The UK’s technology sector has raised more than £2.4 billion in venture capital funding, according to figures by London & Partners (LP).
London-based tech companies raised £1.6 billion in 2015, representing a 69% increase on the £889 million raised in 2014.
Funding for London’s financial technology sector accounted for almost a quarter of all investment raised by London based tech companies.
Examples given were Funding Circle who secured the largest investment last year with a £103 million investment and online restaurant food delivery company Deliveroo who secured a total investment of £133 million.
Businesses have raised almost £6.8 billion in capital investment since 2010. Mayor of London Boris Johnson, said:
“Our world-class talent pool and our culture of innovation and entrepreneurial spirit are helping the sector to grow from strength to strength.
“We can expect the capital’s tech sector to continue to generate jobs and growth for the city’s economy for many years to come.”
Eileen Burbidge, partner of Passion Capital, added:
“With more investment coming in from overseas and greater access to London-based growth funds, there has arguably never been a greater time to start and grow a digital business in London.”