Raisin lands €60m Series E funding round, passes 1 million customers

The company says it has been profitable for six months, with assets soaring more than 30 per cent. over this period, Raisin has raised cash to accelerate expansion.

Raisin, a fintech offering a savings marketplace across Europe, has raised €60m in a Series E funding round. 

The new round represents Raisin's first return to fundraising for four years after it landed €142m in 2019.

Raisin, using open banking, brings competitive savings rates for customers directly as well as through white-labelled integrations with third parties.

Since launching over a decade ago in 20212, Berlin-based Raisin has sailed past one million customers and  €38bn in assets under management.

While the company says it has been profitable for six months, with assets soaring more than 30 per cent in this period, Raisin has raised the new cash to accelerate its expansion and product launches. 

The money comes from M&G’s Catalyst, a $6bn private assets fund from the asset management giant as well as existing investor Goldman Sachs and an unnamed financial institution.

“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 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. With the new commitment, we will be better positioned to bring value to even more consumers and partner,” he added.

In Germany Raisin also offers ETFs and retirement products as well as private equity and crypto investments.

Raisin works with over 400 banks and financial service providers from more than 30 countries.  As well as the Raisin brand the company operates under the trading names WeltSparen and Zinspilot in Europe and in the USA under the SaveBetter brand.