Published: 2nd October, 2023
Last Updated: 22nd March, 2024


  • 30 minutes to set up the Pile account
  • 20 hours saved every week for the founding team
  • +20k additional money return on their business model

About the company

Management team: Matteo
Industry: Fintech
Debtist was co-founded by Matteo Benedetti, Tony Zabel, and Brandon Baumgarten in early 2023. The German-based startup is vying to reshape receivables management by tightly embedding legal dunning services into various B2B SaaS solutions’ core value chain.
Debtist x Pile
Matteo Benedetti
Pile is our preferred partner for treasury and banking. Their setup was quick and the interface keeps improving with more banking options for our future needs.

Matteo Benedetti

CEO and Co-founder


The challenge

As a new fintech company in Germany, Debtist ran into challenges when trying to open a bank account, a common struggle for financial businesses. Dealing with payment reminders and collections was tough because not many banks supported these processes, especially with a team scattered globally. Finding the right bank took a while, and none of them offered good interest rates. Even after getting a big pre-seed funding, Debtist hesitated to use the money, worried about a complicated process. They also didn't want to mess up their money flow and needed to keep a close eye on cash all the time, avoiding any lock-up of funds in long-term products.

The Solution

Growing rapidly, Debtist couldn't afford the hassle of complicated back-office tasks and needed an instant solution. That's where Pile stepped in: setting up the account took only minutes, and after integrating existing banking connections, it provided a comprehensive view. The straightforward "top-up" feature allowed easy allocation of funds from the financing round to the treasury account, generating additional returns that covered significant costs. Future revenues are seamlessly directed to the treasury account, earning interest before being reinvested for future growth. This liquid solution, without the need for a reference account, maximizes the time Debtist can earn money on their unused capital.

The Outcome

In the end, Pile proved incredibly straightforward for Debtist, delivering cost savings, time efficiency, and generating extra resources for potential future hires or growth initiatives. The instant access to the account and funds is particularly convincing, enabling daily liquidity management without the restrictions tied to term deposits or public market investments. Both the board and Debtist's investors fully endorse the savings feature, preferring it over ETFs or other investment products for treasury management. Pile has proven to be an ideal starting option for Debtist's financial needs.
Want to see what convinced the Debtist team to start with Pile? Book a Demo and get a guided tour of the platform.
Jessica Holzbach, CEO and Founder
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  • What is Pile?

    Pile is a treasury service app for high-growth startups from seed to Series C, as well as business angels and venture capitalists. Pile includes a bank account and access to various product features such as fixed deposits and overnight money, and allows you to set up your entire banking setup across multiple banks and view everything in a single dashboard overview. Pile helps you grow, manage and keep your capital safe.

  • Why should I use Pile?

    If you're a high-growth startup or work with venture capital in general, you're probably looking for a place to keep your capital safe but also effective. Pile helps you do that.It's the central place where the European startup scene keeps their money - with pooled views across multiple bank accounts and access to a range of financial instruments from fixed deposits to overnight money.Whether you are just starting to build a good bank portfolio or already have two to three accounts spread across Europe, Pile is the best option to keep everything in view and therefore under control.

  • How much does Pile cost?

    Pile's services are available from a basic fee of €29 per month, which covers both the cost of the bank account, connecting external bank accounts and access to financial products such as fixed deposits or overnight money. For further features, such as automated payments, different price plans are available depending on the size of your business and the number of bank accounts you want to integrate, as well as the amount of capital deposited.

  • Is Pile a bank?

    Pile itself is not a bank, but a technical service provider that does not offer regulated financial services. All regulated financial services are operated by our banking partner, Swan, who are a registered e-money institution and a EBA-STEP2 BNP Paribas SEPA Indirect Participant, thereby under the supervision of the European Banking Association, BaFin in Germany and ACPR in France.

  • What are the requirements to open a Pile account?

    To open an account with Pile, your business must be based in Europe and registered with the local tax authority. We welcome businesses of all stages of development and sizes.

  • How long does it take to open a Pile account?

    Registration takes about 10 minutes. The account approval process depends on the partner bank's Know-Your-Business (KYB) and Know-Your-Customer (KYC) processes, which usually just takes a couple of hours, depending on the complexity of your business structure.

  • How are my deposits protected?

    All Pile partner banks belong to the European Deposit Guarantee Scheme, which means that in the event of a bank insolvency, deposits up to €100,000 are protected and will be returned in full within seven working days. At the same time, Pile makes sure to work with the best and most secure banks, to provide a hassle free financial service.

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