Left to right: Dr Tamaz Georgadze (Founder), Katharina Lüth (Chief Client Officer & MD), Michael Stephan (Founder) and Dr Frank Freund (Founder) | Image credit: Raisin
Berlin-based Raisin, a pan-European fintech marketplace for savings and investment products, announced on Thursday 23 March that it has secured €60 million in a Series E funding round.
The company recently reached one million customers, and claims it has generated €850 million in interest for them since its inception in 2012.
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Raisin also claims to have been profitable for half a year and currently manages a total of €38B in Assets Under Management (AuM) for clients globally. During the last 6 months, the assets under management have grown by more than 30 per cent.
Investors in this round
The investment came from existing and new investors. The two new investors include a global financial institution and M&G’s Catalyst, a US$6 billion targeted global private asset strategy. Existing investors include Goldman Sachs.
Niranjan Sirdeshpande, Head of Global Investments for M&G Catalyst, says: “We are delighted to support Raisin’s impressive growth story as they seek to improve outcomes for savers of all ages across Europe, the UK and the US and reduce barriers and inefficiencies in the financial system.”
Raisin’s existing investors also include btov Ventures, Deutsche Bank, Greycroft, Headline, Index Ventures, Kinnevik, Latitude Ventures, Orange Ventures, PayPal Ventures, Thrive Capital, Top Tier Capital Partners, Ribbit Capital and Vitruvian Partners.
Rosin: Everything you need to know
Founded in 2012 by Dr Tamaz Georgadze, Dr Frank Freund and Michael Stephan, Raisin provides the framework to democratize the global deposit, investment and pension markets, for the benefit of individuals and financial organizations alike.
The fintech company started by opening the $95T+ deposit and investment market in the EU, UK and US to consumers. It currently serves more than one million users in these three markets.
The Raisin network connects savers and financial institutions to its markets in Europe and the US. Financial organizations can also tap into the company’s ecosystem to set up their own marketplaces or transform their companies into Banking-as-a-Service options through Raisin Bank and Raisin Technology.
Raisin also operates its own B2C marketplaces in Europe under the Raisin, WeltSparen and ZINSPILOT brands, and in the US under the SaveBetter brand.
In Germany, the company offers ETF-based investment and pension products and Private Equity and Crypto investments in addition to savings products.
Capital utilization
Raisin says there is demand from users looking for competitive savings rates and from banks looking for attractive sources of financing for private customers.
The capital raised will be used to accelerate growth in emerging markets such as the US, where Raisin entered 2020 and added more than $1 billion in assets under management in 2022 alone.
The company now aims to increase consumers’ access to simple and practical products by investing in new functions, even simpler processes and wider availability.
Dr Frank Freund says: “With the new commitment, we will be better positioned to bring value to even more consumers and partners. We are delighted that we can thus make a valuable contribution to the functioning and efficiency of the financial market.”
About M&G
M&G Investments is part of M&G plc, a savings and investment business with over $400 billion in AUM. The firm has clients in the UK, Europe, America and Asia, including individual savers and investors, life policy holders and pension scheme members.
For almost nine decades, M&G Investments has helped clients by putting investments to work, which in turn create jobs, homes and important infrastructure in the real economy.
Its investment solutions span equities, fixed income, multi-asset, cash, private debt, infrastructure and real estate.
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