Founders warn London will lose fintech crown within five years

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Leading tech founders predict that London will lose its position as the global leader for fintech by 2024.

A new survey of 50 fintech founders suggests almost two-thirds believe that London is currently the leading global hub for the sector.

But the poll, conducted by the Digital Finance Forum, suggests that only one-third believe that the capital will still occupy that position in five years.

The survey, which received responses from founders of leading fintech firms including Crowdcube and iWoca, found that 69 per cent are concerned about the impact of Brexit.

Meanwhile 66 per cent want to see improvements to the UK visa system to make it easier for British companies to hire skilled tech workers.

Commenting on the report, Digital Finance Forum chair Christian Faes said: “The UK must not be complacent about being the world leader in fintech – and there’s definitely a feeling from fintech founders, as revealed through this survey, that this threatens to be the case.

“There is clearly an opportunity with the new government to make the fintech sector a priority again.”

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