Grow VC Group memo and statement about brexit, fintech and digital finance

​The British voters indicated that they want the UK to leave the EU, and Grow VC Group and its companies carefully follow and analyze the situation. At this point it is impossible to make any detailed analysis, when we have no information what the relationship of the EU and the UK will be in the future. UK based finance services that have been a part of EU’s internal market, including the ‘passport’ model to be able to offer services in each EU country are unlikely to continue as is.

EU is a very important market, the world biggest common market comprising of 500 million people. That’s why we plan to invest more in the EU market and start more operations within the EU. At the same time we increase our activities in the US and Asian markets. In the near future we will announce two new operations in Grow VC Group. We are just in the final process to choose the locations and jurisdictions for those operations. We hope to see that the UK and London play a part as important finance and fintech hubs also in the future.

You can read more from Grow VC Group memos (in 5 European languages):
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• Brexit – what can we conclude for digital finance and fintech (Grow VC Group memo)
• Brexit and Fintech in Europe Beyond the Referendum Vote (Crowd Valley's memo)
• Brexit – 1ers constats et impact probable pour les ‘Fintechs’ (in French)
• Brexit, finanza digitale e fintech: le nostre conclusioni (in Italian)
• Brexit – welche Schlussfolgerungen können wir für Digital Finance ziehen? (in German)
• Brexit – Impacto y primeras conclusiones en las Fintech y los nuevos modelos de financiación digital (in Spanish)