The U.S., China and the U.K. are the best markets for financial technology firms planning to expand internationally, according to a March 21 report by London Stock Exchange Group PLC and financial lobby group TheCityUK.
A survey of more than 400 fintech companies from eight countries found that 72% of respondents plan to expand into new countries, with companies expecting to grow revenues by an average of 80% over the coming three years.
Britain was deemed the third-best market for fintechs looking to grow overseas, behind the U.S. and China.
Robert Barnes, who is the global head of LSE's primary markets division, said "these innovators need access to long-term growth capital and a supportive global regulatory environment. The U.K. offers both."
U.K.-based fintech companies expect to grow revenues by 88% in the next three years.