logo
logo

Successful fintech: UK has some, but it's not in Silicon Roundabout

avatar
Christopher Johnson
img

Beyond gongs and incubators: 'Fess up, Old St

Open up the business pages of any national newspaper and much of the coverage is focused on the latest fintech startup, the marvel that will transform the global financial system, backed – inevitably – by big name venture capital firms.

The results coming out of TechCity and other fintech-type hubs are much more modest – and less profitable – than the hype and exaggeration first indicated.

It is an extraordinary fact that it is almost impossible to find even one of the UK s incubated companies that has gone on the junior AIM market – whereas so many un-incubated startups have done so – although many have disappeared after trade sales.

Not one of the 100-plus companies invested in by super-entrepreneur Hermann Hauser since 1997 – who awarded his honorary KBE this week – was hot-housed.

In 2014 Ismail Ahmed, founder and LBS graduate, secured a £24m investment for WorldRemit, a global online money-transfer service he founded in 2009.

collect
0
avatar
Christopher Johnson
guide
Zupyak is a free content platform for publishing and discovering stories, software and startups.