FinTech Raisin lands €60 million in Series E, exceeds 1 million customers

By Gloria Methri

Berlin-based FinTech Raisin has raised €60 million in a Series E funding round, from existing and new investors. The global savings and investment company had recently passed 1 million customers and generated a total of €850 million in interest since its establishment in 2012.

With the new funds, Raisin aims to invest in new functions, to give more consumers access to simple and practical products. FinTech also looks set to accelerate growth in expanding markets such as the US, where Raisin entered in 2020.

Raisin has raised money in this round from two new investors – a global financial institution and M&G’s Catalyst, a $6 billion targeted global private asset strategy – and from existing investors such as Goldman Sachs.

Dr. Frank FreundCFO and co-founder of Raisin said, “We are delighted to continue our growth trajectory together with our partners and to welcome our new investors in our aim to make money to perform better. The investment marks another important step in our aim to empower savers across the EU , UK and US simple and fair products.”

“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.”

Niranjan Sirdeshpandehead of global investments for M&G Catalyst, added, “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 was backed by Goldman Sachs Bank Europe which acted as sole placement agent on the transaction.