According to Statista reports, FinTech total transaction reached US$3,300,958 million in 2017 alone. here Best 10 Countries to Launch a Fintech Startup.
1- United Kingdom
One of the fastest growing sectors in the British economy, Fintech startup is reported to generate over £20 billion annually and engages more than 60,000 people. FinTech effectively combines the spheres of finance and technology. With the world’s highest concentration of financial institutions across banking, insurance, and asset management sectors. London offers an exceptional platform for FinTech solutions.
This is all thanks to its strategic location, strong policies, asset management sectors, insurance, banking, friendly regulatory environment, and some government programmes that support fintechs. Besides, a good talent pool with financial expertise and availability of capital for early-stage investment make the UK the best market for up and coming fintech startups.
2- New Zealand
it has been rated as the most transparent and least corrupt country by Transparency International, thus proving to be a great market for Fintech startups. Besides being a free market economy that can compete globally, New Zealand’s economy also offers low-interest rates to stimulate the business segment of the country. In an effort to make the market more investment-friendly, last year New Zealand cut its corporate tax rate to 28% for an aim to bring together innovative companies across the diverse financial services industry for shaping and driving the fintech revolution.
A close second to the UK, Singapore emerges as the second-best FinTech hub in the world with the Singapore government committing USD 225 million to the development of projects. It has also signed 16 FinTech cooperation agreements with governments and authorities of various countries.
Asia’s Fintech hub, Singapore hosts the Singapore FinTech Festival which encourages innovations in areas such as compliance, investment management, and cybersecurity. World Bank rates Singapore as a fine fertile ground for
4- Hong Kong
The FinTech stratup in Hong Kong witnessed a jump in investment, with figures showing that investments rose to USD 545.7 million in 2017 as compared to USD 215.5 million in 2016 and USD 107.5 million in 2015. Another great advantage that Hong Kong offers FinTech firms is access to China, the world’s largest consumer market.
Blessed with strong business culture, a world-class talent pool, government support, sophisticated technological infrastructure, and ample funding opportunities, Hong Kong is a thriving ground for FinTech businesses. In March 2018, Hong Kong’s Financial Secretary Paul Chan stated that over HKD 50 billion (USD 6.4 billion) would be used for long-term tech and innovation.
Europe’s second largest
Stockholm has attracted more than 18% of all private placements in Europe’s fintech scenes and reached a milestone with 15 investments being made in financial technology companies, amounting to a total of USD 266 million.
Denmark is seen as the most digital country in the European Union and the number 1 in Europe for ease of doing business. It is no secret that Denmark is the second leading fintech startup among the Nordic countries and business owners who are looking to expand their business.
Denmark’s transaction value in fintech amounts to US$11,487 million in the year 2017, and it is expected to show an annual growth rate of 16.1%, with potential users of Danish
Ireland presents a perfect platform for FinTech startups. Though it is home to some of the world’s top tech and financial services companies, none of them competes with each other in Ireland. This facilitates a unique culture of collaboration which is extremely conducive for the growth of FinTechs. Hence, it’s no surprise that transaction value in the FinTech market amounts to USD 8,164 million in 2018, and the market’s largest segment is the Digital Payments segment with a total transaction value of USD 7,669 million in 2018.
Malta does its best in
Germany has a well-established financial regulation and a diverse
At least 6 banks/e-money institutions (VPE & Solaris included) have already started working with fiat & crypto under the license from BaFin, with a few more banks and investment banks to start operations soon.
In fact, Home to a dynamic ecosystem with more than 4,000 active start-ups and over 22,500 new tech jobs between 2015 and 2016, Toronto is the only Canadian city to be ranked as a world-leading tech hub of the future.
a strong core of established financial institutions, top research facilities at local universities and academic institutions, a strong talent base and low business operating costs make Canada a potential breeding ground for FinTech startups. There are many fintech companies and clusters all across Canada, but most of them are located in Toronto.