncertainty having created a unique and arguably challenging landscape Britain's fintech sector, India presents itself as a key driver in providing a sufficient means of capital for firms looking for opportunities to scale up."
Eh?! Arguably challenging landscape Britain's fintech sector?
"India's record-breaking quarter for M&A activity clearly illustrates the country's wealth in investment opportunities. As one of the leading hubs of IT and technology, I expect to see an increasing number of startups turning East in search of funding opportunities that can assist with their scale-up efforts in such a bleak socio-economic landscape."
Right. Thanks, man.
Well, that wasn't too painful.
ENDS
'No!'
What, Voice?
'Let me interview you, boss - for your fans, like.'
Ha!
Forget about it!
ENDS
ENDS
ENDS
