A common refrain in startup circles is how difficult it can be to secure funding, particularly for later stage businesses. But it seems this narrative may be over once and for all.
According to research from London and Partners, the capital’s promotional agency, UK tech companies have raised more in the first nine months of 2015 than the $2.1bn raised in the whole of 2014. Tech companies based in London did exceptionally well, raising $1.6bn so far this year, compared to the $1.3bn that was raised last year.
London and Partners’ data has revealed that since the launch of Tech City, VC investment into London tech companies has vastly increased, with over ten times more investments in 2015 than in 2010. In the last three months, tech companies in London alone have attracted $491m of VC funding, whilst across the UK firms have secured a whopping $775m.
It should come as no surprise that London’s fintech sector is one vertical that is currently booming, having netted $554m by September compared to the $487m raised throughout the whole of 2014. Another sector that seemed to be particularly successful in securing funding over the last three months is e-commerce. Some truly massive rounds have been completed in 2015: Deliveroo drew down $70m, Made.com netted $60m, Secret Escapes raised $60m and Prodigy finance received $19.5m. In total, these firms alone have raised $246m so far this year; this amounted to 50% of the funding raised in London this quarter.
Mayor of London Boris Johnson said: “As a global financial and technology powerhouse, it is no surprise to see that the capital is the jewel in the crown when it comes to venture capital investment in the UK tech sector. With record investment helping companies to flourish, access to top tech talent, world class universities and great transport links, there has arguably never been a better time to start, grow and scale a digital business in London.”
Eileen Burbidge, partner at Passion Capital and the mayor of London’s tech ambassador for the city, said: “In little more than five years we have seen investment in London’s tech sector increase tenfold. Even more importantly, we are now starting to see more later-stage investments that support the scaling of more London tech businesses. Today’s figures and the fact that London is home to more software developers than anywhere else in the world validate the fact that London’s tech sector is maturing and is one of the world’s leading tech hubs.”
Clearly then there’s never been a better time to secure investment for your tech startup. Better get your pitch deck ready. 
