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Why Berlin Gets a New Startup Every 20 Minutes?

Berlin

Germany’s capital city Berlin has always been a creative paradise for artists and businesses.

It’s probably one of the most liberal cities of Europe, you really can be yourself. This city definitely plays by its own rules and because of that, it encourages people to be their most creative.

There’s already a ton of fintech talent in the city, as it’s the hometown of N26.

Now, Fintech startup Revolut is opening a small tech hub in Berlin.

Tech companies banking on Berlin’s educated youth are to be credited for the influx of startups setting up shop in Berlin.

Revolut is Adding up to the Revolution

Revolut plans to hire 80 people initially for many different tech jobs, from software engineering to data science, product and growth.

This isn’t just about hiring talent in other cities. The company plans to customize its product a little more for the German market, and Europe.

In many aspects, Revolut still feels like a British app. Like if a user wants to change their card PIN code, the company asks to use an ATM to change it.

This is purely not possible in Germany, France, and other European markets.

The team in Berlin will also work on Revolut’s commission-free stock trading feature, could be called as a Robinhood competitor for Europe.

There are currently 150,000 Revolut users in Germany. The company will have a local marketing and communications team to expand more aggressively in that market.

It’s still tough to create a global fintech app that operates all around the world. People handle their money in different ways varying on the country in which they live.

Now, fintech startups are also realizing that they have a solid product offering at home.

Berlin and Innovation

A new startup is born every 20 minutes in Berlin, according to the German business advisory firm, Gruenden.

Berlin’s low rents, cool image, and open attitude make the city an attractive hub for innovative minds. The German capital is becoming the go-to place for aspiring entrepreneurs.

The city mixes modern and old perfectly and attracts people from all over the world.

It’s a cultural blender for creative minds and as a result, new and exciting business ideas are born in the city every day.