Three tech firms Mphasis, Constant Contact and Moonpay, are set to expand, invest and launch in London in the coming months, mayor Sadiq Khan has announced.
The Indian IT giant, US-based marketing firm and Miami-headquartered fintech have all unveiled upcoming plans to boost their presence in the UK capital.
Mphasis opened a new London office at Tower 42 in September, and will now look to double its UK business in the next three years, the mayor said.
While Constant Contact will announce its official launch into the UK in the coming weeks, and Moonpay is working with the mayor’s business growth agency London & Partners as it seeks to bring its crypto payment infrastructure firm to Britain.
City Hall says it comes after Khan visited New York City during the Labour Party conference, where the mayor said he would “bang the drum for London in New York”.
Khan also highlighted the £100m in investment deals for London throughout 2024 so far, which he said was a “record-breaking” total, amid wider economic downturn and uncertainty.
Nearly 10,000 jobs have been created for Londoners across 543 firms, in growth industries such as the green sector, tech and life sciences, over the last five years, City Hall added.
Khan said: “I’m proud that in 10 months London has already had a record-breaking year for investments – proving our city is one of the best in the world to start and scale a business.
“My message is that London is open: open to business, open to investment, and open to new and fruitful partnerships.”
And he said he was “delighted” to be attending the government’s inaugural investment summit on Monday, as ministers work “to forge new partnerships [and] reset relationships”.
Mphasis CEO Nitin Rakesh said he was “thrilled” to expand in London, calling it “a city that aligns with our vision of innovation and growth” and a “global hotbed for tech development”.
While Keith Grossman, enterprise president at MoonPay, said London boasted an “exceptional talent pool” with the UK “well-positioned to drive innovation in Web3 and fintech”.
He added: “We’re eager to expand our team in the area and expect to have over 100 employees by next year.”
And Frank Vella, CEO of Constant Contact said: “Small business has long been the engine that drives the economy, and London has long been a hub for small business innovation.
“By investing in London and the UK, we aim to empower small businesses with the tools and resources they need to market their businesses online… our commitment is to fuel their potential and foster a robust ecosystem where small businesses can succeed.”
Business and trade secretary Jonathan Reynolds said the UK’s mayors were “working with” ministers on Labour’s “pro-growth, pro-business, pro-worker economy” and called the new investment deals in London “the jewel in the crown”, adding: “This is just the beginning.”