Deutsche Bank adds investment into AccessFintech 07 October 2020London Reporter: Maddie Saghir
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Deutsche Bank is the latest bank to make an investment in AccessFintech and has helped it secure $20 million in its latest Series B financing round.
The Series B round was led by Dawn Capital, Europe’s largest venture capital fund dedicated to B2B software.
Existing investors J.P. Morgan, Citi and Goldman Sachs contributed to the round, with Deutsche Bank making its first participation, bringing the total capital raised to date to $37 million since 2018.
AccessFintech will use the proceeds of the investment to fuel the next stage of its development, to accelerate product innovation, and to continue its market expansion and extend its partner ecosystem.
Commenting on the investment, CEO of AccessFintech Roy Saadon said: “We are thrilled to partner with a firm of the calibre of Dawn Capital who have an exceptional track record in working with fast growing companies in the fintech sector and who fully support our strategy.”
Saadon continued: “We are also excited to have worked with J.P. Morgan, Citi, Goldman Sachs and Deutsche Bank in this round – they are important partners for us in our vision of collaboration to maximise efficiencies across the market.”
Stephen Bell, global head of FIC and securities services at Deutsche Bank, added: “Partnering with and investing in fintech firms as well as developing in-house expertise is essential to be at the cutting edge of financial services, as clients seek quicker and simpler electronic applications of previous processes. We are pleased to be co-investing in AccessFintech who have proven experience, creativity and expertise in driving efficiency and solving problems in the context of the global capital markets.”
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