The FrankfurtRheinMain region in the heart of Germany is becoming the fastest-growing fintech hub in Germany. According to recent studies, the fintech sector in the region grew by 45 %, more than twice as much as the average nationwide growth in this sector (22 %).1 With close to 80 fintech startups, the greater Frankfurt region is quickly catching up with Berlin, which has roughly the same concentration of fintech companies. The FrankfurtRheinMain region attracts fintech companies as a result of its unique mix of the traditional banking sector and because it has the highest concentration of IT companies in Germany.
While there are more than 260 banks headquartered in Frankfurt and its surroundings, the city is also the only financial centre worldwide with two central banks – the European and the German Central Bank. With about 60,000 employees in Frankfurt and more than 530,000 employees in the metropolitan area in the banking sector, the financial sector is one of the biggest employers in the region.
What is also remarkable is the presence of a large IT cluster around the city of Darmstadt – located only about 30 minutes’ drive from Frankfurt. FrankfurtRheinMain boasts a perfect technical infrastructure and the world’s leading Internet exchange point – the DE-CIX with > 5.1 terabits/sec peak traffic (DE-CIX). The region is home to Germany’s highest density of IT companies, offering a network of software development, IT consultant, system integration and IT services specialists as well as the highest number of network providers worldwide (600+ participants at the peering platform). Various centres of excellence in IT business solutions & IT security and a highly qualified workforce make FrankfurtRheinMain the perfect destination for IT companies worldwide.
Fintech companies benefit from the strong presence of the IT and finance sectors in FrankfurtRheinMain and the availability of a highly qualified and motivated international workforce in the region. Furthermore, the fintech sector is also supported by the local government, which has started initiatives such as “Between the towers – FinTechCity Frankfurt” – a network dedicated to supporting start-ups and to building a strong fintech ecosystem in the region.
FrankfurtRheinMain is the ideal fintech hub due to its proximity to customers and the easy access to innovative networks like the Rhine Main Neckar Software Cluster. The city of Frankfurt am Main is leading the way internationally by setting up the “House of Finance” at the Johann Wolfgang Goethe University, an interdisciplinary research and teaching institute for law and economics.
The unique combination of the world’s largest Internet exchange, continental Europe’s financial centre, strict data security policies, political stability and economic potential make the FrankfurtRheinMain region the perfect destination for the fintech sector. The government-funded investment promotion agency FrankfurtRheinMain GmbH International Marketing of the Region offers complimentary support to companies planning to expand their business activities in the greater Frankfurt region.
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