Raisin, a global savings and investment specialist, has raised €60m in a Series E funding round backed by Goldman Sachs.
The funding round also saw financial support from a new investor in the form of M&G’s Catalyst.
Raisin has been profitable for half a year and currently manages a total of €38bn assets under management for customers globally. In the past 6 months, AuM grew by more than 30%.
Raisin is experiencing high demand from consumers looking for competitive savings rates, and banks looking for attractive retail funding sources.
Through the new funding, Raisin claims it aims to give more consumers access to simple and convenient products by investing in new features, simpler processes and broader accessibility. Furthermore, the company aims to accelerate growth in the US market.
Raisin CFO and co-founder Frank Freund said, “We are delighted to continue our growth trajectory together with our partners and to welcome our new investors in our mission to make money perform better. The investment marks another important step in our objective to provide savers throughout the European Union, the United Kingdom and the United States with straightforward and fair products.
“As a Fintech pioneer, we provide the infrastructure to democratize the global savings and investments market – benefiting consumers and financial institutions alike. With the new commitment, we will be better positioned to bring value to even more consumers and partners. We are thrilled that we can thereby make a valuable contribution to the functioning and the efficiency of the financial market.”
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