Fintech leads UK tech hiring boom
The fintech sector dominates hiring activity among UK startups and scale-ups, according to a new report.
The research found that fintech firms accounted for 21 per cent of all UK companies recruiting for tech roles.
It also revealed that these companies added 2,127 new employees to their organisations within the last twelve months, outpacing other sectors in workforce expansion while solidifying the industry’s role as a key driver of tech growth in the UK.
Artificial intelligence (AI) followed closely behind, with 12.5 per cent of hiring activity, and 1,630 new roles created.
The rapid pace of hiring seen in fintech highlights sustained investor interest, while pointing to the sector’s resilience amid economic headwinds.
Fintech has seen explosive growth in recent years, fuelled by a demand for new payment platforms, digital banking, and alternative lending providers.
Amid this broader surge in hiring, the research reveals several standout firms.
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 continued to be a dominant force.
The digital banking platform currently employs over 10,000 people globally. It was also hailed as the most valuable British fintech firm in 2023, after reaching a valuation of £24bn after a major funding round.
In response to this gap, Rachel Reeves recently proposed high skill visas to attract overseas AI talent.
She told the world economic forum last month that the government plans to publish an immigration white paper later this year.
More broadly, the research also reinforced London’s dominance in the UK tech scene, with three quarters of the hiring firms based in the capital.
The City’s tech firms recorded a 23 per cent growth in headcount, significantly outpacing the 14 per cent growth rate in other regions across the UK.