An abundance of tech talent, a responsive regulatory environment, and the kudos of being an international hub for financial services, have conspired to make London the fintech startup capital of Europe.
There’s also lots of cash. UK fintech firms secured $5.4 billion of the $49.7 billion of global investment in financial tech between 2010 and 2015, compared with the total $4.4 billion raised across the rest of Europe, according to research from Fintech Week London.
Towering over the European fintech competition/Photo credit: Pixabay
No wonder then that growing numbers of fintech companies are thriving in London, with the likes of foreign exchange platform Transferwise, Currency Cloud, and crowdfunding platform Seedrs, among the current ‘ones to watch’.
Other key drivers of London’s success include infrastructure and access to skilled talent, says Jason Purcell, CEO of specialist investment bank FirstCapital.
“Also significant is London’s access to pan-European, US and Asian investors, and the number of high-profile accelerator programmes in the Capital, plus strong government advocacy for fintech,” he says.
via www.forbes.com