E.Ventures, Greycroft back $20m round for Deposit Solutions

Both investors were existing shareholders in the company prior to the most recent funding round.

The fresh capital will be used to accelerate Deposit Solutions' international expansion. It currently operates in 16 countries across Europe and has offices in Hamburg, Berlin, London and Zurich.

Deposit Solutions is backed by numerous specialist technology investors, including Peter Thiel, E.Ventures, Greycroft, FinLab, Valar Ventures, Apeiron Investment Group and Stefan Wiskemann.

Previous funding
E.Ventures participated in Deposit Solutions' first institutional round in January 2016. The VC firm led a €6.5m series-A financing alongside Peter Thiel, Stefan Wiskemann and other angel investors.

Greycroft first invested in the company via its series-B, a €15m round that closed in July 2016. E.Ventures, Valar and Peter Thiel also took part.

Company
Deposit Solutions is a financial technology company based in Hamburg. Its platform allows bank clients to make deposits without the need to make a new bank account and enables banks themselves to collect deposits without building their own deposit infrastructure. The company works with more than 50 banks in Europe and said it has mediated almost €4bn of deposits in the last two years. The company was founded in 2011 and employs 200 people.

People
E.Ventures – Andreas Haug (managing partner).
Deposit Solutions – Tim Sievers (CEO).

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• Topics
• Expansion
• DACH
• Technology
• Financials
• Germany
• Venture