FinTech Scotland has highlighted industry growth on its second anniversary.
The initiative has been a joint effort involving the University of Edinburgh, Scottish Government and Scottish Enterprise.
The number of FinTech businesses in the country has risen to 119.
This marks a 60% rise over the last 12 months.
What does this mean?
Part of the growth has been due to FinTechs deciding to base themselves in Scotland from other parts of the world. Home to the first FinTech university course in the UK, the country has taken many steps to promote a thriving FinTech ecosystem.
“Our progressive, collaborative and inclusive agenda is certainly establishing Scotland as a major global fintech centre which can contribute to Scotland’s economic and social ambitions,” said Stephen Ingledew, CEO of FinTech Scotland.