I remember few years ago couple of German fintech startups reached more than 1B$ valuation. Had it been the case in US, those startups would have gone IPOs and started expanding worldwide.

However, raising capital in Europe/Germany is so hard. Still majority of the Germans don’t invest their money and just let it depreciate in their savings accounts. Because of that most startups are funded by US venture capitalists. Hope this one would be able to sustain the valuation