In the last 12 months, Scottish financial technology (fintech) firms received more than £305m in funding, representing an increase of over 200% on the previous year.
More than 60% of this was raised by small and medium-sized enterprises (SMEs) focused on payment and data innovation, while wealth management solutions and financial regulation firms also made up a significant proportion of those receiving investment.
The latest figures compiled by industry body FinTech Scotland also showed that 2022 saw the number of Scottish fintech SMEs increase to 211 - up 13% during the year - driven by both new start-ups and international firms setting up in Scotland.
