Analysis Ranks Singapore, Berlin And London As The Top Locations For A Career In Fintech

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Fluro has conducted an analysis to reveal which cities are leading the way in the fintech industry, as well as the top cities for a career in this sector

November 2022: With the global fintech market set to reach a worth of $310 billion by the end of 2022, both businesses and consumers around the world are tapping into this booming industry. But where exactly is leading the way and which locations are best for a career in this sector?

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To reveal which city is the best for a career in fintech, Fluro has analysed 50 global financial hubs looking at the number of job opportunities, salaries, cost of living and quality of life. The study also examines these locations to find out where is the leading fintech hub.

Singapore Named The Best City To Start A Career In Fintech, With Over 3,000 Fintech Jobs Available

While Singapore came fourth on our list of fintech hubs, it has been crowned the best city for those looking to launch a career in this industry. There are 3,211 fintech job opportunities at an annual salary of £54,312 on average. The cost of living (before rent) is an estimated £840 per month.

The top five cities for careers in fintech:

Rank City Percentage of STEM Graduates in Country (%) Number of Fintech Job Opportunities Average Salary (£) Cost of Living (£) Quality of Life Score
1 Singapore 69.3% 3,211 £54,312 £839.97 158.34
2 Berlin 71% 1,148 £55,462 £775.82 169.95
3 London 46.8% 3,441 £62,175 £916.10 131.91
4 Frankfurt 71% 474 £63,289 £815.85 174.72
5 Tokyo 37.5% 2,897 £35,177 £842.05 166.17

Berlin places second, with a slightly higher average salary of £55,462, as well as a lower cost of living (£776) and better quality of life score (169.95 vs 158.34 in Singapore). There is plenty of talent to fill the 1,148 fintech job opportunities available in Berlin, with Germany having the highest percentage of STEM graduates (71%).

London also ranks as the third best city to start a career in this sector. It has the most fintech career opportunities at 3,441 jobs, which is not surprising given the high number of fintech companies based here.

San Francisco Is The Fintech Capital Of The World, With Over £200 Billion Of Funding

The study also looked at other metrics to find out the overall fintech business hubs of the world, looking at the number of fintech companies, funding amounts, number of investors and unicorn firms.

San Francisco leads the way with the highest amount of available funding at nearly £204 billion, as well as 4,326 investors and 46 fintech unicorns, beating every other city analysed.

The top five fintech hubs include:

Rank City Number of Fintech Companies Total Funding Amount (£) Number of Fintech Investors Number of Fintech Events Number of Fintech Unicorns
1 San Francisco 897 £203,971,253,283.16 4,326 41 46
2 New York 1,515 £122,154,498,085.60 3,521 49 35
3 London 1,866 £138,741,987,588.56 2,260 52 25
4 Singapore 612 £28,697,088,475.55 1,730 8 0
5 Stockholm 135 £117,666,066,176.33 410 3 1

New York ranks in second place and actually beats San Francisco when it comes to the number of fintech companies, with 1,515 registered. However, its total funding amount of £122 billion, 3,521 investors and 35 unicorns fall just short of the top spot.

London takes third, boasting the greatest number of fintech companies at 1,866 (with 25 of them being unicorns). The capital also has more funding available than New York at just shy of £140 billion, making it second only to San Francisco. Plus, London is home to 52 fintech events – more than either New York (49) or San Francisco (41).

With the number of fintech companies and investors multiplying rapidly, we look forward to finding out what the next decade has in store for the fintech world.

Nick Harding, CEO of Fluro, commented on the findings:

“The growth of the fintech market has accelerated over the past 10 years, largely due to technological breakthroughs, and it’s great to see hubs of expertise emerge across the globe for both businesses and individuals looking to work in this industry.

Fintech companies have filled the gap left by traditional institutions that struggled to keep up with changing consumer behaviour. Efficient, timely and personalised services are more important than ever in the financial services space to secure a positive customer experience.

As the industry continues to grow across the globe, now might be the time for businesses, consumers and future talent to get on board with digital finance.”


About Fluro

Fluro is an innovative embedded-lending platform with a track record of delivering positive change for customers. Pioneering real rates, which are now used by 10% of working-age people in the UK every year and are available to over 15 million British consumers via 20+ industry partners.