Because London is the fintech capital of the world
London overtakes New York and San Francisco to become the fintech capital of the world. All the numbers in Daniele Meloni's article
London is the FinTech investment capital of the world. A report by Dealroom , the global start-up evaluation platform, highlighted the overtaking of the British capital on the American New York and San Francisco. Apparently Big Smoke remains the most fertile ground for innovation and financial services despite the current difficulties of the UK state in fighting inflation – which is in any case below the Italian one – generating economic growth and keeping the public debt anchored to principles of fiscal responsibility.
WHAT THE DEALROMM REPORT SAYS ABOUT FINTECH INVESTMENTS IN LONDON
According to Dealroom , in 2022, London attracted 7.8 billion investments in FinTech -related venture capital , thus surpassing the two American metropolises standing at 7.4. The data is particularly relevant because, it seems, the English capital manages to manage its strengths better than any other metropolis: a developed financial services system and a high-tech sector that makes it a world leader in payment procedures digital and online banking services.
Indeed, according to the publication taken up by the London newspaper The Evening Standard , London is apparently starting to attract human capital fleeing the Silicon Valley layoffs, and creating new jobs.
LONDON ATTRACTS “UNICORNS”
No one in Europe is like London for those who work in the "unicorns", the start-ups valued at over 1 billion dollars. The 27 unicorns operating in London have generated the highest number of ventures , 168, most of which come from FinTech . Paris and Berlin would be relegated behind the British, with 22 and 24 local unicorns respectively.
WHAT FUTURE FOR LONDON
However, the good news for the City and the innovators did not end here: according to a survey by Lloyds Bank of the top 100 UK investment banks, there is a common opinion that London will maintain its role as a global financial center despite the uncertainty about the new rules imposed by Brexit and the exit from the European Common Market.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/innovazione/londra-capitale-fintech/ on Mon, 09 Jan 2023 10:47:24 +0000.