Berlin-based Fintech Raisin Announces €60M Series E

The Berlin-based Fintech Raisin has raised €60 million in a series E funding round, from existing and new investors.

The global savings and investment specialist recently “exceeded 1 million customers, for which a total of €850 million in interest has been generated since founding the company in 2012.”

Raisin claims it “has been profitable for half a year and currently manages a total of €38 billion Assets under Management (AuM) for customers globally.”

In the past 6 months alone, AuM reportedly “grew by more than 30%.”

Raisin further claims it is “experiencing high demand from consumers looking for competitive savings rates, and banks looking for attractive retail funding sources.”

With the new investment, Raisin says that aims “to give more consumers access to simple and convenient products by investing in new features, even simpler processes and broader accessibility, and to accelerate growth in expanding markets such as the United States, where Raisin entered in 2020 and added over $1 billion AuM in 2022 alone.”

Raisin further reveals that it has “raised money in this round from two new investors – a global financial services institution and M&G’s Catalyst, a $6 billion purpose-led global private assets strategy – and from existing investors such as Goldman Sachs.”

Dr. Frank Freund, Chief Financial Officer and Co-Founder of Raisin, comments:

“We are delighted to continue our growth trajectory together with our partners and to welcome our new investors in our mission to make money perform better. The investment marks another important step in our objective to provide savers throughout the European Union, the United Kingdom and the United States with straightforward and fair products. As a Fintech pioneer, we provide the infrastructure to democratize the global savings and investments market – benefiting consumers and financial institutions alike. With the new commitment, we will be better positioned to bring value to even more consumers and partners. We are thrilled that we can thereby make a valuable contribution to the functioning and the efficiency of the financial market.”

Niranjan Sirdeshpande, Head of Global Investments for M&G Catalyst, added:

“We are excited to be supporting Raisin’s impressive growth story as they seek to improve outcomes for savers of all ages across Europe, the UK and US and reduce barriers and inefficiencies in the financial system.”

Raisin was “supported by Goldman Sachs Bank Europe who acted as sole placement agent on the transaction.”

As covered, Raisin claims it is “the trailblazer in the savings and investment space.”

Founded in 2012, the Fintech company started by “opening the $95+ trillion deposits and investments market of the European Union, the United Kingdom and the United States to consumers.”

Today, Raisin says it “serves more than one million customers in these three markets offering not only savings products but also a multitude of investment and pension products.”

This reportedly makes the Berlin-based Fintech “one of the leading global savings and investments marketplaces.”

Savers get “a wider choice of attractive products with the ability to move their money freely. In addition, financial service providers get best-in-class marketplace solutions for their customers, and banks get better access to retail funding.”

Raisin operates its own B2C marketplaces in Europe “under the brands; Raisin, WeltSparen and ZINSPILOT and in the USA under the SaveBetter brand.”

In Germany the company “offers ETF-based investment and retirement products as well as Private Equity and Crypto investments, in addition to savings products.”

Raisin works “with over 400 banks and financial service providers from more than 30 countries. Raisin has €38 billion AuM and earned over 850 million for customers globally.”

Raisin is reportedly “backed by renowned international investors such as btov Ventures, Deutsche Bank, Goldman Sachs, Greycroft, Headline, Index Ventures, Kinnevik, Latitude Ventures, Orange Ventures, PayPal Ventures, Thrive Capital, Top Tier Capital Partners, Ribbit Capital, Vitruvian Partners and M&G.”

The company “has offices in Berlin, Frankfurt, Hamburg, Madrid, Manchester and New York.”

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