In recent years, the Danish fintech sector has experienced significant growth, facilitated by a highly educated and digitally literate population, specific government policies aimed at promoting financial innovation, and the development of Copenhagen Fintech as an international fintech hub since 2016.
Denmark is the most digital country in the European Union and considered to be the number one European country for business facilitation. Investments in fintech increased seven-fold between 2014 and 2017 totaling over $150M USD, and there are just under 200 fintech startups based in the country.
Denmark’s strong growth in fintech led the government of Ontario and Denmark to sign Memorandum of Understanding (MoU) in 2018 that aims to accelerate the collaboration between the Danish and Canadian fintech ecosystems.