FinLab AG: FinLab portfolio company Deposit Solutions successfully closes USD 100 million financing round, achieving a company value of USD 500 million
August 15, 2018 at 12:50 pm EDT
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DGAP-Ad-hoc: FinLab AG / Key word(s): Miscellaneous
FinLab AG: FinLab portfolio company Deposit Solutions successfully closes USD 100 million financing round, achieving a company value of USD 500 million
15-Aug-2018 / 18:45 CET/CEST
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FinLab portfolio company Deposit Solutions successfully closes USD 100 million financing round, achieving a company value of USD 500 million
Partial exit ("secondary") of FinLab results in inflow of funds totaling USD 11.5 million
Following the financing round and secondary, FinLab retains a 7.7% stake in Deposit Solutions
Frankfurt am Main, 08/15/2018 - Hamburg-based Fintech company Deposit Solutions GmbH, a portfolio company of Frankfurt-based stock market listed FinLab AG (ISIN: DE0001218063; Ticker: A7A.GR), today announced the successful conclusion of a new round of financing. The total transaction amounts to USD 100 million. The financing round was headed by Vitruvian Partners serving as lead investor and Kinnevik as co-investor with other existing shareholders investing alongside. The new investment takes the valuation of Deposit Solutions to USD 500 million.
As part of a so-called secondary sale, FinLab sold part of its shares valued at USD 11.5 million to the new shareholders, thereby realizing a double-digit million gain, which will be fully reflected in earnings for fiscal year 2018. Following the financing round and the secondary, FinLab retains a 7.7% stake in Deposit Solutions.
About FinLab AG:
Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A.GR) is one of the first and largest company builders and investors focused on the Financial Services Technologies ("FinTech") sector in Europe. FinLab focuses on developing German FinTech startups and providing venture capital for their financial needs, whereby in each case the aim is a long-term participation and ongoing support of the investment. FinLab also invests globally, as part of venture rounds, in FinTech companies, primarily in the USA and Asia.
15-Aug-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Finlab AG, formerly Altira AG, is a Germany-based investment company engaged in the building of companies in the financial services technologies (fintech) sector. It focuses on developing German fintech start-ups, as well as provides venture capital in a form of long-term participation and ongoing support of the investment. Additionally, the Company is engaged in venture deals, such as seed- and follow-on rounds for fintech companies in Germany and abroad. It also invests in venture founding rounds, primarily in companies located in the United States and Asia. Its portfolio includes nextmarkets GmbH, a company operating e-learning platform for global investors.
FinLab AG: FinLab portfolio company Deposit Solutions successfully closes USD 100 million financing round, achieving a company value of USD 500 million
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