FinTech Ecosystem Benchmarks

FinTech Ecosystem Benchmarks

As global epicenters of the fintech ecosystem, London and Silicon Valley are home to a disproportionate number of industry players. Specifically, London and Silicon Valley are the official headquarters of 1,067 and 886 fintech organizations, respectively. In parallel, publicly available information indicates that both London and Silicon Valley-based fintechs more frequently cater to corporate and wholesale clients rather than retail customers.

London

FinTech Ecosystem Benchmarks

Silicon Valley

  • Similarly, there are currently 886 fintech organizations headquartered in Silicon Valley as of October 2020, according to reporting by Crunchbase.
  • Silicon Valley’s position as one of the largest epicenters for fintechs globally is further validated by separate reporting from The Global Fintech Index 2020, the 2020 Fintech Map, the Fintech Locations of the Future 2019/20 and the IFZ Global FinTech Rankings, among other resources.
  • Meanwhile, there appears to be no publicly available, pre-compiled information about the customer segments served by fintechs located in the San Francisco Bay Area, as indicated by an extensive review of fintech industry reports (e.g., McKinsey, Deloitte), credible media sources (e.g., Business Insider), fintech company surveys (e.g., Ernst & Young), articles by experts in the fintech universe (e.g., LendIt Fintech) and fintech company databases (e.g., Big Picture, Fintech Freedom, Fintech Weekly).
  • As such, the research team approximated the typical customer focus of Silicon Valley fintech organizations by reviewing the business models of 227 locally-based fintech startups and companies.
  • Consistent with reporting for London, this analysis of approximately 26% of Silicon Valley fintechs revealed that most primarily serve corporate and other business entities (66%) rather than retail customers (34%).

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