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German Fintech Firm Deposit Solutions Scores $100M

Law360 (August 16, 2018, 5:09 PM EDT) -- German financial technology firm Deposit Solutions said Thursday its most recent funding round brought in $100 million from investors as the company looks to build upon successes in the savings deposit market and its business-to-consumer products.

According to Deposit Solutions, Vitruvian Partners led the funding round, joined by Swedish investment company Kinnevik AB. The company said several existing Deposit Solutions shareholders contributed to the funding round as well, including E.ventures, which was the fintech firm’s first institutional shareholder.

Hamburg, Germany-headquartered Deposit Solutions markets itself as a provider of an “open banking” platform — a system that allows banks to market third-party deposit...

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