Canadian fintech delegation announces new investments in UK

A delegation of 12 Canadian fintech companies that visited the UK recently announced new investments in the UK and revealed that the country tops in investment destinations for fintech.

According to the official release, three companies from the delegation have announced new investments in the UK and have created around 150 jobs with more commitment to expand in the future. The delegation mission was organized by the Department of International Trade (DIT) and offered an opportunity to showcase the strength of innovation in the UK’s financial centers.

“As a world leader in financial services, technology, and research, the UK is embracing and leading the way in new fintech developments. DIT has been able to offer these innovative Canadian companies the chance to come to the UK, to share ideas in this fast-changing industry and highlight that the UK remains open for business,” Mark Garnier, Canadian International Trade Minister said. “Canadian investment in the UK has doubled in the past decade to $86 billion (CAD), and fintech is a prime example of where collaborative working and sharing knowledge and expertise can foster further opportunity.”

The three companies that have announced investments in the UK are OutsideIQ, Q4 Inc. and, Zafin, among the delegation of 12 companies including CIBC, Control, Grow Financial, Kooltra, Horizon, Sensibill, Veriday, among others. These delegation companies were welcomed to the UK with a reception at Canada House. During their visit, Canadian visitors joined the Fintech Connect Live in London, an annual fintech showcase event.

“We are actively expanding our presence in London to better service a growing international customer base. The DIT - BA Fintech Mission provides a great opportunity to participate in a thriving ecosystem of companies, innovators, and technologies, particularly in the regtech sector. We are very proud to be among the innovative Canadian companies that were selected,” Dan Adamson, CEO of OutsideIQ, said.

Touring the Parliament and London Stock Exchange, the delegation team also met with the innovation teams at global banks including Lloyds, RBS, and Barclays in order to learn about their use of fintech to improve their operations.