The aim is to promote Germany’s start-up and investment culture.
Deutsche Börse has announced the opening of its fintech hub in Frankfurt, making it one of the first major companies to support the Hessian State Government’s fintech initiative to create a fintech cluster in Frankfurt. The aim is to promote Germany’s start-up and investment culture.
The process begins with four start-ups who are shortly due to move into their new Frankfurt offices including Fintura, a loan rate comparison portal for SMEs, Dwins, an account switching service, Savedroid, an automatic money saver app, and the Cashlink Payments payment system. Additional start-ups will also be given the opportunity to book fully-equipped facilities in flexible co-working spaces on a daily basis which will initially be offered free of charge.
Commenting on the launch, Carsten Kengeter, CEO of Deutsche Börse AG, said: “We want to give start-ups in the financial sector a jump start, thereby contributing to the creation and development of a FinTech community within Frankfurt’s financial centre. Frankfurt should become Germany’s leading FinTech centre.“
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Hauke Stars, Deutsche Börse Executive Board member responsible for Cash Market, Pre-IPO & Growth Financing, also commented: “Promoting innovative business ideas is part of our broad offering, which begins with start-ups and continues with later-stage financing via Deutsche Börse Venture Network, extending through to IPOs and traditional exchange trading. To this end, we will be introducing additional offerings in the future.”
We want to give start-ups in the financial sector a jump start.
The new fintech hub provides around 60 workstations on a former pharmaceutical plant and staff of Deutsche Börse Venture Network, the initiative for growth companies launched in 2015, will provide their expertise to start-ups at the hub.
To complement the private initiatives, the Hessian State Government’s fintech initiative also aims to create a fintech start-up centre to serve as a central point of contact and coordination for the Frankfurt fintech cluster, enabling various financial centre participants to play a role.
The cluster will not only provide working space, but also serve as a centre for events, a point of contact for visits from foreign delegations and for investor roadshows. Deutsche Börse will also support this project.