Deutsche Börse has launched a new financial technology centre in Frankfurt, in order to support the state government’s fintech initiative to create an innovation hub in the city.
The fintech centre is intended to support the start-up and investment culture in Germany. Four start-ups are moving in to the office: Fintura, a loan rate comparison service for small and medium-sized business; dwins, an account switching service; savedroid, an automated money-saving app; and a payment system, Cashlink.
On the site of a former pharmaceutical plant, the centre provides workstations, conference rooms and a lounge area, as well as space for creative working, networking and events. Staff from the Deutsche Börse Venture Network will also be around to offer guidance.
Deutsche Börse CEO Carsten Kengeter said: “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.”
Hauke Stars, the Deutsche Börse executive board member responsible for cash market, pre-initial public offering (IPO) and growth financing, added: “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.”
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