Stockholm's FinTech Is Europe's No. 2 Innovation Hub

The next stop in our FinTech hub haul is in Stockholm as the Swedish city is considered to be one of the hottest FinTech hubs in Europe. Stockholm School of Economics, in collaboration with Stockholm Business Region Development, has performed extensive research on FinTech investments in Stockholm to find out that the year 2014 was a landmark year for investments in Stockholm-based FinTech companies. In total, $266 million were invested in 15 deals, accounting for 17.9% of the total FinTech investments of $1.5 billion across Europe.

According to the report, the amount of investment in Stockholm FinTech makes it the third-largest city in Europe by 2014 investment volume. Only London’s $539 million and Amsterdam’s $306 million are ahead of Stockholm. Germany’s total $82 million trails behind these three leading cities in a distant fourth place. Moreover, Stockholm’s 2014 investment volume alone was half of the past five-year total of $532 million invested in FinTech in the Stockholm region.

Commenting on the hallmark of Stockholm’s FinTech ecosystem, Olof Stenhammar, Nasdaq OMX, Founder of OMX, said, The Stockholm area is on the leading edge of financial services development. Don't forget that technology is not everything. You have to have the knowledge to succeed in this globally competitive sector, and Stockholm is at the forefront of knowledge development as it has built up extensive competence during the past 30 years.

The Nordic countries have produced more than half of Europe’s billion-dollar exits in the last decade. Sweden alone has accounted for half of the Nordic exit value.

Stockholm’s FinTech Ecosystem

The trading & banki ...

To continue reading, sign up for MEDICI Inner Circle and get free access for 30 days.
100,000+ FinTech professionals trust MEDICI Inner Circle to stay up to date on the latest in financial services.