Inside Europe’s tech hubs: Does London have what it takes to remain No.1?

The U.K. is the No. 1 country in Europe for tech by many accounts.

In 2023, British startups raised $21.3 billion, their third-highest total on record, according to a report from Dealroom and HSBC Innovation Banking.

It’s the No. 1 location in Europe for funding — with France coming in second, raising $9.2 billion last year — although it remains well behind the U.S. and China.

In the mid-2010s, the U.K., and London in particular, saw a boom of startups in financial technology, or fintech, given the city’s importance to the global financial services market. Since then, major companies across different sectors have developed, spanning food delivery to cybersecurity.