British tech firms leave Europe behind, report by Tech Nation and Dealroom suggests – The Times

British technology companies are on course to raise record funding this year, with the UK extending its lead over competing European hubs, research suggests.

Investors poured £13.5 billion into more than 1,400 private technology firms between January and June, more than the total investment for last year, according to a report by Tech Nation, the lobby group, and Dealroom, a data provider.

The figures were bolstered by large funding rounds at Revolut, the financial services app, Cinch, the car sales platform, and Hopin, the virtual events company.

Valuations of private technology businesses have risen sharply worldwide. Faced with record low interest rates, investors have been betting heavily on companies with the potential to upend large industries such as banking and healthcare. The

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