Berlin-Based Raisin Banks €25 Million from Goldman Sachs

Goldman Sachs has invested in the FinTech startup which brokers deals with banks across Europe to land its customers high interest rate savings and investment products.

Breaking Down Barriers

This is Raisin’s second Series D funding in 2019, following the €100 million investment they received in February. Since its founding in 2012, the company has raised a grand total of €183.8 million. The company will use the new funding to break into the US market in 2020.

In an interview with StartupTV, CEO and Co-Founder Dr. Tamaz Georgadze said, “We do not see our model being present in the US so we are excited to open up the market both for banks and for consumers to use the best interest rates in the market.”

Raisin’s model opens up banking markets within Europe to give customers what they have titled the ‘Schengen Experience’.

They offer savings products in partnership with leading banks so customers can keep their bank accounts but profit from interest rates available across the entire European market. Raisin’s customers come from 31 different European countries.

On the Heels of Success

The announcement of the funding comes at the same time as the company’s achievement of successfully brokering €9.8 billion in savings while earning customers a total of €80.2 million in interest.

Raisin’s innovative savings and investment products strive to offer better rates and more transparency to customers.

With other unexpected moves such as purchasing a bank earlier this year, their choices represent a shift in the banking industry towards fresh thinking in an industry historically steeped in tradition.

 

 

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