Deutsche Bank acquires Better Payment

Germany's largest bank has acquired the Berlin-based fintech in its entirety. The purchase price was not initially disclosed.

Fintech Better Payment is now part of Deutsche Bank. The bank has announced that it has acquired the Berlin-based start-up in its entirety. Deutsche Bank did not disclose the purchase price. According to the portal financial scene portal, market experts assume that the purchase price is in the low double-digit millions.

Björn Bähre founded Better Payment in 2013. The start-up supports companies with the technical integration of various online payment methods, such as credit cards or PayPal. According to its own information, the fintech has more than 900 customers. With the acquisition, Deutsche Bank has secured the start-up's technology and also has access to Better Payment's customers. "Better Payment gives us broader market access in payment processing," says Kilian Thalhammer, Head of Merchant Solutions within Deutsche Bank's Corporate Clients division. "We will also tap into additional synergies by integrating the respective products of Deutsche Bank and Better Payment."

According to Deutsche Bank, both the management team and the employees of the fintech company will be able to remain on board. The headquarters of Better Payment will also remain in Berlin.