Varengold Bank has unveiled plans to set a fintech hub in Berlin, Germany to better serve its current as well as potential clients.

Since 2015, Varengold Bank is focusing on fintech financing and online credit platforms as a part of a strategy to streamline its revenue.

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The new fintech hub in Berlin will be the bank’s fourth location after Humburg, London, and Sofia.

Varengold Bank member of the board of Managing Directors Fran Otten said: “The new fintech hub will add value for our current customers in Berlin because we can provide them with even better service than before.

“In addition, we will be able to strengthen our ties to potential customers by immersing ourselves more deeply into Germany’s most exciting fintech scene.”

Varengold Bank in its press statement said that it is searching for ‘suitable candidate’ to head the Berlin fintech hub.

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Founded 25 years ago, Varengold Bank supports online marketplaces that deal with the financing of companies and consumers. It received its full banking licence in 2013.

The bank offers a suite of products and services including funding, debt and equity capital market products, fronting services such as banking license and international payments services.

Varengold Bank is registered with the Federal Financial Supervisory Authority (BaFin) and has been listed on the open market of the Frankfurt stock exchange since 2007.