FinTech boom in NRW: Founders take advantage of opportunities in the digital world!

FinTech boom in NRW: Founders take advantage of opportunities in the digital world!

FinTech companies are currently experiencing a boom in North Rhine-Westphalia (NRW). According to Paying in 2022 20 new fintechs were founded in Germany, which secured second place in Germany with 22 new foundations. NRW has overtaken both Bavaria and Frankfurt in the number of start -ups.

The development in cities such as Cologne and Düsseldorf is particularly remarkable, which are among the top five locations for AI foundations in Germany. Michael Monstadt from NRW Bank emphasizes that there is a well -functioning ecosystem for founders in NRW. Jannis Gilde from the start-up association also recognizes a positive development in the region, although Bavaria can show stronger founding activity per capita.

universities as start -up engines

The founding clusters in NRW are strongly based on the universities that set technical focus. The important institutions include the University of Bonn, the Ruhr University Bochum, the RWTH Aachen, the University of Paderborn and the Bergische University of Wuppertal. These educational institutions promote innovative strength and offer a basis for new companies.

With over 700,000 existing companies in the region, fintechs offer numerous potential customers. These usually use the online nature of your business model, which enables you to do location. It is worth noting that FinTechs usually achieve two thirds of their sales through B2B transactions.

support for founders and initiatives

The funding program Start-up Center.nrw will invest a total of 40 million euros in the start-up scene by 2027, while the Fin.Connect.nrw initiative has been supporting fintech foundations since the end of 2023. In addition, scholarships and free pitch training are offered to promote the founders. Although there were only six Fintech foundations in NRW in 2023, there is now a rapid growth.

In addition, a study by Startup Insider that former employees often found new start-ups. This close network, also referred to as "startup mafia", promotes the development of new companies. Particularly noteworthy are companies such as Klarna, N26 and Revolut, which are considered fertile founders and have produced numerous startups.

The role of the media and visibility

according to the german finance report there are currently 639 active fintechs in Germany Media reporting is often less noticed. The largest proportions of fintechs consist of providers of specific services that focus on the asset management and credit & factoring area.

Overall, NRW could soon establish several small fintech hotspots, while Frankfurt and Munich may lose importance. The trend shows that North Rhine-Westphalia occupies an important place in the German Fintech ecosystem, which is characterized by strong support and innovative approaches.