"The best fintech businesses are coming out of London," Jeff Lynn, co-founder and CEO at equity crowdfunding platform Seedrs, told CNBC. "It's where job and wealth creation is going to come from."
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In fact, many think the financial crisis – and subsequent reputational damage to banks – only served to bolster fintech's growth.
"The public was disenfranchised, frustrated and demanding better service," Claire Cockerton, deputy head of Level39 technology accelerator, told CNBC. "That environment of frustration and scandal was the birthplace of fintech innovation."
'Regulation stifles innovation'
An American, Lynn said he chose to set up shop in London – rather than in his home country – because of the favorable regulatory environment.
"The U.S. can be a very innovative place, but when it comes to fintech, regulation stifles innovation," he said.
American financial regulation has its roots in the 1930s, Lynn said, whereas the British system dates back to 2000. "It's significantly more flexible and adaptable," he said. "We couldn't do what we do in the U.S."
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In fact, Simon Devonshire, director at start-up accelerator and investor Wayra Europe, said London had led the way when it came to crowdfunding in particular.
"The determination and tenacity of those driving crowdfunding in the U.K. - despite a lack of clear regulation and heavyweight incumbents – has made it work," he told CNBC. "More so than in places like America, which you might imagine would be the home of it."