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Three-quarters of UK fintechs criticize lack of government support during the pandemic - Business Insider

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Lack of government aid is creating an uneven playing field in the UK, where only larger fintechs can capitalize on rising fintech adoption

by fintech network and lobbying group Digital Finance Forum believe the UK government has done enough to support the fintech sector during the coronavirus pandemic. Over 100 fintech founders responded, and 65% were small businesses with 50 employees or less.Business Insider Intelligence

The lack of government aid is all the more harmful to smaller UK fintechs amid the drop in private funding.Thirty-seven percent of respondents said they could not qualify for a government loan. The Coronavirus Business Interruption Loan Scheme (

 

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