A number of U.K. fintech start-ups have raised considerable amounts of capital this year.
One firm, Revolut, raised $66 million in a funding round in July. The digital banking alternative then topped up this investment with an additional $5.3 million just over two weeks later.
Revolut’s equity crowdfunding campaign was apparently so oversubscribed that 40,000 investors — including tennis star Andy Murray — committed more than $22 million to the start-up.
Revolut’s CEO Nikolay Storonsky said that access to capital and London’s financial regulation were among the factors that made it possible to scale his business.
“In just two years, Revolut has raised over $90 million in investment and attracted over 900,000 users,” Storonsky said in a statement Thursday.
“There is no doubt in my mind that a large part of our success is down to choosing London and the U.K. as our headquarters and home.”
Mobile app-based Starling Bank, meanwhile, has said it looks to raise $54 million from investors to drive expansion into international markets.