The United States accounts for 57% of the global Fintech market. FinTech in literal terms is the portmanteau of “Financial technology” which basically represents the application of new technological advancements of products and services in the financial industry. Current growth trends in the global Fintech market show an 8.6% cumulative average growth rate (CAGR). Now that travel and entry restrictions around the globe are fast disappearing, it won’t be surprising to see migration of attention towards growing economies like Texas and Delaware.
Let’s take a look into some key facts about Texas
With skilled workforce and a talented pool of technocrats, low taxes and competitive incentives, Texas has become a popular destination for Fintech, software and blockchain firms. Between just the last 10 years, the state increased over 7,500+ companies just in financial establishments, depicting a positive trend in this sector. It’s also become one of the leading destinations for companies to relocate from other states in the USA. Given these incredible and rapid developments over the last few years, it’s no surprise that 34% of the state’s capitals office space is utilized by the tech sector and why CNBC Metro placed it over Silicon Valley as the top start-up Mecca in America.
A summary of Delaware as an option for a FinTech company
Delaware is commonly referred to as the incorporation capital of the United States. Delaware accounted for at least $50 million in fintech investment—approximately 75 percent of all fintech investment in the Philadelphia region—though these figures most likely do not capture significant equity investments in fast-growth Delaware firms like Marlette Funding and Fair Square Financial. Like most regions outside of the Bay Area and New York, Delaware lacks a robust environment of locally-based venture firms, but the state’s base of leading banks could provide a competitive advantage given that corporate venture arms accounted for $4.4 billion in fintech investment in the United States in 2018.
Overall, both states are viable options and we have experts who can assist any foreign investor to set up in these jurisdictions. Find our fee structures for these set ups and more options for Delaware and for other states in USA.