Deutsche Bank AG helps startups to find a lifelong home, and it’s launched a special initiative to make startups feel welcome. While the bank certainly does a lot of business with much bigger corporations, it also has a specialized team to ensure great service for start-ups throughout the businesses’ life cycle, says Antje Uhlig, Team Head of Start-ups@Berlin at Deutsche Bank AG.
“Our intention is to build a long-term mutual relationship,” says Uhlig. “This begins with the very first meeting, where bankers learn about the client’s business model, and may end when the founders sell their company or the company has its IPO.”
To make that happen, Deutsche Bank has created a team
called Start-ups@Berlin. This branch of the multinational bank is staffed with people with many different skillsets and work backgrounds who have been working with entrepreneurs for over 5 years. The goal is to provide a one-stop shop for entrepreneurs to begin the financial aspects of their business, and then to help startups expand internationally.
The team starts working with startup founders on the very basics of business cash management: an operating account and a credit card. And as a business grows, Deutsche Bank is equipped to help it take the next steps, including doing what is needed to help a business branch out internationally. The startup team at the bank is well versed in regulations and requirements in many different countries, easing transitions as companies grow and expand to other countries.
“If our clients are making the leap into an attractive and growing market somewhere in the world, the chances are high that Deutsche Bank is already there,” Uhlig says. “Our global presence is a major benefit to these clients when it comes to cash management account structures, cross-border payments, currencies and accounts abroad.”
Currently, the bank is focusing on connecting with fast-growing internet startups in Berlin, which are international right from the beginning. Deutsche Bank’s startup team believes Berlin is a great place to set up such a collaboration, as there is so much going right in the city to foster and support startups.
“Berlin offers superb infrastructure, including universities and other scientific institutions; it attracts many young and qualified people, and even rental costs are still significantly lower than in any other major European city,” Uhlig says.