Berlin-based Raisin snaps up new funding from the global investment group after already raising a massive €100m Series D round in February 2019.
The startup supplies customers with several platforms offering over 480 savings products aimed at boosting customers and SMEs’ savings. With the new round pushing the total capital injected into the company to more than €195m, Raisin is set to develop its stateside presence for a 2020 launch. Not only does it aim to tap into the $12.7tn American savings market, but is also planning to open in two more European markets in 2019.
Moreover, Raisin is planning to further develop its technology, acquire talent and to broaden its product portfolio through 80 European partner banks. For instance, it signed a partnership with British Sterling Bank in August 2018.
CEO Tamaz Georgadze, CFO Frank Freund and COO Michael Stephan founded Raisin in 2012. Today it has brokered €14bn for more than 185,000 customers across the European continent. With the financial injection from Goldman Sachs, Raisin aims to grow these numbers further.
Commenting on the raise, Mr. Goergadze said: “This investment from such a renowned brand is a very encouraging confirmation for us that our core business, as well as growth strategy, are on the right track. We’re really proud to have Goldman’s backing, especially given the expertise in investment products, along with an extraordinary 150-year history and record of success.”
Rana Yared, managing director at Goldman Sachs Principal Strategic Investments, addedd: “Raisin has developed a unique savings marketplace with a solid business model, impressive growth and a loyal customer base. We are excited to support the company’s outstanding management team in executing their vision.”
Copyright © FinTech Global
