Finance management platform Dwins has secured an investment of just under €1m from Deutsche Bank, for a 25 per cent stake.
After the first of December Deutsche Bank customers will gain exclusive access to the Financial Guru application. Next year the platform will be made available to other members of other banks.
Dwins is a finance management platform that allows users to manage contracts. The platform keeps track of a user’s deadlines, and is able to cancel the deal if needed. Powered by AI technology, the solution is able to recognise any savings a user could make through better offers.
Deutsche Bank has made a range of investments into the FinTech sector this year, with the firm having acquired a 12.5 per cent stake in trade receivables company TrustBills. A few months back, the firm sold its private equity access fund to iCapital Network. The platform is made up of 33 funds which have a range of investment strategies and has around $2.5bn invested in assets.
The German WealthTech sector was the fifth biggest area of FinTech in the country last year. Companies specialising in that sector raised a total of just under $63m, and was only just beaten by infrastructure and enterprise software and InsurTech. The country is dominated by marketplace lending companies, with the sector seeing nearly $100m more invested than WealthTech.
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