Brexit Benefiting Berlin Fintech

Note from the Publisher:  Reuters is reporting that there has been a large surge of interest in Berlin from UK-based fintech startups and employees since Brexit.  While this was widely reported as an inevitability at the time of the vote, there are now anecdotal stories from Berlin-based fintechs have seen a major surge in Brits for job applications since then, roughly double of what they had prevoiusly seen pre-Brexit.  As of 2015, Berlin had around 15,000 fintech employees to UK’s 61,000, so the talent drain would not be a good thing for the UK. 

“BERLIN (Reuters) – Britain’s vote to leave the European Union has spurred a surge in the number of financial service industry workers now based in the UK applying to work in Berlin’s burgeoning fintech scene, several of the city’s start-ups told Reuters.

The German capital is jostling to position itself as a hub for the financial technology – fintech – industry and is home to some 70 companies, more than double the number in Frankfurt, the country’s traditional financial centre.

Employers say it is easier to lure bankers to Berlin than to get techies to move to Frankfurt, with potential talent attracted by affordable living, shorter commutes and the widespread use of English.”

Read Full Article at Yahoo Finance