German FinTech figo raises €6.8 million

Hamburg-based FinTech firm figo has raised €6.8 million in a Series B financing round, led by DB1 Ventures, the corporate venture capital arm of Deutsche Börse Group.

figo is a banking service provider focused on building new banking infrastructures. 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).

André M. Bajorat, CEO of figo, said: “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.”

Ankur Kamalia, managing director and head of venture portfolio management at DB1 Ventures, added: “In a changing financial landscape, figo has established itself as a reliable partner and has built up a fantastic FinTech ecosystem around itself. We look forward to supporting their growth and also learning from the innovation they are driving.”

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