London continues to dominate the world of financial technology with more than half of the hottest fintech startups located in London.
Of the 50 startups to make the Fintech50, a comprehensive annual list of the best new businesses disrupting finance and chosen by leading venture capitalists and top tech execs, 29 were spawned in London.
The newly published list names finance provider Iwoca, peer-to-peer mortgage lender LendInvest and Neil Woodford-backed lender RateSetter among the 29.
“2016 marks a pivotal point at which big banks and traditional financial institutions are starting to collaborate more closely with the industry’s newest players," said founders of the Fintech50 Julia Lake and Nick Cotter.
“London fintechs feature in just over half the list – in part due to the UK’s favourable regulatory environment as well as access to funding and talent. But London’s status is also being very energetically challenged by fintech communities in capitals such as Amsterdam, Berlin and Stockholm.”
A further two startups on the list – Bitnet and Contego – make the list from the UK.
There were also 10 companies – six of them from London – recognised in the first fintech hall of fame for their staying power at the forefront of fintech.