On February 20th and 21st, Madrid Investment Attraction and Finnovating will host the 2024 edition of their event, Madrid International Fintech Capital, at the Madrid International Lab. For the first time, the event will feature the presence of the two largest Fintech initiatives in the world: the European Digital Finance Association and the Ibero-American Fintech Alliance.

Throughout the two days, attendees will explore the unique advantages of establishing operations in Madrid, with a specific focus on the FinTech sector. Information will be provided about MIA’s Softlanding program for Fintech companies, and success stories of companies based in Madrid will be showcased. Additionally, the event will offer opportunities to connect with public institutions supporting investment in Madrid, as well as with European and Latin American leaders from the Ibero-American Fintech Alliance and the European Digital Finance Association. Investors, corporations, and potential clients and partners seeking to do business in Madrid will also be present, making it an ideal platform for networking and collaboration.

Madrid, International Fintech Capital

Madrid is establishing itself as a compelling hub for Fintech innovation and growth. This is due to its blend of a vibrant and expansive market, offering geographical and linguistic advantages, along with a population and businesses that are increasingly tech-savvy. Among the primary reasons to invest in Madrid, the following highlights stand out:

• Spain and Madrid possess a diverse, modern, competitive, transparent, and fully integrated financial system that operates within the international financial markets, with Madrid serving as its central hub.
• Madrid hosts Spain’s key regulatory agencies, alongside major financial institutions, multilateral organizations, and Fintech and Insurtech associations.
• Madrid fosters an environment conducive to Fintech innovation, backed by supportive government policies and a progressive regulatory framework. The regulator’s openness to engaging and aiding Fintech projects is pivotal for the orderly growth of the sector, mitigating complexities stemming from potential regulatory shifts.
• Madrid boasts a mature innovation ecosystem wherein startups, investors, universities, research centers, technology parks, and other innovation spaces collaborate, positioning the city as one of Europe’s foremost innovation centers.
• Madrid’s blend of robust educational institutions, an enticing lifestyle, and a supportive professional environment acts as a magnet for top-tier talent, fostering a continuous stream of fresh ideas and innovation.
• As an open and diverse city strategically positioned as a major capital, Madrid boasts both physical and digital infrastructures that position it as a key connectivity hub between Europe, the Americas, and Africa.
• Madrid’s exceptional combination of talent and state-of-the-art infrastructure, coupled with comparatively moderate costs, offers a significant advantage over other major European capitals. This makes it an ideal choice for companies aiming to streamline operations without compromising on quality.
• The Madrid City Council has recognized the Fintech sector as strategically important for the city. As a result, it is committed to facilitating and supporting the establishment of companies in this sector, collaborating with key entities such as the MAD Fintech Cluster, Finnovating and other relevant associations.

Madrid has welcomed over 230 cross-border greenfield projects each year over the last five years

Madrid stands out as the primary destination for foreign investment in Spain and ranks third among European cities in terms of the highest number of cross-border greenfield projects received since the turn of the century. The city boasts a significant concentration of headquarters for multinational companies active in Spain. The commitment demonstrated by numerous Fintech companies in recent years underscores Madrid’s position as a thriving hub for innovation and investment. Notable examples include:

• The Danish business expense management software company Pleo chooses Madrid to establish its hub for Southern Europe. Alvaro Dexeus, the company’s general manager, points out that the fact that Madrid is a pole of attraction for talent, it is close to Lisbon and has good connections with the rest of the region also influenced their decision.
• Adyen announces new tech hubs in Chicago and Madrid. The focus will be on hiring back-end software engineers, front-end software engineers, data scientists, infrastructure engineers, as well as other engineering and operational roles for the two hubs.
• EY creates a great financial hub in Spain for Europe. EY has chosen Spain to create a hub from which to provide financial services to the rest of Europe. The company plans to double the size of its workforce in the country.
• Amex bets on its hub in Spain and hires 400 employees. Madrid has been the company’s European HQ since 2018, previously located in London, and a centre of commercial excellence that serves 37 countries.
• Mastercard opens its Tourism Innovation hub in Madrid. The multinational payments firm will open its doors in the second half of 2022 with the aim of supporting the sustainable recovery of the sector.
• The Swedish company Klarna, the second largest fintech company in the world, has chosen Madrid to open a technology hub to develop and promote solutions for all its business areas and will create 500 jobs.
• Clikalia raises 75 million euros in a round led by SoftBank. In addition to Softbank, the largest fund for tech companies in the world, reference funds in the proptech world such as Fifth Wall or Luxor Capital also participated in the round.
• Credit Suisse picks Madrid for its European investment banking hub after ruling out sharing operations with Frankfurt. The Swiss bank has already requested a banking license and already has 300 people working in the city, to which it hopes to add at least 100 more, making it one of the bank’s main hubs.