"Manchester will become an increasingly important European destination for innovative financial technology businesses. It's ripe for growth. "
MANCHESTER is a leading destination for high-growth technology businesses including in particular the financial technology (FinTech) industry, according to boutique law firm Buckworths which has launched a new offering in the city.
Named “Corporate Law Firm of the year” for the past three years, Buckworths launched in London in 2011 and has quickly carved a niche advising primarily digital start-up companies on a fast track to growth. As well as commercial law the firm also advises fast growth firms on fundraising through angel investors and venture capital funds. The firm is well-known for its work in assisting 'disruptive' startup ventures from the ground up.
Michael Buckworth launched the firm after starting his career at international law firm Shearman and Sterling, before moving on to rival international firm Cleary Gottlieb Steen & Hamilton LLP.
· Mercury FX, an innovative foreign exchange provider at the forefront of blockchain research and technology for use in the new finvironment;
· Glownet, a high growth FinTech startup providing cashless payment systems for concerts and festivals;
· Coinfloor, the leading UK’s bitcoin marketplace; and
· Movidiam, the world's leading production network for the creative industries.
Mr Buckworth says its expansion to Manchester is a result of the increasing level of supportive infrastructure for high growth technology companies including collaborative working spaces, digital hubs and ready access to finance. The firm is recruiting a range of associates with specialisms in advising startup or fast growth companies and is already planning a series of events in 2017 to capture the imagination of the Manchester marketplace.
The growing volume of London-based startups and professional advisory firms ‘Northshoring’ offices and services to Manchester and also indicates an opportunity for growth.
Michael Buckworth, managing partner of Buckworths, said:
“Manchester will become an increasingly important European destination for innovative financial technology businesses. There’s no doubt that the existing infrastructure of the city is ripe for an explosion in the number of disruptive digital companies. Fintech companies are creating the blueprint for the way in which innovative startups can disrupt seemingly unmovable industries. The fact that more regulatory frameworks are being developed around fintech proves the point.
“It makes sense that we’re here in Manchester with its professional and financial community, digital hubs and growing reputation in this area. Direct flights to China also assist in making it attractive for Chinese investment.”
Buckworths will be based on King Street and launches with one partner and two associates.