TransferWise CEO: 'If I was setting up TransferWise today, I probably would not choose London'

Apr 13, 2017 · businessinsider.com

Transfere

The CEO and cofounder of $1 billion fintech startup TransferWise is calling for "action not just words" from the British government to protect the fintech industry in the wake of Brexit.

Speaking at the Treasury's first International FinTech conference in London on Wednesday, Taavet Hinrikus said: "If London wants to cement its position as the fintech capital of the world, it needs to take some action — action in particular."

Hinrikus spoke alongside Chancellor Philip Hammond and Bank of England governor Mark Carney, telling the audience: "I don't know any other country in the world where the Chancellor and the governor of the central bank have shared the stage with two startups. That's a pretty clear commitment.

"But in the tech world, we need action, not just words."

Worryingly for the government, Hinrikus said: "The world has changed a lot and I can't stand here and talk about having a business in the UK without talking about Brexit... If I was setting up TransferWise today, I probably would not choose London."

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