Even though Fintech keeps evolving, there are some countries that have prepared the ground for this industry to grow. There are several things that make some countries in the EU a fertile ground for Fintech. Furthermore, according to Statista, it is predicted that digital payments will become one of the largest segments in 2022.
The Fintech industry is expected to yield more than US$8,502bn. More so, it is likely that digital payment users may exceed 5,197m. You may need to keep reading to discover the best Fintech countries in the EU to invest your money.
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London
London is one of the cities in the EU that have the basic ingredients that make sure digital companies succeed. For the past 20 years, the UK has witnessed amazing growth in the Fintech industry. The growth has been across all aspects of the Fintech industry, like WealthTech, lending, RegTech, etc. Interestingly, London houses more than two-thirds of the Fintech industries in the UK. Fintech laws in London are accommodating and fair for the companies to operate.
Berlin
Berlin is among the top tech hubs in Germany. Also, Berlin has a lot of highly specialized ICT sectors, and the number of STEM students in this city is amazing. Most of the Fintech companies are developed by students from universities. In addition, the Fintech companies in Berlin focus on investment, asset management, etc. You will find startups that use coworking office space in Berlin. The Fintech policies in Berlin accommodate startups to grow.
Paris
Aside from being a beautiful tourist destination, Paris is slowly and steadily becoming one of the cities that accommodates Fintech. Furthermore, Paris is becoming a major player in the Fintech industry in Europe. Moreover, Paris has a favorable regulatory environment that suits Fintech startups. As a matter of fact, it has various programs that help Fintech companies to excel. Paris hosts many Fintech programs to help startups grow.
Barcelona
Do you know that Barcelona has a Fintech Hub? The Fintech Hub is designed to foster cooperation between startups in Barcelona. Also, with the well-established financial industry in Barcelona, building a Fintech company will be easier. In addition, Barcelona’s business environment boasts of high-yielding businesses, demographics, talent pool, etc. Compared to other cities, it doesn’t cost so much to set up a business in Barcelona.
Luxembourg
Amazingly, Luxembourg has a great business environment for Fintech companies to strive for. Not to mention, the policies and laws in Luxembourg accommodate Fintech companies. Not to mention, the business demography of Luxembourg is designed to help businesses grow. Like Barcelona, Luxembourg also has several programs that help Fintech companies grow. You can request for a meetup in Luxembourg with other experts to understand how their Fintech industry operate
Conclusion
If you want to set up a Fintech company in the EU, you can look towards starting in any of these cities. The five cities mentioned above offer programs that will help your Fintech company grow. Finally, venturing into Fintech is a good idea depending on where you choose to start up. Fintech has changed the traditional banking industry.
