Global tech investors look to London for international growthChristian Fernsby ▼ |
Britain London city
London is the top destination for international tech companies looking to expand or setup an operation outside of their own country, according to data, the first day of London Tech Week 2019, by London and Partners, the Mayor of London’s inward investment agency.
In the past year alone, 91 international tech firms chose to expand or setup an operation in the UK capital with total investments worth £864m more than the number of new tech investment projects in the likes of Singapore (79), Paris (46) and New York (32).
The findings from PitchBook also demonstrate London’s strength as Europe’s largest tech hub, with the research showing that the UK capital continues to top the chart for VC investment into Europe.
So far in 2019, London’s tech sector has seen significantly more tech investment than the likes of Paris (£990m), Berlin (£1.09bn) and Stockholm (£140m).
Global investors have shown a strong appetite for London’s fintech companies in 2019, with major funding rounds for some of the city’s hottest financial technology start-ups including: GoCardless (£57.91m), Starling Bank (£75m) and Onfido (50m).
Meanwhile, London headquartered international money transfer firm, TransferWise, became Europe’s most valuable fintech company following a £223m investment last month. ■
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