Dock Financial apparently joins Compeon

According to a media report, the Munich-based company is acquiring ten percent of Compeon's shares.

Fintech invests in fintech: As Finance Forward reported, Munich-based start-up Dock Financial has acquired ten percent of the shares in the young Düsseldorf-based company Compeon. Neither start-up wants to comment on the purchase price, according to the magazine. Finance Forward reckons with a mid to high single-digit million amount.

Compeon primarily arranges financing offers for small and medium-sized companies. According to the start-up's own information, 50,000 companies already rely on the service. Dock Financial sees itself as an infrastructure provider for banking and payment solutions and wants to support financial service providers and insurance companies in digitization.

In the course of Dock Financial's entry into Compeon, both start-ups want to launch a joint credit card offering for SMEs. Dock Financial has the necessary e-money license from the German Federal Financial Supervisory Authority (Bafin) for this. Compeon, in turn, has the contacts to the numerous medium-sized companies.