At the London Stock Exchange yesterday, 12 Canadian Fintech companies began an exciting 5-day trade mission across the UK as they look to set-up operations in the UK market. The trade mission marks another successful year so far for the UK fintech industry, which recorded a record level of investment into the sector in the first half of the year.
The delegation of companies visiting the UK led by the Department for International Trade (DIT), have collectively raised over half a billion dollars in venture capital and are actively looking to expand their operations overseas.
The trade mission will take place from October 21 -25 where businesses will meet industry and government to find support and explore opportunities to invest or set up in the UK.
Ranging from cutting-edge personal finance apps and wealth management solutions powered by AI, to venture financing and digital currency, these companies represent the best of Canada’s FinTech industry. The trade mission will give companies the opportunity to find financing, meet partners and potential investors, as well as find out what is required to set up operations in the UK in hubs such as London and Edinburgh.
“we are determined to make the UK the easiest and most attractive place for Canadian innovators to open and build their businesses.”
In London, companies will meet representatives from major banks including Barclays, HSBC and Santander, as well Founders Factory – a startup incubator. In Edinburgh they will have the opportunity to meet with FinTech Scotland, Scottish Investment Bank and the University of Edinburgh’s Data Lab, among others.
Graham Stuart, Minister for Investment at the Department for International Trade, said:
“The UK and Canada are natural partners in FinTech, and we are determined to make the UK the easiest and most attractive place for Canadian innovators to open and build their businesses.
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, welcomes foreign entrants to its market and, through its dedicated trade department, DIT, will continue to reach out to the world’s most exciting entrepreneurs and show them all that the UK has to offer.”
Marking the start of the trade mission, FinTech Connect—the UK’s largest FinTech trade show—announce today that they will be launching the first international spin off of their flagship London event in 2020, selecting Toronto as the first international host location.
The UK FinTech sector contributes GBP £6.6 billion annually to the UK economy, with overall investment in the first 6 months of 2019 reaching new heights with £2.3 billion in funding.
This is the second inward Canadian mission DIT has led for FinTech firms. The previous mission saw six Canadian FinTech companies—Sensibill, Kooltra, Zafin, OutsideIQ, RentMoola and Q4—each set up a UK base, creating 200 new jobs.