Newsletter: 19th Jan. 2018

Two million euros for the InsurTech startup Covomo 

The Frankfurt-based FinTech Covomo focuses on the comparison of special and supplementary insurance for, for example, travel, pets, electronic devices and sports equipment. In a new round of financing, the startup has now taken more than two million euros.

Millions in investment for Cologne Fintech startup Entrafin

The fintech startup Entrafin gets in a round of financing a single-digit million. The venture capital fund S-UBG and the Münster consultants Bernd Rolfes, Stefan Kirmße and Patrick Tegeder are investing in the company for the first time. Also involved is the old investorDieter von Holtzbrinck Ventures (DvH Ventures) .

Oval Money in overfunding- your last chance to get involved!
We launched the Oval Money campaign on Monday evening and in just 72 hours we reached our goal of £500,000. This is an amazing result for a startup and we are incredibly proud. More than 500 investors backed Oval money for over £550,000, believing in the mission and values of Oval and the potential of our product.

Savedroid’s ICO Pre-Sale a success 

The fintech company Savedroid, which previously marketed itself primarily as a digital money bank, had recently announced an Initial Coin Offering (ICO), ie the issue of its own digital value brands based on the Bitcoin concept. Although the official sale of the total of 6 billion “SVD tokens” will begin in only four weeks. But now, in a presale, the company sold 500 million digital coins worth five million euros – in just seven hours.

 Cologne startup Nextmarkets receives banking license

The Cologne FinTech startup Nextmarkets  announces that it has gained approval as a securities trading bank with its Maltese subsidiary. According to company information, customers should be able to open an account during the first quarter of 2018 and trade in real money. So far, that was only possible with virtual money on the platform. 

Debitos Debt Collection Brings IT Experts from Citibank

Frederik Tylleman becomes the new CTO of Debitos by switching to Frankfurt’s first-generation FinTech. The marketplace for non-performing loans (NPLs) is to be raised by him to a new technological level.

Are German startups ready for the new data protection?

In May, the new General Data Protection Regulation comes into force and German startups face fierce fines. The first panic voices grow loud. The president of the Bundesverband Digitale Wirtschaft, Matthias Wahl, speaks of a “existence danger” for German tech companies .