Hong Kong fintech firm Actelligent is establishing a UK and Europe base in Edinburgh, Scottish Development International announced today.
The project, which follows efforts to encourage more Hong Kong-based firms to locate in Scotland, will receive £305,000 of Regional Selective Assistance (RSA) funding from Scottish Enterprise to support the creation of 20 fintech jobs.
Actelligent is developing an online platform that will act as a hub between investors, private fund managers and retail investors and connect investors with new opportunities in overseas investment markets.
The company plans to make the Edinburgh office its UK and European base, from which it will build a team of software engineers and architects to support the continuing technical development of its online platform, plus technical compliance and financial experts to support analytical and research services.
David Leven, head of Greater China for SDI, welcomed Actelligent’s decision during a meeting with the company at its Hong Kong base: “Actelligent joins the growing list of fintech firms operating out of Scotland, having been attracted by Edinburgh’s reputation as an international leader in this field.
“We’ve worked closely with Actelligent since its first visit to Scotland in May last year, during which time we have made introductions to stakeholders such as Fintech Scotland, the Scottish Investment Bank, the University of Edinburgh, the Data Lab and TalentScotland.
“This is a great example of how SDI makes it quicker and easier for businesses to settle in Scotland, by making those all-important connections across the public and private sectors.
“Together with our colleagues at the Department for International Trade (DIT), we look forward to working with the team at Actelligent to support their ambitious growth plans for Scotland.”
Charmaine Lo, Actelligent’s chief executive, added:“We’re delighted to be the first fintech company from Hong Kong landing in Scotland with the help of SDI, and we have been overwhelmed by the level of support we’ve received.
“Edinburgh has a huge capital base and has always been one of the largest fund management hubs. This, combined with the availability of a skilled workforce and our ability to partner with the University of Edinburgh, one of the best universities in natural language processing and machine learning, made Edinburgh the natural choice for our new UK base.
“We look forward to expanding our business in the UK and becoming a member of the fintech ecosystem in Scotland.”
Digital Economy Minister Kate Forbes commented: “It is fantastic to see that Actelligent has chosen to set up an operational base in Scotland. As the latest fintech company to come to Scotland, this shows that we are quickly establishing ourselves as a global centre for this important sector.”