A glance at the list of FinTechs in Frankfurt and the Rhine-Main region illustrates how diverse these new companies in the financial arena are. The consultants at EY analyzed the numbers at the beginning of 2016 and arrived at a total of 56 FinTechs for this region alone.
This is because the banking hub offers the benefit of being home to the most important clients of many FinTechs, and most of them have their offices here. But young entrepreneurs from the nearby cities of Darmstadt and Wiesbaden, all the way to Oberursel, are also vying to revolutionize the world of banking. There are 250 of them across Germany, employing a total of 13,000 people - and they are growing fast.
Almost all financial service companies have high hopes for the FinTech market. Commerzbank has its own incubator (“Main Incubator”) unit near the west railway station, in which it supports young start-ups and their brilliant ideas with venture capital and cheap office space, expertise, and access to its clients. The Deutsche Börse AG (operating company of Frankfurt Stock Exchange and Eurex) has redeveloped two levels of a former industrial building located in the Frankfurt district of Nordend. A FinTech center supported by the Hessen Ministry of Economics is currently in planning and is scheduled to open in 2016.