A new financial technology hub is set to be launched in Stockholm in order to accelerate and promote the development of fintech, insurtech, and regtech startups in Sweden.

Scheduled to launch in the first quarter of 2017, the new Stockholm FinTech Hub will serve as an independent, not-for-profit innovation hub.

The hub is backed by BLC Advisors partner Matthew Argent, KPMG, NFT Ventures, and Invest Stockholm.

Stockholm FinTech Hub co-founder Matthew Argent said: “Stockholm FinTech Hub will be an enabler and a vital link between startups, regulators and established financial institutions.

“It will be a place where FinTech companies can access a dedicated support ecosystem designed specifically for the FinTech environment, including access to 42 other FinTech Hubs across the world where co-operation agreements have been formed.”

The hub’s steering committee includes KPMG, NFT Ventures, Invest Stockholm, Synch Law and founders of various successful fintech firms, with more partners expected to be announced eventually.

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By GlobalData

Invest Stockholm CEO Anna Gissler said: "Stockholm has a long history of innovation in the financial industry and is today the second leading FinTech city in Europe. We are very excited that Stockholm will now get a physical hub where people from different backgrounds can meet, exchange ideas and create new innovations."