LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Deutsche Boerse AG (ETR:DB1) today announces the opening of its FinTech hub in Frankfurt, making it one of the first major companies of the region to throw their weight behind the Hessian State Government’s efforts to establish a FinTech cluster in Frankfurt.
Four start-ups will be relocating into their new Frankfurt offices in the next few days:
- “Fintura”, a loan rate comparison portal for SMEs,
- “dwins”, an account switching service,
- “savedroid”, an automatic money saver app;
- “Cashlink Payments”, a payment system.
Three of these FinTech hub companies will, hence, also be moving their headquarters to Frankfurt. Other start-ups will also have the chance to book fully-equipped facilities in co-working spaces on a daily basis. Deutsche Boerse is initially offering the offices free of charge.
Carsten Kengeter, CEO of Deutsche Boerse AG, said:
“With our FinTech hub being part of the Hessian State Government’s FinTech initiative, 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.“
Hauke Stars, Deutsche Boerse Executive Board member responsible for Cash Market, Pre-IPO & Growth Financing, 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.”
The FinTech hub in Frankfurt offers 60 workstations on the 450 sq m site of a former pharmaceutical plant. Staff of Deutsche Boerse Venture Network, the initiative for growth companies launched last year, will provide their expertise to the start-ups at the hub.
For the full announcement from Deutsche Boerse on the launch, click here.