Deutsche Bank acquires Better Payment

Germany's largest bank has completely taken over the fintech from Berlin. The purchase price was not initially disclosed.

Fintech Better Payment is now part of Deutsche Bank. The bank 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 market experts assume a rather low double-digit million amount.

Björn Bähre founded Better Payment in 2013. The start-up supports companies in the technical integration of various online payment methods, such as for credit cards or Paypal. According to its own information, the fintech has more than 900 customers. With the purchase, Deutsche Bank secures the start-up's technology and also has access to Better Payment's customers. "With Better Payment, we get broader market access in payment processing," said Kilian Thalhammer, the head of "Merchant Solutions" within Deutsche Bank's corporate banking division. "We will additionally unlock synergies by integrating the respective products of Deutsche Bank and Better Payment."

Both the management team and the fintech's employees will be able to stay on board, Deutsche Bank said. Better Payment's headquarters will also remain in Berlin.