LOCAL MARKETS : THE INVESTMENT LANDSCAPE IN WALES
Sarah Williams-Gardener , CEO at FinTech Wales , tells us how the Welsh fintech industry has been impacted by the broader investment landscape .
“ When it comes to fundraising , data from shipshape . vc suggests that Welsh fintechs need to be asking for more money . Looking at total demand for external capital , Welsh companies combined ask for 4 % which is significantly lower than a lot of the UK . Interestingly that includes the South West , which makes up 10 % of the UK total demand .
“ There is also evidence that suggests companies in Wales tend to ask for less funding at similar stages to the rest of the
UK , and there is , therefore , work to be done to instil in Welsh fintechs the confidence of their English peers when it comes to asking for funds , and in investors when it comes to looking further afield for the next biggest opportunities .
“ However , things were certainly looking up towards the end of 2023 with £ 53m raised in publicly-announced rounds by October . However , we must acknowledge that three large deals make up the majority of that funding .
“ We now want to see investments being made quickly and attract even more funding and investment into Wales .”