by Marilia Assis (B-Hive)
The Fintech Safary in Berlin is taking place next week and B-hive's here to help you navigate the city's Fintech scene. Lass uns gehen!
Berlin is home to a creative and dynamic ecosystem. Yearly, roughly 44,000 new companies are founded in Germany's capital. The revenue generated by this vibrant ecosystem accounts to 11 billion euros annually, and cultivates over 80,000 jobs. Furthermore, according to a nationwide comparison, Berlin startups are multicultural, with 33.7% of their workforce constituting of foreign employees!
As reported by the latest publications published by German governmental agencies, Berlin is currently hosting over 200 fintech companies, reflecting their fintech-friendliness. The processes in place for starting and developing a business in the German capital are efficient and straight-forward, from the paperwork filed by immigration services, down to governmental institutions specialised in welcoming startups. You can even reach out to a Startup Support Helpline! Support is exactly what a startup needs, so well done Berlin!
We prepared a mapping of some of Berlin's most relevant fintechs, clustered by different sector verticals, which we hope you'll enjoy:
Already quite impressive, isn't? Furthermore, Berlin is home to a couple famous unicorns, such as the buzzing N26, a German direct bank that offers its services not only in Germany but also Austria, France and several other countries. Another upcoming star is Spotcap, that offers versatile funding solutions to SMEs in Spain, the Netherlands, the UK and Australia. To conclude, we can tell Berlin is showing the world how serious they are investing and taking care of their fintech sector, demonstrating that fintech goes beyond the hype within this ecosystem, and they're in the game for the long haul.
ps: Would you like to add a company on our map? Just send us an e-mail!
Deutsche Bank (2015): German Fintechs
and traditional banks: Friend or Foe?; Available online.
Ernst & Young (2016): German Fintech
landscape: opportunity for Rhein-Main-Neckar; Available online.
Berlin claims post-Brexit success in luring start-ups, Financial Times, 8 November 2016; Available online.
German Embassy Cambera. Report on Fintech. January 2017; Available online.