UK Treasury special Fintech envoy and partner at tech VC Passion Capital, Eileen Burbidge today took the stage at Fintech Week (14 – 20 September) www.fintechweek.com discussing the dominance of the UK’s Fintech sector globally.
“London and the UK will lead the Fintech sector”, she said in her opening statement. “It can’t be Silicon Valley, they have produced a few start-ups like Stripe but numbers are tiny compared to the UK.”
She pointed out that the “collaboration between the eco-systems finance, technology and government is unique to the UK and can’t be replicated in the US”. She continued: “Wall Street Talent doesn’t come to Silicon Valley.”
The government wants to support the UK’s advantage over other countries and is eager to increase competition in order to further innovation. Eileen Burbidge mentioned the 2007/2008 crisis which was due to having too few companies with too much capital. The government recognises this and is therefore supporting Fintech in order to create more banks and more firms disrupting the banking sector.
When asked as partner at tech VC Passion Capital which investment tips she has for the audience, Eileen Burbidge mentioned:
- Nutmeg, an online discretionary investment management company
- Ravelin, a fraud detection company for the on-demand economy
- Azimo, international money transfer company
- Funding Circle, the crowd-funding company
See full video of Eileen’s speech here: