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Deutsche Boerse acquires stake in FinTech company figo

First Published 24th November 2016

Deutsche Börse acquires 'significant' minority stake in FinTech company figo.

Andre Bajorat, figo

Andre Bajorat, figo

DB1 Ventures, the Corporate Venture Capital arm of Deutsche Börse Group, has participated in a Series B financing round for the Hamburg-based FinTech company figo and is investing a seven-digit amount for a significant minority stake. Further investors are business angels from Germany. figo raised around €6.8 million in total in the current financing round.

"Deutsche Börse represents a perfect partner for figo - a financially involved investor that is at the same time a strategic partner. No other player of this type in the financial services sector stands for neutrality and is at the same time an infrastructure provider. With Deutsche Börse as a partner, figo will gain new enhanced visibility in the industry," said André M. Bajorat, CEO of figo.

figo is a banking service provider focused on building the banking infrastructure of the future. In addition to the Banking API, the company offers clients and partners various products and services within the context of the amended Payment Services Directive 2 (PSD2).