Hamburg tops Global Fintech Index as growth hub

Hanseatic city impresses with diverse ecosystem
09 December 2019
Elbhphilharmonie Hamburg

Hamburg has topped the 2020 Global Fintech Index of emerging locations or growth hubs published by Britain’s Findexable in December. Tallinn and Copenhagen ranked second and third. Hamburg came 13th in the European top 50 and 43rd in the global ranking. San Francisco Bay (Silicon Valley), London and New York took the top three places. Findexable uses real-time data and an algorithm to draw up the global ranking.

Fintech Week Hamburg – Deposit Solutions

Hamburg currently has 60 fintechs and a lively ecosystem putting the city third after Frankfurt am Main and Berlin in first position. The Global Fintech Index termed Hamburg an “established start-up location” with key events such as Fintech Week, the Next Commerce Accelerator (NCA) and the Comdirect Startup Garage – accelerators that specialise in financial technology start-ups. Fintech Hamburg, an initiative of Nanoplate Hamburg e. V., the Fintech Ladies and the Hanseatic Blockchain Institute are examples of movers and shakers in the Hanseatic fintech scene. The study Deposit Solutions als Einhorn has named Exporo, Kreditech, Collect.Ai and Tomorrow as key players.

Quantity, quality and environment 

According to Findexable, this is the first global ranking of fintech locations. The ranking of cities and countries is based on quantity i.e. number of fintechs, fintech hubs, accelerators, etc., quality i.e. number of unicorns, investments, events, etc. and environment i.e. regulatory environment, incentives for start-ups. Real-time data and an algorithm are used to calculate the rankings, the company said.