Berlin-based fintech Raisin has raised €60 million from new and existing investors in a Series E funding round, having recently exceeded one million customers.
With the proceeds from this round, Raisin will be able to add new features, simplify processes and broaden accessibility, as well as accelerate growth in expanding markets, such as the US, which it entered in 2020.
In 2022 alone, Raisin added more than $1 billion in assets under management in the US, where it operates under the brand ‘SaveBetter’.
Two new investors participated in the Series E round, one of which is a global financial services institution and the other is M&G’s Catalyst, which is a $6 billion purpose-led global private assets strategy.
Goldman Sachs was among Raisin’s existing investors to participate in the fundraising.
“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,” said Dr Frank Freund, chief financial officer and co-founder of Raisin.
“As a fintech pioneer, we provide the infrastructure to democratize the global savings and investments market – benefiting consumers and financial institutions alike.”
He added: “With the new commitment, we will be better positioned to bring value to even more consumers and partners.”
Raisin was founded in 2012 and now has €38 billion in assets under management.
Since then, it has generated a total of €850 million in interest for its customers.
Niranjan Sirdeshpande, head of global investments at 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 US, and reduce barriers and inefficiencies in the financial system.”
Main image L-R founding team: Dr Tamaz Georgadze, Katharina Luth, Michael Stephan and Dr Frank Freund.