A recent report reveals that the fintech sector is leading in hiring activity among º£½ÇÊÓƵ startups and scale-ups. The study found that 21 per cent of all º£½ÇÊÓƵ companies recruiting for tech roles are fintech firms.
These companies have added 2,127 new employees to their organisations within the last twelve months, outpacing other sectors in workforce expansion and reinforcing the industry's role as a key driver of tech growth in the º£½ÇÊÓƵ, as reported by .
Artificial intelligence (AI) was a close second, accounting for 12.5 per cent of hiring activity and creating 1,630 new roles. The rapid pace of hiring in fintech underscores sustained investor interest and demonstrates the sector's resilience amid economic challenges.
Fintech has experienced explosive growth in recent years, driven by a demand for new payment platforms, digital banking, and alternative lending providers. Amid this broader surge in hiring, several firms stand out.
Debt market intelligence scaleup 9Fin added 120 people to their team, while consumer finance startups Lendable and financing platform YouLend added 68 and 73 employees respectively.
Among the sector's heavyweights, Revolut continues to be a dominant force. The digital banking platform currently employs over 3,000 people globally and was hailed as the most valuable British fintech firm in 2023, after reaching a valuation of £24bn following a major funding round.
This news comes in the midst of a significant skills shortage in the º£½ÇÊÓƵ tech sector, which could hinder the government's efforts to supercharge AI to bolster the º£½ÇÊÓƵ economy.
In an attempt to bridge this gap, Rachel Reeves recently suggested the introduction of high skill visas to attract international AI talent.
Speaking at the World Economic Forum last month, she revealed that the government plans to release an immigration white paper later this year.
The research also highlighted London's supremacy in the º£½ÇÊÓƵ tech industry, with three-quarters of the hiring companies located in the capital.
Tech firms in the City saw a 23 per cent increase in staff numbers, significantly surpassing the 14 per cent growth rate in other regions across the º£½ÇÊÓƵ.
