FinTech Scotland announced on Thursday the fintech community in Scotland has now increased to over one hundred innovative firms focused on re-inventing financial services through new technology and data. According to the organization, this increase continues the momentum from the start of the year when it was announced that the number of firms had trebled to 75 more than the twelve months since the formation of FinTech Scotland at the beginning of 2018.
“The growth in the number of fintech firms in the community continues to be fuelled by a combination of new enterprises being created, international firms moving to Scotland and existing technology firms developing new fintech propositions.”
Fintech Scotland also revealed that the announcement comes on the day when the Public Finance and Digital Economy Minister, Kate Forbes, welcomed new startups to the fintech community.
“This was an opportunity for the Minister to hear from a range of diverse and exciting new enterprises and their entrepreneurs includingMONEYMATIX, XPAND ACCESS, CU APPS, ZORTREX, WOMEN’S COIN . Additionally, AMIQUS the recent winner at EIE19, Scotland’s main showcase event for firms looking for investment, joined the group to share how they are building on their initial growth. EIE this year saw fintech firms being the largest sector represented further demonstrating the growth in the sector.”
Minister Forbes went on to add:
“Scotland has the fundamental strengths to be globally recognised as a centre of FinTech excellence. Our economy is open and competitive, we have a highly skilled workforce, a great quality of life and an attractive cost base compared to other financial centres. Working with FinTech Scotland and its partners, we have seen real growth in the sector in Scotland, and I am pleased to celebrate the milestone of our first 100 FinTech companies. This is just the beginning, and I am confident that we will see continued growth.”