Fintech companies received investments from German banks since 2020, as illustrated in the infographic
In the dynamic world of finance, German banks have been making significant strides in supporting the growth of fintech and insurtech startups. Over the past four years, these institutions have invested in 109 startups, with 101 being fintechs and 8 being insurtechs.
One of the most active players in this space is Commerzbank, which has invested in 25 fintechs and 3 insurtechs over the same period. Another notable participant is Berliner Volksbank, whose venture capital arm, Berliner Volksbank Ventures, has also invested in fintechs.
German banks are not directly investing in startups but are instead channelling their investments through venture capital funds. KfW, for instance, invests in various venture capital funds, including those focused on fintech, such as 13books Capital, Blackfin Capital Partners, and Notion Capital.
The corporate venture capital unit of Deutsche Bank has also been active, investing in 11 financial startups during this time. A joint fund called VR Ventures, involving several cooperative banks, is another significant player, with members including Bank 1 Saar, Rheingauer Volksbank, Verbund Volksbank OWL, Volksbank Bielefeld-Gütersloh, Volksbank Kassel Göttingen, Volksbank Rhein-Ruhr, VR-Bank Südpfalz, and VR-Bank Würzburg.
While global fintech investment activities have been decreasing since 2021, investments by German banks fluctuate strongly. In 2021, there were 33 investments in fintechs by German banks, which fell to 10 in 2022, rose to 23 in 2023, and has fallen again to 14 in 2024.
The focus of these investments is primarily on blockchain technology, including areas like tokenization, payment solutions, custody services, and digital asset infrastructure. A prime example of this is Solaris bank, which secured over $100 million in funding, backed by Japan’s SBI Group, reflecting significant interest in fintech innovation within the country’s banking sector.
German banks are also expanding adoption of advanced technologies like natural language processing (NLP) in finance, which supports compliance, risk management, and automating advisory services—areas critical for insurtech and fintech development.
It's worth noting that the data for this report comes from public databases, newspaper articles, and press releases. However, it does not claim completeness, and the community is encouraged to share further tips for the ultimate list of all investments since 2020.
Sophie Deistler, a financial journalist, authored this article. She is studying Socioeconomics in her Master's at the University of Duisburg-Essen and has a Bachelor's degree in Social Sciences from the University of Cologne. She completed a journalism training at the Cologne Journalism School.
Interestingly, LBBW VC, the independent venture capital arm of Landesbank Baden-Wuërrtemberg, focuses on information technology and life science startups and does not appear in this overview.
The investments largely target modernization of financial infrastructure such as international payment systems, tokenized assets, stablecoins, and custodial services rather than retail crypto product offerings. This trend aligns with German banks being part of the broader EU and global trend investing heavily in blockchain-based financial services and infrastructure.
In summary, from 2020 to 2024, German banks led or supported major fintech investments centered on blockchain innovation and digital asset infrastructure, with Solaris’s $100 million funding as a flagship deal, complemented by increasing adoption of fintech/insurtech enabling technologies like NLP for regulatory and risk management improvements.
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