London leads list of Europe’s hottest FinTech startups
A list of Europe’s hottest FinTech startups to watch out for in 2015 is dominated by those from London.
London’s place as a hub for FinTech startups is well and truly evident when looking at the recently released list of FinTech companies to watch out for in 2015, compiled by a panel of senior executives from sectors such as finance, investment and technology.
Mixed in among the list of 50 startups you’ll find nearly half of them (24) hail from the UK’s capital, where the vibrant FinTech community is enhanced by backing from a number of schemes, both government and corporation run, which are designed to boost the sector’s growth.
FinTech startups in London benefit from accelerators
London currently has four dedicated FinTech accelerators - Accenture, Barclays, Startupbootcamp and Dassault Systèmes. Between them, they have nurtured over 50 London startups.
“There is a great network of both public and private organisations working together in London to create a vibrant ecosystem and community to support FinTech companies,” Mariano Belinky, managing director of the Santander Innoventures Fund and a member of the panel, told City AM in an article.
“This network gives London a great advantage over other FinTech centres around the world, and I expect to see London maintain the momentum it has created,” he added.
Perfect environment in London for future FinTech firms
London’s environment for FinTech startups holds exactly the right mix of ingredients for a host of these new companies to grow, thrive and succeed. Therefore it’s really no surprise that almost half of the hottest European FinTech startups come from London.
Moreover, there should be further scope for these firms to build the right relationships and help each other navigate the tough initial years that budding companies face.
“The number of fintech accelerators in London reflects a convergence of forces at play,” said Greg Rogers, managing director of the Barclays Accelerator.
“A government that is pushing hard to support the ecosystem, a giant financial service talent pool that breeds the next entrepreneurs, and large banking incumbents like Barclays that are investing in and supporting the emergence of innovations.”