A New Mission to Draw In Foreign Fintech Startups to the UK After Brexit Revealed

Photo by Michael Duxbury/Flickr

The United Kingdom is attempting to draw in foreign fintech companies after Brexit with over 50 startups that are set to head to London.

The government of the United Kingdom and institutions of the City is set to host companies from over 13 countries that are both from inside the European Union and outside the bloc, in a new bid to shore up the fintech sector.

It arrives as new figures revealed the United Kingdom attracted more investment into fintech startups compared to China in 2017. The $1.8bn of cash that is flowing in signified a record year that eased fears of a slowdown in the wake of the vote regarding Brexit.

The inbound trade mission that was organised by the foreign and commonwealth office (FCO) and the department for international trade (DIT), along with the City of London, Natwest, and London Stock Exchange will attempt to boost the status of the capital as a world-leading hub for fintech.

Next week, companies that are from over a dozen countries, that includes Germany, France, and  Israel are set to visit the United Kingdom, with one country being offered a six-month placement at the accelerator Entrepreneurial Spark of Natwest.