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London Is Still Leading Europe’s Fintech Industry

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Despite concerns over the aftermath of Brexit and the General Election in the UK, London has retained its crown as the fintech capital of Europe.

According to the annual Fintech50, 31 companies on the list are from London, up from 29 last year and 24 in 2015. The annual list is decided by leaders across, technology, finance and the fintech world, including from Microsoft, Silicon Valley Bank, Index Ventures, Santander and Samsung.

“FinTechs working with banks is a powerful trend, but there is also a new generation of innovators going direct to the consumer in areas such as insurance and financial management,” said Fintech50 founder Julie Lake.

“Noticeably this year, we saw an emerging evangelism for challenger brands from a very important source: their customers. They may not have (anywhere near) the customer volume of traditional providers, but they are winning hearts and minds in a style more often associated with consumer goods.”

Another 10 startups – six of them from the UK – have been named to the Fintech50 hall of fame. They include Transferwise, Zopa, WorldRemit and Funding Circle.

And a further 10 have been identified as up-and-coming “ones to watch”, again with six of them coming from London: Bud, Cleo, Datasine, Post Quantum, 10xBanking, the fintech consultancy founded by former Barclays chief executive Antony Jenkins, and ClearBank, the first new clearing bank set up in 250 years by WorldPay founder Nick Ogden.

 

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