Population
83M
Online population
77M
Currency
EUR
Population - 83M
At the start of 2024, 77.9% of Germany’s population lived in urban centers, while 22.1% lived in rural areas.
Internet penetration - 93.3%
Germany was home to 67.8M social media users in January 2024, equating to 81.4% of the total population.
Germany [had](https://blog.cfte.education/fintech-unicorns-in-germany-full-list-2021/#:~:text=Germany currently has around 946,fourth largest in the world.) around 946 active startups in the FinTech sector in 2023. Berlin could be described as the FinTech capital of Germany, with 197 startups functioning in the sector. Among the start-ups, 12 were FinTech unicorns. Germany’s banking sector secured the most FinTech investment, followed by property technology and insurance technology. Out of the 946 FinTech startups operated in Germany, 203 were prop-tech companies, 189 were finance-focused businesses, and 115 were insurtech.
Global investment in start-ups in the financial sector fell to its lowest level since 2017 last year. This downward trend is particularly evident in the German FinTech sector. At $1.11B, total investments in this country in 2023 reached their lowest level since 2014 ($0.9B), with only 113 deals being concluded in total.
'InnoFinTech' program, with a total volume of €9M, has proven to be a positive boost for the start-up scene in Hamburg and nationwide, which will continue until 2025. This program was launched with the local development bank. They have also launched their own company, ‘Finance City Hamburg’, which is intended to strengthen the financial location. 20 FinTechs have already been supported in the north in recent years, including Plancraft, Stock Republic, DealCircle and Goyaa.
155 private banks and 29 extraordinary members, such as FinTechs and seven state associations, are united in the association of German banks.
German banks' consolidated earnings should improve slightly in 2024, but profitability will remain a relative weakness due to inefficient cost bases, overcapacity, and intense competition. German banks benefited substantially from higher interest rates, but S&P Global expects support from cyclical interest to peak in 2024.