Europe is enjoying a phenomenal period of fintech activity, interest and investment.
Weekly Leading Article
For years naysayers across Europe have argued that London’s title as the fintech capital of Europe was time-limited.
Surely the rival financial centres of Berlin, Paris, Stockholm or even Lisbon all stand a chance at claiming that crown? Especially in the wake of the UK’s controversial decision to leave the European Union?
Now that debate will likely rumble on for years to come, but proponents of the EU have a host of new evidence to support their argument in recent weeks.
Yes, London had its own fintech excitement last week with JP Morgan’s acquisition of Nutmeg in a deal said to be worth £700m, yet this deal seems somewhat small-scale given the action on the continent right now.
True, London—or the UK more broadly—has more fintech unicorns than the rest of Europe combined and is still far out in the lead when it comes to raising VC cash.
Unlike the 2010s, however, the steady drumbeat of fintech progress is now happening well beyond the boundaries of the Square Mile.
London, you are on notice.
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