Deutsche Bank teams up with accelerator to back fintech startups

Deutsche Bank is joining forces with startup accelerator Axel Springer Plug and Play to back banking and insurance startups with cash and other support.

As an exclusive Axel Springer Plug and Play partner, Deutsche Bank will help select and finance up-and-coming fintech firms, as well as offer them access to its Innovation Labs and its Digital Factory in Frankfurt.

Markus Pertlwieser, chief digital officer, private, wealth and commercial clients corporate division, Deutsche Bank, says: “For us, this is a strategic step towards accelerating the digital transformation of our core business and investing in new digital business models.”