Deutsche Bank, AXA Back Financial Management Startup Zeitgold

Deutsche Bank and French insurance giant AXA SA backed Berlin-based financial management startup Zeitgold GmbH as part of a 10 million euro funding round. Zeitgold announced the round on Monday. Existing investors Battery Ventures and HV Holtzbrinck Ventures also participated in the round, joined by Saban Ventures and Swiss venture firm Btov Partners. To date, Zeitgold has raised 24 million euros.

Zeitgold develops a mobile app designed for small businesses, allowing users to perform financial tasks such as booking and accounting. The company was founded in 2015 by Stefan Jeschonnek and Jan Deepen, who previously co-founded fintech company SumUp Payments Limited, together with Israel-born entrepreneur Kobi Eldar, who serves as the company's chief technology officer. The company operates a research and development center in Tel Aviv.

Stefan Jeschonnek (left), Kobi Eldar, and Jan Deepen. Photo: PR