DGAP-Adhoc: FinLab AG: * FinLab portfolio company Deposit Solutions closes financing round with participation of Deutsche Bank * Deposit Solutions is valued at over EUR 1 billion as part of the transaction

2019. szeptember 18., szerda, 17:59





DGAP-Ad-hoc: FinLab AG / Key word(s): Investment


FinLab AG: * FinLab portfolio company Deposit Solutions closes financing round with participation of Deutsche Bank * Deposit Solutions is valued at over EUR 1 billion as part of the transaction


18-Sep-2019 / 17:59 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.


The issuer is solely responsible for the content of this announcement.




- FinLab portfolio company Deposit Solutions closes financing round with participation of Deutsche Bank


- Deposit Solutions is valued at over EUR 1 billion as part of the transaction


- Revaluation of investment leads to write-up in excess of EUR 40 million in accordance with IFRS accounting standards



Frankfurt/Main, 18/09/2019 - The Hamburg-based FinTech company Deposit Solutions GmbH, a portfolio company of the listed Frankfurt-based company FinLab AG (ISIN: DE0001218063; Ticker: A7A.GR), today closed a financing round involving Deutsche Bank. Within this transaction Deposit Solutions will be valued over EUR 1 billion.



In accordance with IFRS accounting standards, the revaluation of FinLabs share in Deposit Solutions resulted in a write-up to the carrying amount of the investment of more than EUR 40 million. After the completion of the financing round, FinLab continues to hold a stake of approx. 7% in Deposit Solutions, which represents a total valuation of more than EUR 70 million in the IFRS balance sheet.

About FinLab AG:

Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A) 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 start-ups and providing venture capital for their financial needs, whereas 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 00











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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
EQS News ID: 875961





 
End of Announcement DGAP News Service




875961  18-Sep-2019 CET/CEST







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