Stockholm Europe’s second biggest FinTech destination
A report published by the Stockholm School of Economics suggests that Sweden’s capital has become the second most sought after city for financial technology investments across the region, after London.
The report – Stockholm FinTech – An overview of the FinTech sector in the greater Stockholm Region – suggests that the city attracted about 18% of Europe’s total $1.48bn equivalent investments through 2014, while within Sweden these investments accounted for a third, 32% of total investments by private companies.
Key sectors driving investment in technology include trading and banking, payments, and other segments, the report says. The growth has also fuelled local employment by some 44% between 2010-14.
Torbjörn Bengtsson (pictured), of the Stockholm Business Region Development, and one of the authors said: “This report highlights how FinTech is rapidly growing in Stockholm. The city has so much going for it and to be the second most popular destination in Europe for this industry in the past five years is an impressive achievement. This growth will likely continue and even intensify in the years to come, enabling Stockholm to retain its position as one of the major fintech hubs globally.”