NEW YORK, June 22, 2021 /PRNewswire/ -- On June 15, 2021, approximately 70 leading FinTech professionals came together for an inspirational and strategic exchange between two emerging capitals from this growing industry - Atlanta and Berlin. Focusing on the successful cooperation between Berlin and the U.S., participants discussed new perspectives, future concepts and opportunities to further the development of the FinTech ecosystem. The event was organized by the Digital Business Association Berlin-Brandenburg in partnership with Berlin Business Office, USA, Berlin Partner and the Berlin Senate for Economics, Energy and Public Enterprises.
More than 400 fintech companies in the Berlin region facilitate transactions all over the world. In the fiscal year of 2019/20 Berlin was the leader in VC investments for fintech startups ahead of other major German markets – Berlin with 197 startups, more than Munich Frankfurt and Hamburg combined (MEDICI 2020). Some of Berlin's shining stars are N26 (neobank), Raisin (savings marketplace), Billie (B2B invoicing and payments) and Omni:us (insurtech) and quickly growing Penta (challenger bank for SMEs) and Moonfare (investment in private equity funds).
As the state capitol of Georgia, Atlanta appears to be the U.S. equivalent of the Berlin fintech epicenter. Nicknamed "Transaction Alley", it rivals Berlin with impressive statistics. The +50 Atlanta-area fintech companies generate over $72 billion annually, representing over 70% of all U.S. payment transactions. Figures such as these have helped the city of Atlanta become one of the most important technology hubs in the U.S.
And therein lies the similarity between the two cities and surrounding regions. Both play an important role within their respective countries. Both have attracted and keep attracting investments from venture capitalists, established companies and innovative startups. Representing Berlin, the Berlin Business Office, USA is ready to pave the way!