We have listed some of the reasons why you should look at London when it comes to scaling your fintech business.
Customers at your doorstep
Several of the world’s largest banks, including HSBC, Barclays, Lloyds and Standard Chartered, are headquartered in London – and all experimenting with fintech in one way or another. All of these players have accepted that they will need to work with fintechs to survive.
World-class accelerators and incubators
London offers a wide range of world-class accelerator programmes. One of the first dedicated accelerators for fintech startups in the UK, Barclays Accelerator, lets companies use exclusive Barclays data and technology. Another leading accelerator, Startupbootcamp Fintech, has partnered up with MasterCard and Lloyds Bank to provide exposure, APIs and a network of professionals for early stage fintechs. There are also workspaces dedicated to fintechs, including Level 39 in Canary Wharf. Companies that are part of such programmes and incubators, are significantly more likely to secure investment and gain a competitive edge through the support and mentorship they receive.
Availability of business capital
An enormous amount of fintech investment in Europe is channelled into London. The sector is well served by angel investors, many of whom have worked in financial services and have the required skills and experience to understand fintech, and are excited by the market opportunities.
A supportive regulatory environment
There is a highly favourable environment for businesses and those who invest in them. In addition to the growing diversity of sources of finance, such as crowdfunding and peer-to-peer lending, there are schemes and incentives to help companies of all sizes funding.
If your business meets certain criteria, it may also qualify for help with business rates or tax relief for Research and Development. Find out more here.
For more information, please contact:
Innovation Norway, United Kingdom
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