Hamburg based open banking platform provider Deposit Solutions has raised a $20m funding round led by e.Ventures and Greycroft.
The new funds will be used to grow the Hamburg-based company’s Open Banking platform for savings deposits for both B2B and B2C services, and to expand internationally. Its APIs allow banks to connect to the platform to build and offer deposit services. It has partnered with more than 50 banks. The company acquired Berlin startup Savedo earlier this year to improve on the B2C side of its business, which has reached 85,000 retail customers to date.