What you need to know about fintech in the UK

There are over 1,600 fintech firms in the UK, according to government figures, but only a handful of them have gone public.

The UK is adopting fintech at a much faster rate than the world average, but the market is still in its infancy and defined by fast-growing but loss-making businesses. An analysis by KPMG suggests it is not uncommon for fintech start-ups to remain in the red for the first five years, and it is not uncommon for them to be loss-making for longer – Funding Circle has been around for a decade but still isn’t making a profit.

Still, there have already been huge success stories for UK fintech, none more so than Worldpay. Having started out as a payment processing…