London leads Europe as best city for investment with £15.4 billion windfall

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London has beaten all other European capitals for the top spot as being the most attractive city for fintech investment in Europe.  

London attracted over €18 billion (£15.4 billion) of fintech VC over the past five years, and is now home to several unicorn fintech companies such as Prodigy Finance, Revolut, LendInvest, SumUp and Landbay.

This is the second year running London has topped the European Fintech rankings and London’s €18 billion investment is far in excess of any other European city.

Berlin attracted €4.8 billion investment, Stockholm €4.3 billion investment and Paris €2.5 billion investment.

Mike Barnes, Commercial Research Associate at Savills said:

“The UK leads the way in Europe with 454 fintech companies and appeared second on a global basis behind the US.”

The report points to a number of unicorn fintech companies making London their home and adds the capital’s position as an established banking hub adds to the city’s attractiveness.

In addition, it highlighted London’s top universities, including King’s College, UCL and Imperial College London, helping to develop start-ups through accelerator schemes.

According to data from Crunchbase existing fintech clusters, proximity to like-minded companies and industry networking events are essential in developing fintech growth, which is reflected in the number of fintech companies located in each country.

The UK leads the way in Europe with 454 fintech companies and appeared second on a global basis behind only the US.

Spain (100), Germany (90) and France (64) also feature as countries with established fintech companies.

Paul Bennett, director in Savills central London tenant representation team, said:

“London’s talent base, companied with its wider financial ecosystem, continues to make it the location of choice for many of Europe’s most ambitious fintech companies.

“These companies have previously clustered in the traditional finance areas of the City and Canary Wharf, however as the sector has evolved they are now searching across central London to secure offices that will help them attract the best talent for this growing industry.”

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