By Oliver Smith on 7th March 2019
With fresh cash in the bank, the fintech makes a new acquisition.
“Together with MHB, we can continue to develop — and seamlessly integrate — the services we offer customers, partner banks and distribution partners.”
Raisin operates a savings marketplace with products from 62 banks across Europe, many of which boast higher savings rates that would otherwise be available.
The company currently has 160,000 customers and has brokered €11bn on its platform since it was launched in 2013. In total the platform has now raised $200m from investors since launch.
In 2016 MHB had over €500m in assets under management and, interestingly, Raisin will also acquire a banking licence as part of the takeover.
Terms of the deal were not disclosed.