FinTech companies Deposit Solutions and Raisin have announced the completion of their merger.
After over a year of preparation, the two companies are forming Raisin DS, a provider of savings and investment market solutions, servicing banks and consumers on both sides of the Atlantic.
Deposit Solutions is a B2B Open Banking platform in the savings deposit space. The company operates deposit marketplaces for over 150 partners, including large institutions such as Deutsche Bank, and connects them with deposit-taking banks from all across Europe.
Led by Dr. Tamaz Georgadze, CEO and co-founder, Raisin is a pan-European B2C platform for savings and investments. Its marketplaces offer consumers access to competitive deposit products from all across Europe. In Germany, the company also offers globally diversified, cost-effective ETF portfolios and ETF-based pension products.
Raisin DS provides an open banking infrastructure for the global $50+ trillion deposit market. The company operates its own B2C platforms across Europe under the Raisin, WeltSparen, Savedo, and ZINSPILOT brands, and in the U.S. under the brand SaveBetter. In Germany, in addition to savings products for retail and corporate clients, the company also offers ETF-based investment and pension products. Raisin DS collaborates with around 400 banks and financial services providers from more than 30 countries. The company is servicing over 550,000 direct customers. Raisin DS is backed by renowned international investors such as btov Ventures, Deutsche Bank, FinLab, Goldman Sachs, Greycroft, Headline/e.ventures, Index Ventures, Kinnevik, Orange Digital Ventures, PayPal Ventures, Thrive Capital, Top Tier Capital Partners, Ribbit Capital, and Vitruvian Partners, as well as Peter Thiel. Raisin DS has offices in Berlin, Frankfurt, Hamburg, London, Madrid, Manchester, Milan, New York, Paris, and Zurich.
As Raisin DS, both companies will now be able to unite the B2B offering and Europe’s B2C savings marketplaces under one single brand. Both companies’ current management will take over leadership roles at Raisin DS. Thus, both CEOs – Dr. Tamaz Georgadze and Dr. Tim Sievers – will initially lead the new company as co-CEOs. Dr. Tim Sievers will then move to the company’s Advisory Board at the end of the year.
Going forward, Raisin DS plans to invest in its platforms, extend the product range and expand into further markets.
FinSMEs
05/07/2021