Deutsche Bank Invests in German Fintech Valued at More Than EUR1 Billion
September 19 2019 - 7:51AM
Dow Jones News
By Kim Richters
Deutsche Bank AG (DBK.XE) has acquired a 4.9% stake in
online-banking startup Deposit Solutions GmbH, part of an
investment that values the startup at more than 1 billion euros
($1.1 billion).
The German lender said Thursday that it has been using the
startup's technology for its deposit marketplace Zinsmarkt since
2017, adding that it hopes to profit from the startup's expected
positive value development through its investment.
Deposit Solutions is a portfolio company of listed fintech
investor FinLab AG (A7A.XE), who said late Wednesday that the
financing round with Deutsche Bank and others values the startup at
more than EUR1 billion. After the investment, FinLab holds a stake
of around 7% in the startup, it said.
The companies didn't disclose the financial terms of the
deal.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
September 19, 2019 07:36 ET (11:36 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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