The British branch will be going live with its first partner bank, BACB, to offer a single registration process to multiple applications on UK savings products. The platform has said it is in talks to onboard more banks over the coming months, hoping to build a similar marketplace to its European brand.
Speaking about the launch, Raisin UK CEO Kevin Mountford said: “This represents the beginning of our journey to bring great partner banks with attractive offers to UK savers. Over time we will be introducing enticing marketplace features to offer savers a better deal for their money.”
Founded in 2013, Raisin surpassed €5bn of processed savings deposits in January this year. The company also received backing from payments giant PayPal in December, alongside other investors including Thrive Capital, Index Ventures and Ribbit Capital.