Scotland’s fintech sector has grown its headcount by 24% in two years
An extra 2,000 roles have been added to the country’s fintech sector since 2021
Fintechs in Scotland have added around 2,000 employees to their ranks since 2021, growing the headcount of the sector to well over 10,500 people.
Those roles are spread across some 226 fintechs, with names like Modulr, OneBax, Zettle, LendInvest and Zumo all with offices in Scotland.
Industry group Fintech Scotland reported these figures to mark its sixth anniversary, also claiming that 38 per cent of fintechs in Scotland have reached scale-up stage.
"As we mark Fintech Scotland's sixth anniversary, we’re focused on building on the strong foundations that are enabling Scotland to continue to realise its fintech potential,” Nicola Anderson, CEO of Fintech Scotland, said.
“Seeing the increase in SMEs and the growth in jobs is a testament to the fintech businesses and the commitment from all involved in the Fintech Scotland Cluster. It spurs us on as we look to the year ahead and continue to focus on growth, the fintech community, and supporting Scotland to achieve its ambition as global fintech leader."
Fintech Scotland says the country isn’t just a hotspot for homegrown talent, it’s also become a home for at least 38 international fintechs, with companies like AccessFintech, Clearwater Analytics, Two Hands and Mail Metrics all making Scotland part of their development plans.
The group also reported a growing number of partnerships between Scottish fintechs and incumbents, including TSB working with home energy efficiency data provider Snugg, Phoenix Group working with Behavioural Finance to improve the retirement outcomes for its customers, and Lloyds working with GoCodeGreen on digital sustainability.