The UK continues to attract investors looking for fintech startups. Google UK managing director Dan Cobley is quitting the internet giant to head up his own fintech incubator and investment fund.
Cobley, who spent eight years at Google as head of European marketing and UK MD, is launching the fintech start-up incubator with Blenheim Chalcot and QED Investors. The Brightbridge Capital fund, rumoured to be worth £50 million, will be based out of Hammersmith in West London and overseen by Cobley, who has been named as the new company's CEO. Brightbridge said it wants to "invest in and build businesses that promise to redefine how financial services are delivered through the smart use of internet technology." But Cobley could end up competing with his former employer over deals after Google announced its own £58 million European start-up fund last month.