Aussie fintechs forge closer ties with London

Australian and British fintech start-ups, regulators and government bodies will look to deepen ties this week as ASIC chairman Greg Medcraft, Minister Assisting the Prime Minister for Cyber Security, Dan Tehan, and ASX deputy CEO Peter Hiom lead a fintech trade delegation to London.

The trip, arranged by the Australian British Chamber of Commerce with support from the Australian Trade and Investments Commission and UK Department for International Trade, will involve Australian-based startups including AgriDigital, Timelio, Neu.Capital, PayDock, Sharesight, Tradle, Splend and Edstart.

The group will visit the London Stock Exchange, Amazon and Level 39 in Canary Wharf, which houses more than 200 fintech companies. It will receive briefings from UK startup challenger banks Atom and Starling and hear about UK experiences with open data, cyber security and blockchain.

“The fintech startups that have been selected to attend are some of the best from across the Australian startup ecosystem and will do a great job of representing the success and strength of Australia as a leading global fintech player,” said Stone & Chalk-based venture capitalist Toby Heap, a co-founder of H2 Ventures, who will also be on the delegation.

“These startups were selected in part because of their desire to expand globally. Startups with global ambitions and can scale globally can deliver excellent return on investment to their early backers.”

Push for London as global fintech hub

Despite Brexit quelling some of the fintech momentum created by former chancellor of the exchequer George Osborne, Innovate Finance, a trade group for the UK global fintech community, is continuing to advocate for London as one of the global fintech hubs. Innovate Finance is planning on soon opening offices in Mumbai and Shenzhen.

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Source: Aussie fintechs forge closer ties with London | afr.com