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DZ Bank invests in German receivables auction platform

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DZ Bank invests in German receivables auction platform

acquired a 25% stakein TrustBills GmbH, an electronic marketplace for selling internationalreceivables of companies to institutional investors.

Theacquisition marks DZ Bank's first strategic investment in a fintech company inthe corporate customer business. The lender said the deal will digitallystrengthen its corporate customer business in the face of increasingcompetition.

"Asshareholders we can exert influence on the further development of the companyin the interests of the cooperative financial network," said StefanZeidler, DZ Bank's managing director for corporate banking.

The companies decided to not disclose the price, accordingto the May 3 press release.