Top of the FinTech start up market list in Europe, London is a world-leader when it comes to global finance and technology. Between 2010 and 2015, London’s FinTech market received $5.4billion worth of global investment, which is 11% of all investments made into the sector.
London has established itself as a lucrative market in FinTech because its’ financial district is home to some of the biggest banks in the world. However, the Brexit vote could make this positive about London’s market less of a draw unless the UK ensures that we retain access to the single market – a key challenge for the government is to bolster confidence in the capital as an ideal investment base. Still, key figures have insisted that whatever happens with the EU, “the best founders and entrepreneurs build successful companies no matter the macroeconomic or political climate”.
As well as a rich business history and financial heritage, the British capital is popular with start-ups and established FinTech specialists alike because of its excellent infrastructure and easy access to skilled talent. The Financial Conduct Authority has also relaxed regulation to encourage growth in the FinTech sector, allowing businesses to test out new products and services without having to adhere to such strict rules.
The port past
The tech future
London has always been at the forefront of the new and exciting, and as a FinTech hub it is unrivalled. It combines incredible tech talent, steady investment and a regulatory environment well placed to support a growing FinTech sector. Add to this the fantastic links to Europe, the US and beyond and it’s easy to see why FinTech companies are thriving in London.”