German fintech Raisin lands €60m in Series E funding
Berlin-based fintech Raisin has secured €60 million in a Series E funding round featuring participation from a number of existing and new investors, including M&G’s Catalyst and Goldman Sachs.
Founded in 2012, Raisin offers consumers access to savings, investment and pension products. The firm also offers Banking-as-a-Service (BaaS) products for financial service providers and currently works with over 400 companies from more than 30 countries.
With the new investment, Raisin intends to develop new products and accelerate its growth in markets such as the US. Raisin entered the US in 2020 and already manages more than $1 billion in assets for customers.
The company says it recently passed the one million customer mark, for which a total of €850 million in interest has been generated since its inception.
Raisin has been profitable for half a year and currently manages a total of €38 billion in assets for customers globally. In the past six months alone, it claims its total assets under management has grown by more than 30%.
Raisin co-founder and chief financial officer Frank Freud says the new investment will help the firm continue to “democratise the global savings and investments market – benefiting consumers and financial institutions alike”.