The number of start-ups settling in Frankfurt has more than doubled over 2014. As a result, the banking capital on the Main can now boast the largest growth in Germany.
Although for many years almost all FinTechs preferred Berlin as a location, Frankfurt is now catching up, as the Portal Internet World Business reports. Experts see Frankfurt’s increased commitment and support for the start-up companies as the main reason. “Frankfurt invests a great deal, not only from the public purse but above all from the private sector as well,” says Remigiusz Smolinski, for example, an innovation expert at the Commerzbank subsidiary Comdirect. Peter Barkow, whose consulting firm draws up and maintains the FinTech Money Map database, adds: “The banking sector has long been very sluggish.” That’s the reason why almost all FinTechs have been going to Berlin for a number of years, he points out. “The start-up ecosystem has only recently crystallised in Frankfurt.”
The state-supported TechQuartier hub in Frankfurt is meanwhile regarded as a central point of contact and focal access point for the FinTech Scene.