Deposit Solutions earns unicorn status after securing a $55 million investment from Deutsche Bank
Summary
Open banking and Banking-as-a-Service (BaaS) fintech Deposit Solutions has secured a €50 million ($55 million) investment for a 4.9% stake from Deutsche Bank that values it at more than €1 billion ($1.1 billion), reports the Financial Times. Deutsches investment makes Deposit Solutions the second most valuable German fintech after neobank N26, which secured a $3.5 billion valuation following a $170 million raise earlier this year. Of note, the deal sees Deposit Solutions valuation more than double since its last funding round, when it secured $100 million in August 2018, per the FT. Deposit Solutions develops technology for banks and lenders in addition to offering its own business-to-consumer (B2C) solutions: Amid historically low interest rates, players like Deposit Solutions have carved a niche thats gained traction among consumers and lenders. Interested in getting the full story? Here are four ways to get access:
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