FinTech Raisin lands €60m in Series E, exceeds 1m customers

By Gloria Methri

Berlin-based FinTech Raisin has raised €60 million in a Series E funding round, from existing and new investors. The global savings and investment company had recently exceeded 1 million customers, for which a total of €850 million in interest was generated since its establishment in 2012.

With the new funds, Raisin aims to invest in new features, to give more consumers access to simple and convenient products. The FinTech also looks to accelerate growth in expanding markets such as the United States, where Raisin entered in 2020.

Raisin has raised money in this round from two new investors – a global financial services institution and M&G’s Catalyst, a $6 billion purpose-led global private assets strategy – and from existing investors such as Goldman Sachs.

Dr Frank Freund, Chief Financial Officer and Co-Founder of Raisin 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.”

“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.”

Niranjan Sirdeshpande, Head of Global Investments for M&G Catalyst, added, “We are excited to be supporting Raisin’s impressive growth story as they seek to improve outcomes for savers of all ages across Europe, the UK, and the US and reduce barriers and inefficiencies in the financial system.”

Raisin was supported by Goldman Sachs Bank Europe which acted as the sole placement agent on the transaction.