UK Fintech - Growth Report 2022
With the majority of 2022 fintech Annual Reports now published, I can update the report about the Status of UK Fintech – Growth Rate (benchmark with 40 UK fintech players).
- Total revenues 2022 of £2.8bn;
- The median growth rate (revenues) of the Sector in 2022 vs 2021 is 55% (average 118%);
- Fintech players active in the lending to SME are the segment with the best revenues growth rate (including Starling + 140%, Tandem +286%, Zopa +130%);
- Infrastructure providers for open banking are not growing as expected and also overall, they have very low revenues;
- Mixed result on the wealthtech players, with cleoAI best in class (+192%) flowwoed by Moneybox (+101%), but several players with growth rate lower than 50% and highly unprofitable (including Moneyfarm and Nutmeg);
- Just 3 companies, Seedrs, Primary Bids and Though Machine, reported negative growth rate (note: for PrimaryBids and Though Machine the data are 2021 vs 2020).