Raisin reaches €50bn AuM milestone and appoints former Bundesbank president Axel Weber to its board

After teasing the milestone earlier this year, German savings giant Raisin has now reached €50bn in assets under management.

CEO and co-founder Dr Tamaz Georgadze pointed to the vast shift in monetary policy from central banks which have lifted interest rates and stimulated a boom in savings.

It was just nine months ago that Raisin hit its last milestone of €30bn in December 2022, with 66 per cent growth during the period.

Georgadze called the €50bn figure “proof of how beneficial our model is for both banks and consumers.”

“But this is just the beginning. We still have immense potential to capture the gigantic market of over 95 trillion euros in deposits and investments in the EU, the UK, and the U.S.”

Since the company’s founding in 2012 its customers have now earned €1bn in interest alone, and compared to the average interest rates in their home markets, that’s an additional €570m than they would have earned from a high street bank.

“Our goal is to help even more consumers and banks optimize their financial performance and achieve outstanding results,” Georgadze added.

As well as the milestone, Raisin also this week appointed Axel Weber, the former president of Germany’s central bank, the Bundesbank, as a director and adviser to its board.

In March Raisin raised a €60m Series E funding round, its first fundraise since 2019, as it passed 1 million invested customers.