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Top 10 FinTech start-ups in Germany

The FinTech scene of Germany has been shadowed by that of the neighboring UK for quite some time now, but they have some mega success stories and are thriving well. Germany ranked second for venture funding last year into fintech in Europe. The lively fintech scene over there is beginning and expanding to see results. Also, notably these organizations are now utilizing this capital into developing the terms for the future and growing fast.  

There are approximately 1200 FinTech start-ups in Germany. Here is the list of the 10 most exciting ones.  

1. N26 

Founders: Valentin Stalf and Maximilian Tayenthal 

Founding Year: 2013 

Headquarters: Berlin, Germany 

Funding received: USD 782.8 million 

Investors: ARMADA Investment, Greyhound Capital and Draper Esprit 

About the company: N26 is a privately held organization which functions under the financial services industry and has a work strength of around 1001-5000 employees. The Berlin based start-up deals with various specialties like mobile banking, FinTech and finance management. N26 is basically a digital bank for businesses and consumers. They provide services such as bill payments, money transfers and deposit accounts. 

2. Qontigo 

Founders: Steffan Hermanns

Founding Year: 2019 

Headquarters: Frankfurt, Germany 

Funding received: USD 720 million 

Investors: General Atlantic 

About the company: Qontigo is a financial intelligence company and one of the global leaders in the modernization of investment and funding management. They offer multiple products and services like Axioma for quantitative risk management analytics and portfolio construction. They operate under the Financial services industry and have a work strength of around 501-1000 employees. The organization also features in analytical tools for capital owners and provides investment strategies. 

3. Kreditech

Founders: Graubner Muller

Founding Year: 2012 

Headquarters: Hamburg, Germany 

Funding received: USD 282 million 

Investors: Varde Partners, Runa Capital and HPE Growth Capital 
About the company: Kreditech offers a direct lending platform for their clients. They provide multiple products and services like Kredito24 for 30-day micro learn for clients to finance their purchases and interest free fixed term loans. The organization has a work strength of around 201-500 employees and deals with various specialties like machine learning, data science and artificial intelligence.

4. Wefox Group 

Founders: Julian Teicke

Founding Year: 2017 

Headquarters: Berlin, Germany 

Funding received: USD 270 million 

Investors: Target Global, Goldman Sachs and CreditEase 

About the company: Wefox Group provides management and sales solutions for insurance companies. They provide two platforms Wefox and One. Wefox assists solutions for connecting insurance organizations to brokers which support consulting and managing clients digitally. One is a platform for health and life insurance policies. Wefox Group is basically a digital insurance association with digitally enabled advisors. The company has a work strength of around 501-1000 employees. 

5. Wefox 

Founders: Jonathan Seoane, Dario Fazlic and Fabian Wesseman 

Founding Year: 2014  

Headquarters: Berlin, Germany 

Funding received: USD 268.5 million 

Investors: Target Global, AngelList and Goldman Sachs
About the company: Wefox is a mobile and web-based application for insurance comparison platform for customers. They also provide quotes for liability insurance, health insurance, disability insurance and more. Wefox is a privately held association functioning under the insurance sector. They also provide policy management services for clients. The application is available for both IOS and android systems

6. Raisin 

Founders: Frank Freund, Michael Stephan and Tamaz Georgadaze 

Founding Year: 2013 

Headquarters: Berlin, Germany 

Funding received: USD 206 million 

Investors: Cornelius Walter, Samir Desai and James Utzschneider 
About the company: Raisin is a privately held organization which operates under the financial management industry and has a work strength of around 201-500 employees. They deal with various specialties like investments, deposit accounts and pension products. Raisin basically provides a platform for comparison of bank accounts. They provide comparisons of deposit and savings accounts on the basis of interest rates.

7. Deposit Solutions

Founder: Tim Sievers

Founding Year: 2011

Headquarters: Hamburg, Germany 

Funding received: USD 198.9 million 

Investors: Valar Ventures, XAnge and FinLab AG 

About the company: Deposit Solutions provides an open banking API solution. They provide an architectural platform which permits banks to collect retail deposits without a proprietary local retail infrastructure. The company allows banks to list the savings offer on an open platform. Deposit Solutions is a globally recognized FinTech start-up for deposits. The company has a work strength of around 201-500 employees. 

8. Smava 

Founders: Alexander Artope and Eckart Vierkant 

Founding Year: 2007 

Headquarters: Berlin, Germany 

Funding received: USD 188.7 million 

Investors: Verdane Capital, Oliver Jung and Mountain Partners

About the company: Smava is an integrator of credit cards and loan products. They offer comparison platform annuity, personal loans, car loans and much more. They feature a debt restructuring advisory services and credit calculator. They enable clients to buy and compare loans online from multiple lenders and bankers. Their primary specialty is to deal with Germany’s online loan comparison platform. The organization is an online loan comparison platform which offers cheaper loan options to clients. 

9. Solarisbank 

Founders: Marko Wenthin, Andreas Bittner and Thom Rasser

Founding Year: 2016 

Headquarters: Berlin, Germany 

Funding received: USD 18.7 million 

Investors: Storm Ventures, ABN AMRO Bank and Vulcan 
About the company: Solarisbank provides an API accessible license banking platform. They enable financial associations to develop custom services as per the requirements. The company provides various services such as payment services, e-money, issuing vouchers for the marketplace and more. Solarisbank is the first banking service platform with a complete banking license which enables companies to provide their financial products.

10. FRI-DAY

Founders: Christoph Samwer and Florian Eismann

Founding Year: 2017 

Headquarters: Berlin, Germany 

Funding received: USD 13.7 million 

Investors: Seven Ventures, German Media Pool and Baloise 

About the company: Friday offers usage-based insurance for home content inventory and automobiles. They provide automobile insurance based on kilometers travelled for second cars and little drivers. Their home content inventory includes coverage for burglary, fire, water and much more. Friday is the first digital insurer in Germany to provide its own car fares

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