Manchester FinTech Success

Manchester named as one of the world's top FinTech cities.

03:52 28 June 2021

Manchester is one of the top 50 cities in the world to start and scale up a Fintech company according to the 2021 Global FinTech Rankings compiled by Mambu. 

 

The research, which identifies emerging hubs, companies and trends around the world, showed that San Francisco, London, New York, Sao Paulo and Tel Aviv remain the top five cities in the ranking. However, Manchester has moved 19 places to claim the 34th position globally, 9th in Europe and 2nd in the United Kingdom. 

 

Tim Newns, CEO of MIDAS, Greater Manchester’s inward investment agency, said: “We are delighted that Manchester’s growing global reputation as a significant FinTech hub has been recognised. This report not only looks at the quantity of individual FinTech firms but delves down into the success of both the FinTech companies themselves and the supporting ecosystem, the latter of which we believe to be key to firms’ success,”

 

Findexable’s founder and CEO Simon Hardie added: “The UK continues to be a major player in fintech, but unlike the larger finance sector it is moving away from being largely London-based. We are seeing how investment in creating technology hubs in secondary cities is translating into the creation of thriving communities and viable companies. We have even seen fintech companies emerge in towns like Macclesfield, Ashford, Caerphilly and Inverness,”

 

“It is part of a greater push toward bridging the gap between companies and their customers that we have identified happening across the world since the annual report started in 2019, but which has accelerated in the last 12 months as a result of the pandemic driving more people to use digital finance. Where there are more customers there will be more businesses, and in an innovation-driven sector like fintech that translates to greater chances for new ideas that can shake up the entire industry.”