London becomes tech capital of Europe

Fintech investment has reached a record high in London, with an impressive £2.99bn venture
capital into the UK’s tech sector in 2017.

The expanding fintech scene has been boosted by London’s strong image as a safe choice for
diversified investments.

London left Paris, Berlin and Stockholm behind in the race for fintech capital investment as big
companies find the capital the best choice to operate from or expand to.

Investors are particularly attracted by the UK’s time zone, the language and the networks that the
London develops between big multinational business institutions.

The Mayor of London, Sadiq Khan, said: "Today's record investment figures are further proof that
London is the undisputed tech capital of Europe and I am committed to ensuring we take over
from Silicon Valley as the world's leading tech hub.

"Technology entrepreneurs and businesses are attracted to our great city for its diverse talent pool
and unique business ecosystem and I am determined that London remains open to investment and
the best tech talent from all over the world."

Whether it is fintech venture capital, residential property investment or lucrative commercial
leases, the capital tops the preferences of international investors.

According to Rob Kniaz, a founding partner of VC firm Hoxton Ventures “London is the place
US and global investors come as their first port of call. Being in London puts you in a
perspective that is a lot more worldly,” he said. That’s a real advantage.”

Much of London’s power over the international funds and those who manage them, is derived
from the City where essentially the biggest financial decisions globally take place.

For the UK to remain appealing to overseas investment, retaining and providing motivation to
international and EU talent is key.

Nevertheless, tech giants like Spotify, Google and Apple have evidently shown their commitment
to London with the opening of new HQs and new departments in the next 2 years.

Learn more about London-based HQs here

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