Berlin - Schnittker Möllmann Partners (SMP) has advised the existing shareholders in Deposit Solutions GmbH, e.ventures, Greycroft and TopTier, on another investment in the FinTech company. The financing round has a total volume of 100 million U.S. dollars. The company is now valued at 500 million U.S. dollars. The financing round was led by the new investors Vitruvian Partners and Kinnevik. The existing investors e.ventures, Greycroft and TopTier were advised on all matters of corporate law by a team led by SMP partner Stephan Bank.
Deposit Solutions GmbH, founded by Tim Sievers in 2011, is a Hamburg-based FinTech. The company employs 250 people and has established itself worldwide as an open banking platform with its sales channels Zinspilot and Savedo. Deposit Solution works with more than 70 banks from 16 countries.