Germany's Fintech Sector Thrives With 74 Active Companies
Germany's financial tech (Fintech) sector is thriving, with 74 young companies active in the banking or extended financial sector, according to an exclusive analysis by Payment & Banking. The Start-up Association estimates around 300 Fintech startups, with 74 being exclusively German. Despite a slight slowdown in hiring plans, Fintechs remain robust and optimistic about their current business situation.
Fintechs in Germany are notable for their size and diversity. More than an eighth, or 13%, employ over 50 people, and a significant 67% have foreign employees on their teams, nearly triple the rate in other start-ups. On average, a German Fintech employs 34 people, double the number in other start-ups. However, hiring plans for next year indicate a slight deceleration, with Fintechs planning to add an average of four new employees, compared to the average of six among other start-ups.
In terms of business health, Fintechs are faring well. A substantial 42% of the financial start-ups surveyed by the Start-up Association reported their current business situation as good, outpacing the 35% satisfaction rate among other start-ups.
Germany's Fintech sector is flourishing, with a notable presence of large, diverse companies. Despite a slight dip in hiring plans, Fintechs remain confident in their current business situation, with a significant majority reporting positive conditions. As the sector continues to grow, it contributes to Germany's robust startup ecosystem.
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