London is the European Unicorn Fintech Start-Up Leader

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A recent study shows that London has become the European leader in Fintech unicorn start-ups. One unicorn start-up has been created every month for the past year. This achievement puts the U.K. behind USA and China as the third most successful country in the world for unicorns. 
This news comes ahead of London Tech week, which is happening this week from June 10 – June 14. London Tech Week is an annual event which brings together entrepreneurs from all around the world to discuss the future and today of the ever-developing technology. They call it the world hub for tech and innovation. 

Currently, the UK has 72 unicorn companies in total, and that puts Britain in the well-deserved third spot as the best ground for fintech startups. Additionally, London has 45 unicorn companies which is the biggest number in Europe cities. The closest rival is Berlin with 10 companies, and Paris and Stockholm with 9.

A Unicorn company is a private company which is valued at over $1 billion.

London has more FinTech Start Ups than San Francisco

Currently, 18 out of 45 unicorn companies in London are FinTech firms while San Francisco has 15. This comes as a game-changer as San Francisco has been the FinTech start up world hub for years. However, the San Francisco bay area has 31 more companies with a unicorn status. But if we compare the statistics in such manner, Britain also has at least 2 such companies in Oxford, Manchester, Cambridge, Leeds, and Edinburgh as well.

Moreover, the London FinTech start ups include such companies as Revolut, Monzo, Metro Bank, MoneySuperMarket, and Funding Circle.

Also, an interesting fact is that London has about 75 more upcoming companies that are “on the path to unicorn status”, says the research.

“Since 2012 the UK has produced as many unicorns as Israel, Germany, the Netherlands and Sweden combined,” the research adds.

The UK Also a Leader on Venture Capital Investments

It appears that the United Kingdom is a European leader on venture capital investments as well. They have a record $5 billion expected in the first half of 2019 alone. As part of the London Tech Week, the UK Prime minister, Theresa May will announce more than $1,2 billion of fresh investment from 13 tech companies. VMware, a software virtualization company which provides cloud computing and platform virtualization, will lead the charge with an investment of over $1 billion in the next five years.

While it seems like the UK is on a very strict path to digitalization, with loads of success, they still stay humble in regards to resting on their laurels. They are always calling for improvements in digital skills across all age groups. They are always hiring more young staff and particularly women into the digital economy.

“The UK continues to be at the forefront of digital transformation. At Microsoft, our work with start-ups and scale-ups confirms that the potential of the UK tech sector is growing daily,” said Cindy Rose, the chief executive of Microsoft UK. 

Source:

https://finance.yahoo.com/news/london-now-has-more-fintech-unicorns-than-san-francisco-050000854.html?_guc_consent_skip=1560163356
https://www.fintechmagazine.com/fintech/london-tech-week-uk-capital-leads-europe-fintech-unicorn-race

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The worlds first Multi-crypto ETP!

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This week, Switzerland’s leading stock exchange, SIX Swiss Exchange, will list the worlds first multi-crypto ETP (Exchange-traded product). A Swiss startup Amun AG backs it. Its index is HODL5, hence the five cryptocurrencies being tracked in it. The stock exchange itself is the fourth largest stock exchange in Europe with a market cap of $1,6 trillion. 

What’s in it?

Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) will be the HODL5. The index will be split up between these five cryptocurrencies. Bitcoin will cover more than 50% of it, whereas Ripple will cover 25,4%, Ethereum 16,7%, Bitcoin Cash 5,2%, and Litecoin 3% of the HODL5 index.

Amun AG

The German index unit of investment management firm VanEck is managing the worlds first crypto-ETP. Amun AG is a daughter company of Amun Technologies, based in Zug, Switzerland. However, Amun Technologies is a fintech company. It had announced in early September this year, their plans to introduce this crypto-ETP. The upcoming HODL5 ETP is organized in a way that it complies with the same strict policies that are required by the traditional ETPs.

Thomas Zeeb, the head of securities and exchanges at SIX said: “The existing system could be completely replaced by the digital exchange in about ten years.” Zeeb is convinced that blockchain-based digital exchanges will replace the existing ones, because “The moment that brokers, banks, insurance companies, and big asset managers see the cost advantages, they’ll move relatively quickly.”

What is an ETP?

An exchange-traded product (ETP) is a regularly priced security which trades during the day on a national stock exchange. ETPs may embed derivatives, but it is not a requirement that they do so and the investment memorandum (or offering documents) should be read with care to ensure that the pricing methodology and use (or not) of derivatives are explicitly stated. Typically, individual underlying securities, such as stocks and bonds, are not considered ETPs.

Source:

https://www.amun.com/en/
https://goo.gl/1rvdeh
https://goo.gl/FBHtDm
https://goo.gl/mpHjZo
https://goo.gl/cZKM7U

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