Dr. Tim Sievers, CEO and founder of Deposit Solutions said: "We are delighted to welcome Vitruvian and Kinnevik as new shareholders. They are experts in supporting high-growth companies, which makes them ideal partners for us. Their deep industry expertise and financial firepower will help us achieve our mission of making Open Banking the new standard for the global USD 50 trillion market for savings deposits." Deposit Solutions' Open Banking platform transforms the value chain in the savings deposit market to the benefit of banks and savers alike. Banks seeking deposit funding benefit from Deposit Solutions' unique Banking-as-a-Service model: they can easily connect to the platform and gain access to deposit funding from the clients of other Points-of-Sale in different markets without having to set up and operate their own deposit infrastructure for these customers.

https://markets.businessinsider.com/news/stocks/open-banking-pioneer-deposit-solutions-closes-new-investment-round-of-usd-100m-led-by-vitruvian-partners-and-sees-valuation-exceed-usd-500m-1027462969