Fintech dominates UK women led startup funding growth in 2022

By Daniel Lanyon on Wednesday 8 March 2023

Alternative LendingDigital BankingSavings and InvestmentCrypto

Half of the ten largest UK tech funding rounds came from the fintech sector.

Fintech dominates UK women led startup funding growth in 2022
Image source: Shutterstock

Tech startups in the UK with at least one women co-founder raised £3.6bn in venture capital funding last year, up from £2.9 bn in 2021, an increase of more than 20 per cent despite a fall in overall investment.

Overall, UK venture capital was down 30 per cent in 2022, compared with 2021.

Fintech was a bright spot for startups with at least one women co-founder.

Half of the ten largest deals went to fintech startups.

These include FNZ ($1.4bn), Lendable ($252m), Starling Bank ($157m), 5ire ($100m), and Cleo ($80m).

"I want the UK to be the best place for anyone - male or female - to start and grow a tech business, so it's brilliant to see female founded firms attracting more investment than ever before,” said Tech Secretary Michelle Donelan. 

“Together with industry leaders my brand new department will work hard to create the right environment for inspirational women to forge careers in the UK's thriving tech industry and help it reach new heights," she added.

Energy was the second largest sector for women founders behind fintech. The largest include Nyobolt (£50m) and Hydro Wind Energy (£44.5m).

Under 10 per cent (13 of 144) of the UK’s 144 tech unicorns have at least one woman founder.

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