Raisin Raised EUR 100 Million
Berlin’s dynamic fintech ecosystem is attracting more and more investment. The startup Raisin – known in the German-speaking world under the name WeltSparen – raised EUR 100 million in a fourth round of funding, boosting its total investor capital to EUR 168 million. This is the third-largest capital increase enjoyed by a German fintech startup, following EUR 130 million and EUR 260 million increases for the smartphone bank N26.
Started in 2012 by three former McKinsey consultants, the PayPal-backed company – which claims to be the “first and only pan-European deposit marketplace” – operates a time-deposit portal that has brokered investments worth EUR 11 billion with 70 partner banks in over 30 countries. The new capital will reportedly be put toward strategic acquisitions and further internationalization after launching branches in the Netherlands and the United Kingdom. In March, Raisin purchased Frankfurt-based MHB Bank, a leading service-banking provider for fintechs in Germany, to “offer one-stop service.”
The founders of Raisin (from left to right): Dr. Frank Freund, Dr. Tamaz Georgadze, Michael Stephan © Raisin GmbH