FinTech Group AG announced Tuesday that it would create digital banking services in Europe together with Rocket Internet SE. The two companies plan to coordinate on banking business models that can penetrate the EU market.
The plans show that Rocket Internet continues to build new businesses regardless of its efforts to move major companies in its portfolio toward profitability, and closing some unsuccessful startups. “FinTech Group’s profile in financial services and the expertise of Rocket Internet in creating scalable, disruptive business models fit together perfectly,” said FinTech Chief Executive Frank Niehage. FinTech agreed with Rocket not to disclose the details of their common European goals. The planned banking business would expand Rocket’s portfolio. The Berlin-based company builder has so far focused on e-commerce, online food ordering and travel booking.