Sydney's fintech hub, Stone & Chalk, has been forced to find a bigger home because of overwhelming demand for its services from budding financial technology entrepreneurs.
The hub, which hopes to open in July, had been offering 150 places for fintech start-ups seeking support to accelerate their development.
But after receiving more than 350 applications, Stone & Chalk is set to occupy larger premises that can accommodate up to 200 fintech start-ups.
Stone & Chalk will occupy more than 2,300 square metres of office space at 50 Bridge Street in Sydney's central business district - almost double the space originally planned for the original premises in Clarence Street.
"Our primary aim is to facilitate and promote the development of a world-leading fintech start-up community in Australia," Stone & Chalk chief executive Alex Scandurra said on Wednesday.
"Given the high volume and quality of start-up applications, we felt that we needed to accommodate a larger number of entrepreneurs from day one.
"It's an incredibly high-class problem for us to have."
Mr Scandurra said the Stone & Chalk team was currently reviewing the applications from the fintech entrepreneurs.
Stone & Chalk will provide labs, desks, secure offices, "drop in" spaces, and events space to host master classes, meet-ups and conferences.
It will also help the start-ups link up to financial institutions, technology companies, universities, government and regulators.
Stone & Chalk hopes to allow fintech start-ups build significant scale and help make Sydney a prominent fintech hub in Asia.
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