Blockhain and financial technology may be going German, with a vast amount of startups in these industries choosing to set up shop in Berlin.
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Brexit Forces Fintech to Berlin
Several startups in Berlin told Reuters that the German Capital is booming as a hub for financial technology. Berlin is currently home to over 70 fintech companies, while there’s less than half that number in the financial centre of Frankfurt.
The companies say usually Frankfurt is the attractive region for financial services, but lately, Berlin has been attracting all the fintech business. Talented specialists are lured in by affordable living and a great number of English-speaking residents. German fintech company builder FinLeap has promoted nine financial technology startups over the past two years and said it gets hundreds of applications a month. Ramin Niroumand, co-founder and managing partner at the fintech company builder FinLeap, told Reuters:
We’ve had more than 50 senior applications coming from London in the past six weeks.
SAP is Putting the Blockchain into Everything
Among the fintech businesses transforming the German industry are blockchain related projects that are