FinTech TransferWise to Move HQ Out of UK Due to Brexit
Brexit blamed – but it’s unlikely they company will leave the UK altogether
One of the London’s large FinTech companies is moving away from UK shores.
Valued at $1 billion, TransferWise is an international payments start-up that is relocating its European headquarters by March 2019.
While there hasn’t been any confirmation on definite reasons, it’s suspected that potential loss of passporting rights and foreign talent pools are the driving factors behind the move.
With Brexit negotiations still in process, it’s difficult to determine what percentage of the UK’s lucrative FinTech industry will move headquarters or open new offices in other European countries. Brexit Escape countries like Germany, France and Ireland are all reported by their CEO Taavet Hinrikus to be vying for TransferWise’s new corporate home.
Hassles that an international corporate relocation will be front and centre in the minds of the business leaders at TransferWise. At Saunders 1865, those hassles are our daily bread.
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