This week, Canadian FinTech firms begin plans to set-up operations in London

Credits to: Pixabay

12 Canadian FinTech firms visited London this week for a five-day trade mission led by the Department for International Trade (DIT) as they plan to set-up operations in the UK. 

This positive development could offer hundreds of new jobs to young Londoners, contribute to growth in the UK economy and help to reduce fear surrounding international business prospects post-Brexit.

According to, Gov.UK, the trade mission took place this week where companies met with industry and Government to explore investment and UK set-up. This week’s trade mission marks yet another successful year for the UK FinTech sector with record levels of investment shown in the first half of this year. The UK FinTech sector contributes £6.6 billion annually to the UK economy.

This is the second Canadian mission DIT has led in the sector of FinTech, the previous mission created six new UK based set-ups which created 200 new jobs for Londoners. DIT is confident that the UK will continue to see such enterprise ventures coming to London. Gov.UK reported, Graham Stuart, Minister for Investment, commented:

“Trade missions like this allow us to show the strength and depth of the UK offer and encourage investment, market entry and partnership between UK and Canadian firms.

The UK is a global leader in FinTech and welcomes foreign entrants to its market. FinTech shall continue to work with the DIT to reach out to the world’s most exciting entrepreneurs and show them all what the UK has to offer.”

 

[1] FinTech- Technology used to support and enable banking and financial services. 

 

 

Words: Monica Young l Photo: Pixabay