UK fintech sector in buoyant mood as valuations soar

While British politicians squabble about Brexit, one group seems immune to the uncertainty hanging over the country: the new generation of financial technology companies that have sprung up in the past decade to challenge traditional banks.

The buoyant mood in the UK’s fintech industry was emphasised this week when Funding Circle, the country’s leading peer-to-peer lender, unveiled plans to raise £300m in an initial public offering that is expected to value it at more than £1.5bn.

The move highlighted how valuations for the new breed of fintech companies have soared over the past year as investors have bet that digital disruption will transform financial services, as it has across other sectors from retailing to media.

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