Estonian FinTech startup Depowise is expanding to Germany. The company wants to become the AI-driven engine powering next-generation asset servicing in one of Europe’s most sophisticated financial markets, with a volume of €4 trillion.
Founded three years ago, Depowise has already secured customers across nine European jurisdictions, including financial hubs such as Luxembourg, the UK, Switzerland, the Netherlands, and Sweden. Its solution is used to safeguard over €1.5 trillion in serviced assets globally. In 2024, the company achieved 200% YoY revenue growth and doubled its team to meet increasing demand. To power the next ambitious leap, it will expand to a new market, the startup announced in a press release.
“Germany is home to one of Europe’s largest and most demanding asset servicing landscapes. Institutions here need a high-performance engine to navigate regulatory demands, operational complexity, and rapid scaling,” says Artur Reiter, Co-Founder & Co-CEO of Depowise. “That’s exactly what Depowise delivers—an AI-powered solution designed to drive the industry forward.”
Depowise has appointed Frank Becker, former VP at BlackRock for the eFront Private Markets solution suite, to accelerate this mission as Head of Solution Engineering. He will spearhead solution engineering efforts and act as a key partner for German financial institutions, reinforcing Depowise’s presence in the German-speaking market.
Frank Becker
“We are thrilled to welcome Frank Becker to our team,” says Sven Peekmann, Co-Founder & Co-CEO. “With him in the driver’s seat of our German expansion, we are confident Depowise will become the go-to engine for asset servicing automation in the region.”
With two decades of experience in various roles across asset servicing, portfolio, and asset management technology, Frank Becker brings a wealth of expertise to Depowise. At BlackRock Solutions and eFront, Frank Becker drove enterprise deals, expanded market reach across EMEA, doubled Germany’s client base, and led strategic initiatives, demonstrating his ability to scale technology solutions in the financial services sector.
“The asset servicing industry is at a turning point, and technology will define its future,” says Mr. Becker. “It’s like upgrading from a typewriter to a high-performance computer paired with Artificial Intelligence — faster, more efficient, and significantly more convenient,” Mr. Becker explains Depowise’s superiority, “If you had access to cutting-edge technology, you wouldn’t hesitate to make the switch.”
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