FinTech Scotland has announced there are now more than 100 firms in Scotland focused on reinventing financial services through new technology and data.
The milestone continues growth from the start of 2019, when FinTech Scotland said the number of firms had trebled to 75 over the 12 months since the organisation’s formation in January 2018.
FinTech Scotland was established by the Scottish Government, the University of Edinburgh and the private sector to boost growth in Scotland’s financial technology sector. It is hosted and supported by Edinburgh Innovations.
Growth in the number of fintech firms in Scotland 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.
‘Just the beginning’
The announcement came as the Public Finance and Digital Economy Minister Kate Forbes welcomed some of the newest firms to the fintech community to the Scottish Parliament.
Amiqus, the recent winner at EIE19, the showcase event for Scottish firms looking for investment, joined the group to share how it is building on its initial growth. At this year’s EIE, fintech firms were the largest sector represented.
“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.”
– Kate Forbes MSP, Minister for Public Finance and Digital Economy.
FinTech Scotland also announced that Scotland’s International Fintech Festival will take place over three weeks between 9 and 27 September, following the success of last year’s community-led Festival.
The Festival will take place at more than 50 events across the breadth of the country, including seven Scottish cities, with guests from across the globe.
“We continue to be focused on supporting the dynamic and expanding fintech community across Scotland and it is encouraging to see the number of enterprises grow with the support of key partners, universities and the Scottish Government.
“Scotland’s fintech community is continuing to attract growing interest from international investors as well as the established financial services sector who recognise the significant value in collaborating with creative forward-thinking enterprises.”
– Stephen Ingledew, Chief Executive, FinTech Scotland.
Fintech companies in Scotland, June 2019
Blockchain Technology Partners
Isle of Skye Blockchain
KAL (Korala Associates Limited)
Sinergi Management Limited
The ID Co
Trade In Space
Zonal Retail Data Systems