Estonian fintech startup Depowise enters the German market

Estonian fintech startup Depowise has announced its expansion into the German market. 

Depowise is a fintech company that provides artificial intelligence-based technology solutions for asset servicing. It offers automated supervision, transaction monitoring and digital safe storage to optimize and improve the efficiency of financial institutions. Depowise was founded by Sven Peekmann, Artur Reiter, and Mait Poskai in Tallinn, Estonia in 2021. 

The Estonian company has already attracted customers in nine European countries, including financial centers such as Luxembourg, the UK, Switzerland, the Netherlands and Sweden. Its solution is used to protect assets worth more than 1.5 trillion euros worldwide. Last year, Depowise achieved 200% year-on-year revenue growth and doubled its workforce to meet growing demand.

But to grow further, the company decided to enter one of the largest and most demanding asset servicing markets in Europe with a volume of €4 trillion. Frank Becker, former Vice President of the American investment company BlackRock, will be in charge of this direction.