FinLab portfolio company FastBill forms groundbreaking cooperation with DATEV

Frankfurt am Main, October 19, 2017 - one of the newest portfolio companies of FinLab AG (ISIN: DE0001218063; Ticker: A7A.GR), FastBill GmbH, has now concluded a strategic cooperation with DATEV that sets the new standards for the digitalization of tax preparation processes and will thereby simplify life considerably for German entrepreneurs and their tax accountants.

As the leading German SaaS provider of financial management for small enterprises, FastBill has won an important partner in DATEV, the market leader in software for tax accountants. The cooperation will make it easier for enterprises and tax accountants to work together. Recurring tasks no longer need to be performed manually but are carried out in the background automatically via the technical interfaces of DATEV and FastBill.

FastBill relies on strong partners and intelligent interfaces when expanding the scope of functionality of its software solution. In this way, data can be shared among individual services simply, completely, securely, and in a structured manner. These practices will now be applied in the cooperation with DATEV as well.

Through this cooperation, their combined strengths will deliver even simpler accounting and financial management for German companies. Businesses will save a lot of time in their daily routines because the use of the interface spares them from doing paperwork. Tax accountants will also be supported in the digitalization of processes since financial documents and metadata are entered in DATEV software in a complete and structured manner.

The procedure is simple. Incoming and outgoing invoices stored in FastBill will be transmitted to tax accountants at the touch of a button over DATEVconnect online as document images with document information. DATEV and FastBill complement each other perfectly. Monthly financial statements for German companies have never been so simple.

"Current accounting processes are even now following a completely obsolete model and have not substantially developed any further for decades," stated René Maudrich, Managing Director of FastBill GmbH. "We make it possible to have completely digitalized cooperation between companies and their tax accountants through technical integration with DATEV Enterprise Online. This is the first step into the new world."

With the certification of integration through DATEV, FastBill has joined the small group of elite software companies that already employ a completely digital exchange of financial documents and data in practice.

About FastBill GmbH

FastBill GmbH is a pioneer in web-based financial management for small businesses and the self-employed. With its SaaS solution "fastbill.com", the company offers a platform to manage financial documents and data in one place, as well as interfaces suitable for data exchange with tax accountants and related services. FastBill combines invoicing, real-time banking and assistant services in one simple user interface. This hands-on solution helps clients always keep track of their liquidity, receive payments faster and get their accounting done automatically. FastBill's foundation is an internally-developed platform technology with a high degree of automation. Machine learning algorithms also provide for intelligent data analysis and smart assistant services. All data is processed and stored in high-security data centers in Germany. FastBill was founded in 2011 and currently employs 42 people.

Media contact:
FastBill GmbH
René Maudrich
presse@fastbill.com
http://www.fastbill.com
Tel: +49 69 348 772 913

About FinLab AG:

Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A.GR) is one of the first and largest company builders and investors focused on the Financial Services Technologies ("FinTech") sector. FinLab focuses on developing German FinTech startups and providing venture capital for their financial needs, whereas in each case the aim is a long-term participation and ongoing support of the investment. FinLab also invests globally, as part of venture rounds, in FinTech companies, primarily in the USA and Asia.

Media contact:
FinLab AG
investor-relations@finlab.de
http://www.finlab.de
Tel: +49 69 719 12 80 0

About DATEV Enterprise Online

DATEV Enterprise Online is a web-based platform that ensures smooth exchange of documents between tax accountants and companies. The software is in compliance with the German principles of orderly accounting and can also present payroll information. DATEV Enterprise Online is available starting at 9 Euro per month.