November 23, 2017
According to MEDICI data, Germany’s FinTech landscape counts ~475 companies. While FinTech companies in Germany collected €400 million for the whole of 2016, the inflow of capital had already reached €307 million in H1 2017. The number of deals also went up, as did the average size of the deals, rising from €7 million to €7.3 million, Frankfurt Main Finance, the financial center initiative for Frankfurt am Main, reports.
The full market potential for FinTechs in Germany is estimated at €1.7 trillion (€380 billion in financings and €1.3 trillion in wealth management). Of this market, FinTechs are expected to catch relatively moderate €58 billion in 2020, €97 billion in 2025, and €148 billion in 2035 (base case), according to the International Comparative FinTech Overview published in June 2017.
The edition emphasizes that the regions of Berlin and Rhine-Main-Neckar (led by Frankfurt) in particular are consolidating their status as FinTech hotspots within Germany. In fact, in November 2016, the German federal government designated the Financial Center Frankfurt the digital hub for FinTech and financial services as part of their greater digital hubs initiative.
As part of the national IT summit in November 2016, the German federal government named Frankfurt one of five digital hubs across Germany. The Frankfurt digital hub focuses on the financial services and FinTech industries and is supported by Darmstadt, whose focus is ...