Why Colorado Is An Attractive Location For Fintech Companies
London. New York. San Francisco. For many entrepreneurs and startup founders, those are three global cities that are associated with a bustling fintech scene. While many flock to these cities to start a company or build a team with deep experience in financial services, they’re overlooking another region: Colorado.
Colorado is one of the fastest-growing financial hubs in the United States. In fact, Metro Denver was recognized as one of the top 25 metro areas with the most financial jobs, representing 15% of the city’s job openings. The region is also known as one of the few areas with a significant presence in key financial industries including banking and finance, investments, and insurance.
After spending 17 years in the financial services space in Colorado, I’m well aware of the potential the region has in terms of talent and opportunities for growth. There are several reasons why all eyes should be on Colorado as it vies to become the “Wall Street of the West.”
Rising Fintech Scene In Denver
In recent years, Denver has put itself on the map for its increasing startup presence. In the fintech sector specifically, deals in Denver are booming. According to PitchBook Data (subscription required), the Denver-Aurora metro area saw $29.5 million in fintech venture capital fundraising in 2018.
With all the investment pouring into the region, it’s no surprise that Colorado has become a hidden gem for talent and is quickly becoming one of the nation’s top places for job seekers. CBRE’s 2018 tech talent report found that the tech talent pool in Metro Denver equals 6.2% of total employment, placing the city among North America’s top 10 tech markets. With Denver’s established tech presence, the city has plenty of talent and leadership for fintech companies to choose from.