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Deutsche Bank is paying €50m for a 4.9 per cent stake in Deposit Solutions in a transaction that values the Hamburg-based start-up at more than €1bn.
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Deposit Solutions operates software that links retail clients and lenders, allowing banks to collect deposits from people across Europe who are not their direct customers. It is a rival to Berlin-based Raisin, which among other investors is backed by PayPal.
https://www.ft.com/content/d9ebf1f0-da37-11e9-8f9b-77216ebe1f17?shareType=nongift
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