London leading the way for global FinTech headquarters
by Startacus Admin
More FinTech headquarters based in London than any other city according to report just published from Savills and flexible office specialist Workthere...
Good news for the economy today with the publication of recent research from Savills and its flexible office specialist Workthere which has shown that London has the most FinTech headquarters of any city in the world. There are currently over 1,000 global FinTech headquarters in the capital including companies such as WorldPay, Finastra, Monzo and TransferWise. New York and San Francisco come in at second and third on the FinTech headquarters list with other cities ranked including Singapore, Paris, Beijing and Mumbai.
The findings from Savills and Workthere indicate that London, New York and San Francisco are the epicentres of the FinTech world since they make up a combined 38% of global FinTech VC investment by volume so far this year. With 194 FinTech VC deals during the first nine months of 2019, London is topping the table, followed by New York at 164 and San Francisco at 123.
In terms of deal volume, the rankings changed slightly with San Francisco in the lead, followed by London and New York.
These cities are not alone in terms of FinTech investment though since there is also significant FinTech VC activity in several other cities including Paris, Berlin, Stockholm and Beijing.
One interesting point which the research has highlighted is the fact that the flexibility associated with serviced and coworking spaces has lent itself well to the nature of FinTech companies. Since these companies are often growing quickly, they generally need agile spaces in which they can expand and contract in line with their business’ needs. Consequently, a significant proportion of the FinTech companies that received VC funding this year are based in this type of workspace.
It would appear then that location location location really does matter - one way and every way!
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Published on: 4th December 2019
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