Raisin raised the capital in the latest round from new investors, including M&G’s Catalyst, and existing investors, such as Goldman Sachs
Raisin, a Berlin, Germany-based savings and investment fintech for consumers and banks, has raised €60m in a series E funding round.
With the new funding, Raisin aims to give direct customers access to “simpler and convenient” products and plans to invest in new features, simpler processes and broader accessibility.
The funding will also be used to accelerate growth in expanding markets, such as the US, where Raisin entered in 2020.
Raisin raised the capital in the latest round from new investors, including M&G’s Catalyst, and existing investors, such as Goldman Sachs.
The savings and investment fintech recently exceeded 1m customers, for which a total of €850m in interest has been generated since founding the company in 2012.
Dr Frank Freund, chief financial officer and co-founder of Raisin, commented: “The investment marks another important step in our objective to provide savers throughout the EU, the UK and the US with straightforward and fair products.
“As a fintech pioneer, we provide the infrastructure to democratise the global savings and investments market—benefiting consumers and financial institutions alike.”
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 US and reduce barriers and inefficiencies in the financial system.”