Is the writing on the wall for the UK’s booming financial technology (FinTech) sector courtesy of Brexit? The UK’s financial services industry enjoys huge benefits from the passporting rights it is afforded by being based in a European Union member country. “So for starting up a new FinTech company, [London] is not the best place any more.”It’s a sobering warning. Along with the lending platform Funding Circle, TransferWise is the poster child of the UK’s FinTech movement. The company isn’t based in the UK because its founders are British – Mr Hinrikus and Mr Kaarmann are from another EU member state, Estonia.

Source: Forbes April 12, 2017 16:18 UTC