Raisin, a Pan-European savings marketplace, received a €25m investment from Goldman Sachs.
The company, which recently raised a Series D round of €100m, intends to use the funds to consolidate its position in the savings and investment area in Europe and launch in the USA.
With the new funding, which brought the total volume of primary investment to €195m, Raisin will build its stateside presence to prepare a 2020 launch in the $12.7 trillion U.S. savings market, as well as enter two new European markets within 2019.
Founded in 2012 by Dr. Tamaz Georgadze (CEO), Dr. Frank Freund (CFO) and Michael Stephan (COO), Raisin provides platforms which offer access at no charge to guaranteed deposit products from all over Europe, as well as globally diversified, cost-effective ETF portfolios in cooperation with Vanguard and DAB BNP Paribas (currently available in Germany).
With one online registration, customers can choose from all available investments and manage their accounts.
Since launch in 2013, Raisin has brokered €14 billion for more than 185,000 customers across the European continent. Offering consumers more than 480 savings products from 80 European partner banks. The company has also built distribution partnerships with N26, Commerzbank, o2 Banking of Telefónica Germany and Yolt among others.
Following the acquisition in 2017 of Manchester-based PBF Solutions — today Raisin UK (raisin.co.uk) — the startup bought its long-time servicing bank MHB-Bank in early 2019. Now, the fintech aims to further advance its technology, acquire talent, and broaden its product portfolio.
Today, Raisin has six country specific savings platforms in Germany, United Kingdom, France, The Netherlands, Spain, Austria and a dedicated com-platform for 28 European countries. It is backed by Index Ventures, Orange Digital Ventures, PayPal, Ribbit Capital and Thrive Capital.