In the marketplace banking division, the bank supports online marketplaces that deal with the financing of companies and consumers peer-to-peer platforms. Varengold finances the growth of fintech companies and provides them with products requiring a banking license fronting services. The bank also has a customer base for trade finance transactions e.
Varengold was founded in by Yasin Sebastian Qureshi and Timur Coban as an asset management boutique. In June Varengold was granted a license as a deposit-taking bank. Since 20 March , the Varengold shares have been listed in the unofficial market of the Frankfurt Stock Exchange in the Entry Standard market segment. The Varengold investment subsidiary was involved in cum-ex transactions.
As of , possible claims in the high double-digit millions still burden the bank's balance sheets. The public prosecutor's office in Cologne is investigating the former responsible persons from Varengold due to a particularly serious case of tax evasion. In August , the credit house was searched by investigators due to the cum-ex investigations.
On June 27, , BaFin prohibited Varengold Bank AG from conducting transactions with "payment agents" and other third parties related to Iran due to high money laundering risks and serious deficits in money laundering prevention. Contents move to sidebar hide.
Article Talk. Read Edit View history. Tools Tools. Download as PDF Printable version. In other projects. Wikimedia Commons Wikidata item. German investment bank. Traded as. Divisions [ edit ]. History [ edit ]. Criticism [ edit ]. References [ edit ]. Varengold Bank in German. Retrieved 27 March Unicorn Fintech Solutions. Retrieved 14 August BaFin in German. Market Watch.
