Volution doubles-down on booming UK fintech with new $100M fund

The UK fintech sector is on a bit of roll. Allica Bank – a London-based fintech – recently announced it had doubled its profits in 2024, bringing in £29.9 million, while Neobank Revolut announced a £1bn profit in 2024. Companies of this nature continue to spring out of London, a city which has become a fintech global leader, partly because of its long financial heritage but also because it was a pioneer of Open Banking. There are now over 185 UK fintech startups valued over £1 billion, according to research from HSBC Innovation Banking. So it’s with that context that Volution, a UK-based VC investing in FinTech, AI, and SaaS startups, has launched a new $100 million fund. Launched in partnership with Japanese VC investors, SBI Investment Co., this will be Volution’s second dedicated fund following its first, which came in at $30 million. Volution said a “significant number” of Volution’s existing LPs recommitted to the new fund. Volution said it would aim at companies that have alr ... Read full article.