Tag: Germany

German banks will have to cover the €1bn of costs needed to set up the technical infrastructure required for MiFID II according to The Association of German Banks.

German InsurTech startup Getsurance has picked up €2m in a Seed round of funding. The investment comes from Rocket Internet founder Alexander Samwer’s Picus Capital, Postfinance Bank and IBB.

Troubled German banking giant Deutsche Bank is making an investment in the FinTech space and taking a 12.5% stake in trade receivables marketplace TrustBills.

The Naga Group, the company behind social trading app SwipeStox, has picked up €12.5m in a Series A round from Chinese investment fund Fosun.

Japanese web giant Rakuten is making another European investment through its $100m FinTech fund backing insurance e-commerce startup Simplesurance.

German banking platform solarisBank has raised €26.3m in a Series A funding round after just a year in business. Arvato Financial Solutions and Japanese banking firm SBI Group led the round.

Digital asset management firm LIQID has secured €4.5m in a new round of growth capital from Berliner Volksbank Ventures and existing backers.

Berlin-based credit scoring startup bonify has picked up €5.5m in a Series A round led by London-based Mosaic Ventures and Silicon Valley firm Ribbit Capital.

Swedish e-commerce payments firm Klarna is buying German payments player BillPay from UK payday lender Wonga. The price of the deal is reportedly around the £60m mark.

Berlin-based banking deposit marketplace Raisin has closed €30m in a Series C funding round led by US VC Thrive Capital. Ribbit Capital and Index Ventures also participated.