Hong Kong Fintech Company to Establish Operations in Edinburgh
Actelligent’s Edinburgh office will be its first UK and European base.
Actelligent’s Edinburgh office will be its first UK and European base, from which it plans to build a team of software engineers and architects to support the “continuing development” of its online platform.
Technical compliance and financial experts will also be brought on board to support analytical and research services.
The project follows efforts by SDI to encourage more Hong Kong-based companies to move to Scotland. The move will include £305,000 of Regional Selective Assistance (RSA) funding from Scottish Enterprise to support the creation of 20 new jobs in the fintech sector.
Commenting on the announcement, Actelligent CEO Charmaine Lo said: “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.”
Actelligent is currently developing an online platform that will act as a hub between investors, private fund managers and retail investors, as well as helping to connect investors with new opportunities in overseas investment markets.
David Leven, head of Greater China for SDI, said that Actelligent was attracted to Edinburgh due to its reputation as a blossoming global fintech hub.
“Today, Actelligent joins the growing list of fintech firms operating out of Scotland, having been attracted by Edinburgh’s growing reputation as an international leader in this field,” Leven said.
“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.”
Digital Economy Minister Kate Forbes said: “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.”