With a valuation of over one billion euros, Raisin is one of the most important German fintechs. Raisin offers a savings marketplace across Europe. It has raised €60 million in a Series E funding round. The fresh money will be used for growth in the USA, among other things.
The financial startup Raisin, known for the interest rate platform “WeltSparen | Das Zinsportal für Geldanlagen in Europa,” has raised €60 million in a financing round. The company announced that new and existing investors participated, including the U.S. investment bank Goldman Sachs. The money will be used, among other things, to drive growth in the lucrative U.S. market, where the company has been active since 2020.
With a valuation of over one billion euros, Raisin is one of the most essential financial startups in this country and has become significant with the platform “Weltsparen”. Private investors can compare offers for overnight or fixed-term deposits from many financial institutions and invest money abroad, where banks often pay higher interest rates than in Germany.
In addition, Raisin has savings plans for index funds (ETFs) and investments in cryptocurrencies. In addition to Germany and the U.S., the company also does business in several European countries and works with around 400 partner banks.
The company has recently significantly benefited from rising interest rates, making overnight and time deposits attractive again for savers. In the past six months alone, customer assets under management have grown by 30 per cent to now more than 38 billion euros, it said. It added that the company has been profitable for six months and has passed the one million customer mark.
Notable funding rounds have become rare in the German startup industry, as investors such as venture capital funds have been reluctant to inject money. The interest-rate-sensitive tech sector has been particularly affected by the sharp rise in interest rates. As a result, investments in German startups plummeted in 2022.