Canary Wharf is now home to London’s most concentrated cluster of FinTech (financial technology) start-ups, according to new analysis by CBRE. The E14 postcode houses 13 of the 140 companies recently set up to develop and provide financial technology in London, many of these inside the Canary Wharf incubator Level39.

Perhaps surprisingly the second-largest cluster is found on the South Bank in SE1 where 11 companies have grouped together. The area benefits from attractive rents, amenable to tech start-ups, but remains close to London’s financial roots in the City.

The third, fourth and fifth largest clusters are all found within the City’s tech heartland, around Old Street’s Silicon Roundabout. There are currently 10 companies in this area near City University in EC1V, seven in EC2A, and another seven under the TechCity umbrella in E1.

Dan Hanmer, head of CBRE CreativeLondon, commented: “Canary Wharf has been an ideal home for FinTech start-ups hoping to stand on the shoulders of the financial giants in the area. There are similarly thousands of innovative businesses springing up around Old Street’s Tech City, so it’s little surprise to see three of the top five FinTech clusters in this area.”