DGAP-Adhoc: FinLab AG: FinLab portfolio company Deposit Solutions successfully closes USD 100 million financing round, achieving a company value of USD 500 million

2018. augusztus 15., szerda, 18:45





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


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


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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.

 



Press contact:



FinLab AG

investor-relations@finlab.de
www.finlab.de

Phone: +49 69 719 12 80 147











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Language: English
Company: FinLab AG

Grüneburgweg 18

60322 Frankfurt/Main

Germany
Phone: +49 (0)69 719 12 80 - 0
Fax: +49 (0)69 719 12 80 - 011
E-mail: investore-relations@finlab.de
Internet: www.finlab.de
ISIN: DE0001218063
WKN: 121806
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange





 
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