Mayor announces record-breaking £100m investment deals for Londoners. International investment across the capital has created nearly 10,000 jobs for Londoners in industries of the future such as technology, life sciences, and the green sector in the last five years
London Mayor Sadiq Khan has announced over £100 million in new investment for the capital in 2024, defying global economic trends. Attending the International Investment Summit, Khan revealed deals from companies across the tech, biotech, and fintech sectors, underscoring London’s reputation as a top destination for business expansion.
Three major tech firms—Mphasis, Constant Contact, and MoonPay—have committed to expanding their operations in London. Mphasis, an Indian IT giant, plans to double its UK business over the next three years, while digital marketing platform Constant Contact will officially launch in the UK soon. MoonPay, a fintech company specializing in payment infrastructure for crypto, is also set to increase its presence in the city.
The Mayor highlighted these successes as part of a broader strategy to stimulate economic growth through the London Growth Plan. This initiative aims to create over 150,000 high-quality jobs by 2028, improve living standards, and drive a green economic transition. In addition, Sadiq Khan has committed £380 million annually to skills and career development, ensuring Londoners are equipped to thrive in emerging sectors.
The announcement comes at a crucial moment for the UK economy, with Sadiq Khan emphasizing the city’s ability to attract global investment. “London is open to business, open to investment, and open to new partnerships,” said the Mayor. “Our city remains a global leader in fast-growing sectors like AI, biotech, and fintech, and I look forward to working closely with the new government to secure more long-term investment and opportunities for Londoners.”
The partnerships were facilitated by London & Partners, the city’s growth agency, which has helped secure investments from over 543 companies in recent years, creating nearly 10,000 jobs. CEO Laura Citron OBE stressed the importance of actively courting investors, stating, “We target the most innovative companies and provide them with a world-class service to ensure their success in London.”
The announcement comes at a crucial moment for the UK economy, with Sadiq Khan emphasizing the city’s ability to attract global investment. “London is open to business, open to investment, and open to new partnerships,” said the Mayor. “Our city remains a global leader in fast-growing sectors like AI, biotech, and fintech, and I look forward to working closely with the new government to secure more long-term investment and opportunities for Londoners.”
The partnerships were facilitated by London & Partners, the city’s growth agency, which has helped secure investments from over 543 companies in recent years, creating nearly 10,000 jobs. CEO Laura Citron OBE stressed the importance of actively courting investors, stating, “We target the most innovative companies and provide them with a world-class service to ensure their success in London.”
Business Secretary Jonathan Reynolds praised the collaborative efforts, stating, “These investment deals in London showcase the results we can achieve by working together to provide global businesses with the certainty they need.”
Executives from Mphasis, MoonPay, and Constant Contact echoed these sentiments, highlighting London’s dynamic business ecosystem and supportive environment. Nitin Rakesh, CEO of Mphasis, said, “London is an ideal location for our latest innovation center, and we are committed to driving impactful innovation from this hub.”
As London continues to attract international investment despite a challenging global economic climate, the city is positioning itself as a leader in technology, finance, and innovation, setting a path for sustained growth and prosperity.
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