Berlin welcomes fintech start-ups post Brexit
July 18, 2016
Berlin Partner has launched a website in English giving information on how to start up a business in the capital and will take a roadbus to London in October to attract more companies.
"The most concrete enquiries are coming from London fintechs (financial technology firms). They are considering a move to Berlin so as not to lose access to the European single market," Berlin Partner Director Stefan Franzke told a news conference on Monday.
According to a report last year from accountants Ernst and Young, Berlin attracted almost 2 billion euros ($2.2 billion) in venture capital investment in start-ups in 2014. There are 100 financial technology firms or fintechs in the capital employing between 10-18 people.
Cornelia Yzer, Berlin's Senator for Economics, Technology and Research, has sent out letters to British companies and lobbied start-up founders on the benefits of Berlin.
Franzke said he also expected to receive enquiries from international start-ups that were originally interested in London but were now looking elsewhere in Europe. He said he saw Amsterdam as Berlin's major competitor.
jm/mm (Reuters)