International legal practice, Osborne Clarke has advised figo GmbH on its investment by Deutsche Börse AG. DB1 Ventures, the Corporate Venture Capital arm of Deutsche Börse Group, has participated in a Series B financing round for the Hamburg-based FinTech company and is investing a seven-digit amount for a significant minority stake. Further investors are reputable business angels from Germany.
figo raised EUR 6.8 million in total in the current financing round. The investment will be used to drive the company’s internationalization forward as well as expand its products concerning the Payment Services Directive 2 (PSD2) and regulatory requirements.
figo is Europe’s first banking service provider and offers third parties innovative services with banking functions. By integrating the figo Banking API, they can quickly link their applications, products and services to more than 3,100 financial sources. This interface is the key to a multi-banking financial platform which guarantees users a comfortable and secure handling of banking data. The company also offers clients and partners various products and services within the context of the amended Payment Services Directive 2 (PSD2).
The Osborne Clarke team that advised on the investment was led by Partner Nicolas Gabrysch who was assisted by Till-Manuel Saur (both Corporate), Andreas Grillo (Employment law) and Dr Daniel Walter (Capital markets law/Finance).