UK ATTRACTS RECORD LEVELS OF INVESTMENT
New data today showed a record amount of money flowed into the UK's tech sector in 2017 despite uncertainty for businesses caused by the ongoing Brexit negotiations.
Though a massive question mark still hanging over the Brexit process (in particular whether the government can secure a mutually beneficial trade deal for the UK), the country has remained as one of the most popular places in the world to invest, with London attracting the greatest share of the funding, particularly from venture capital firms.
British firms attracted almost 4 times more funding than Germany and more than France, Ireland and Sweden combined, according to a report in The Independent today.
London's Mayor Sadiq Khan praised the research from PR company London & Partners, saying "The UK remains one of the world's leading hubs for technology investors and it is no surprise to see that UK tech companies attracted double the amount of venture capital financing than any other European country last year".
Fintech was the leading sector for investment in 2017, with UK fintech businesses attracting a whopping £1.34 billion in VC funding, according to the report.
Amazon, Apple and Google were among the big-name firms to reiterate their support and long term commitment towards London. The latter announced plans to hire more than 3,000 new staff in the capital back in November 2016, when the Brexit process was even more uncertain than it is today.