TransferWise joins a roster of rising London tech stars, cementing the city as the global FinTech capital.
The government-backed Future Fifty scheme identifies and supports growing London tech businesses. TransferWise co-founder Taavet Hinrikus emphasised the importance of London FinTech receiving the right attention:
“In order to keep London as a driving force for both Fintech and innovation, it’s important to have good communication with the government. Tech City UK’s Future Fifty programme is helping startups like TransferWise to do just that.”
London's global FinTech dominance is reinforced in City AM:
"London’s booming FinTech sector has gone from strength to strength this year. More than half of all European FinTech venture capital investments made in 2014 went to London firms, according to London & Partners, a record $539m (£342.6m) and triple the amount raised in 2013.
The UK’s FinTech market is currently worth £20bn in annual revenue and over 44,000 people work in the sector in London alone – more than both Silicon Valley and New York."
The news comes as The Guardian tips TransferWise as one of their '20 Tech Innovations for 2015'.