Varengold Bank AG is a German bank founded in 1995 in Hamburg. In addition to its headquarters in Hamburg, we have a location in Sofia. Our core businesses are Marketplace Banking and Commercial Banking / Transaction Banking. Especially in Marketplace Banking, we see tremendous growth potential.
There are online marketplaces around the world that deal with the financing of companies and consumers (peer-to-peer platforms). They offer customers significantly faster, easier and therefore more agreeable loan processing than established banks. In addition, due to more efficient processes, these Fintechs can also facilitate financing for customers who fall outside the bank's target grid. For this they need financial resources. Providing these resources and giving people access to banking services is our core task as a bank. That's why we finance marketplaces and help them realize their business idea.
In addition, we support FinTechs in all other matters with services and bank modules. Especially in lending, they benefit from our full-license and the modular structure of our processes. You can choose services and bank modules specifically to your liking. Our goal is to become the bank in Marketplace Banking as a partner of FinTechs.
In transaction banking (or commercial banking) we work successfully for foreign trade-oriented clients in niche markets. We believe that foreign trade increases wealth and builds trust between trading partners. We provide our customers with basic products such as account relationships and international payment transactions and products for trade finance through, for example, credit orders or guarantees.
Varengold has had a full-bank license since 2013 and is a member of the Compensation Scheme of German Banks (EdB). The associated statutory deposit guarantee protects a total of 100,000 Euros per customer. Since 2007, the Varengold stock (ISIN: DE0005479307) has been listed in the Open Market of the Frankfurt Stock Exchange. At our head office in Hamburg as well as in our branch in Sofia, we employ a total of more than 100 people.