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Volksbank Ventures invest in figo APIs

Monday 27 March 2017 | 10:19 AM CET

figo, a Hamburg, Germany-based banking service provider, has raised a funding round of undisclosed amount from Volksbank Ventures.

Berliner Volksbank Ventures made the investment joining a group of investors including angels and DB1 Ventures, the investment vehicle of Deutsche Börse, according to FinsSmes. The startup will use the funds to continue to expand its operations.

figo is building a banking API that enables partners to connect to banks and other financial services. The company offers clients and collaborates not only banking API, but also various products and services within the context of the amended Payment Services Directive 2 (PSD2). Currently, it connects 3,100 sources of finance with over 55 million users.

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