Manchester rockets up Global Fintech Index

Posted by Tilt Recruitment on July 21st, 2021

Manchester rockets up Global Fintech Index

Posted by Tilt Recruitment on July 21, 2021

Manchester has hit the top 50 cities in findexable’s Global Fintech Index (GFI).

Cities are ranked both by the success of individual fintech businesses and by the ecosystem supporting them. Manchester shot up 19 places in 2021 to reach 34th place worldwide, ninth in Europe and second only to London in the UK.

In the UK, only Manchester and London boast the headquarters of ‘unicorns’ (privately held start-ups valued at over $1 billion). Greater Manchester has six – 43% of the UK’s fintech unicorn herd and more eCommerce unicorns than any other European city.

Tim Newns, CEO of Greater Manchester’s inward investment agency MIDAS, said he was delighted by the recognition: “We’re proud that some of the most exciting companies in the sector call Greater Manchester home.” He cited Manchester’s affordability, quality of life and access to top talent as reasons for its success with fintech employers and founders.

Manchester’s fintech community includes more than 80 companies employing over 280,000 people, making it the biggest fintech hub outside London. Large companies, SMEs and startups collaborate and foster innovation in a thriving fintech ecosystem that boasts a wide range of innovation hubs, incubators and accelerators.

The city’s specialities include consumer finance, payments, platforms and software. Homegrown Mancunian fintechs include AccessPay, Nivo and Raisin, which have recently been joined by new branches of national and international companies expanding into the city, including MoneySuperMarket, Klarna, Adyen and OakNorth.

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