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FinLab AG: FinLab portfolio company Deposit Solutions GmbH breaks through the EUR 2 billion mark of brokered retail deposits
DGAP-News: FinLab AG / Key word(s): Investment
– FinLab portfolio company Deposit Solutions GmbH breaks through the EUR 2 billion mark of brokered retail deposits – New growth record just 7 months after hitting the EUR1 billion mark Frankfurt am Main, 22/06/2017 – One of FinLab AG’s (ISIN DE0001218063, Ticker: A7A.GR) largest portfolio companies, Deposit Solutions GmbH has just passed EUR 2 billion in brokered retail deposits with banks throughout Europe via its brand ZINSPILOT, achieving a new growth record. After reaching EUR 1 billion in brokered deposits in October 2016, it has only taken seven months to make the next leap in growth. This is making Deposit Solutions one of the fastest growing Fintech companies worldwide. ZINSPILOT offers savers direct access to attractive interest rates offered by various banks within one single account. As a result, savers can look for alternative daily and fixed-term offers and profit from significantly higher interest income. In addition, each German retail bank can also integrate ZINSPILOT under its own brand into its product offering and as such can, for the first time, offer its customers access to attractive interest rates offered by third-party banks. Some of the banks already known to be using ZINSPILOT to expand their own offerings include Deutsche Bank or the German Fidelity subsidiary FFB. Since its launch in 2015, ZINSPILOT has convinced more than 50,000 customers with a customer recommendation rate of 95%. In addition, ZINSPILOT was voted “Best Deposit Platform” at the BankingCheck Awards for the third year in a row. FinLab board member Kai Panitzki comments: “Deposit Solutions is certainly one of the best performing portfolio companies in our stable. Given that since the last financing round the company has reached significant milestones and has grown massively, there should be decent hidden reserves in the valuation we are currently using in our NAV calculation, which is the one of the last round.” About FinLab AG: Press contact: For further information please visit: www.deposit-solutions.com Media contact: Germany 22.06.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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