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Report reveals rise in fintech industry
Western Mail
|July 04, 2025
FINANCIAL and professional services firms employ 63,000 in Wales and make an annual gross value added (GVA) contribution of £6.1bn to the economy, new research from the sector representative body TheCityUK shows.
Its Enabling Growth Across the UK 2025 report also reveals that the fintech sector is on the rise, with Cardiff identified as a hub for innovation and financial technology, with numerous new startups emerging.
Welsh fintechs have seen more than a five-fold increase in investment between 2022 (£13m) to 2023 (£70m). The fintech industry now contributes around £1.6bn in GVA to Wales.
South Wales remains a strong base for financial and related professional services, with Cardiff and Swansea hosting over half (34,340) of the total headcount in Wales and the industry contributing almost one fifth of GVA in both cities.
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