The financial technology sector continues to flourish in St. Petersburg, most recently with the debut of the Fintech Center at the University of South Florida’s Muma College of Business. This "hub of excellence" brings academic research, world-class teaching, business engagement, and innovations surrounding the expanding financial technology sector under one roof on the St. Pete campus.
USF also partners with the Tampa Bay Wave on the FinTech|X Accelerator, which draws innovative and disruptive fintech startups to St. Pete for its highly specialized 90-day accelerator program. Cohort participants receive guidance and mentorship, community and connections, access to capital, and exposure and savings.
Financial Services in St. Pete
Fintech in St. Pete is an outgrowth of the city’s strong roots in the financial services sector. Sixty years ago, Bob James founded the company that became Raymond James, now the largest financial service provider outside of Wall Street. Financial services is one of St. Pete’s largest employment sectors, and financial services firms like Cathie Wood’s ARK Invest and Dynasty Financial Partners have chosen to relocate here.
Thriving Tech Community
At the same time, St. Peterburg is enjoying a tech boom. As Tampa Bay emerges as a tech hub, companies like procurement provider Bedrock, community management platform Spontivly, and blockchain ticketing platform Relic Tickets have chosen St. Pete for its business-friendly environment and supportive tech community.
Marriage of Finance and Tech
The combination of these industries provides fertile ground for fintech companies. CrossBorder Solutions, a $1 billion fintech company that helps some of the world’s largest companies automate their corporate tax departments, relocated to St. Pete in 2021 after hearing from their venture capital and institutional backers that St. Pete and the Tampa Bay area were drawing both startups and established firms.
Financial data technology company Intrinio was impressed with St. Pete’s support for entrepreneurs, and found that their investors were positive about the company’s move, saying, “No problem, stay in Florida because we know you're actually saving money; your money's going a longer way; it's a competitive advantage...and we'd love to come to a board meeting in December.”
Florida welcomes fintech entrepreneurs, and offers a fintech sandbox license that allows exceptions to laws and requirements under defined conditions so financial technology innovators can test new products and services.
To learn more about the opportunities for fintech companies in the Sunshine City or to come see for yourself, contact us.
Interested in learning how St. Pete helps innovative companies to thrive in our vibrant and authentically warm business community?
Download your copy of our Become St. Pete brochure.