London ranks number one in the world for the highest number of fintech headquarters.
According to a joint report from Savills and flexible office specialist Workthere, London hosts 1,000 finch headquarters, with companies such as WorldPay, Finastra, Monzo and TransferWise among those choosing to base themselves in the UK capital city.
In second and third place are New York and San Francisco, with 939 and 593 finch headquarters respectively. Other cities ranked in the findings include Singapore, Paris, Beijing and Mumbai.
The three clear epicentres of the FinTech world, London, New York and San Francisco, together make up 38 per cent of global fintech VC investment by volume. Within the first nine months of the year, London came out top by the number of fintech VC deals at 194, followed by New York at 164 and then San Francisco at 123.
Matthew Fitzgerald, Savills Director of Cross Border Tenant Advisory EMEA, comments: “As these early-stage companies grow headcount and become more established over the coming years, we expect to see them making the move from flexible to conventional offices and then major occupiers in their own right, as we have seen in London.
“We also expect FinTech companies to fill many senior positions by attracting talent from finance rather than tech, with all the workplace implications that come with it, as knowledge of finance in general and specifics about competitors will be hugely beneficial to some of these growing fintech companies.”
To read the full report, please visit: https://www.workthere.com/media/791337/global-fintech-report.pdf
Beavis Morgan – Specialist business advisers to the tech sector
At Beavis Morgan, we work with a number of entrepreneurs and startups, helping them set up and run their businesses, whilst navigating the challenges and advising them on making the right decisions both now and for the future.
Whether you’re a start-up or a well-established business, we understand that cash is king and managing its flow is crucial to your immediate and long-term success. That’s why our independent finance brokerage BM Structured Finance is readily available to assist start-ups source the right funding for their individual needs.
Research & Development (R&D) tax relief has also proved to be a major boost to British business and, with Brexit looming, it is now more important than ever that companies seek ways to unlock cash from innovation to help fund research and development into the ongoing enhancement of existing products and services.
Does your business undertake research and development? If so, speak to us today to set the benefits in motion. Our proven methodology offers a painless approach towards obtaining R&D tax relief.
For more information about how we can help you and your entrepreneurial business, contact Steve Govey at Beavis Morgan, Simon Belton at BM Structured Finance, or get in touch with your usual Beavis Morgan Partner.