Berlin-based fintech Raisin has raised €60 million in a Series E funding round that welcomed two new investors, M&G’s Catalyst, and an undisclosed financial institution.
Given that existing backers including Goldman Sachs participated in the round, and the aim of the new investment, an educated guess might surmise that this undisclosed party is US-based. Having surpassed 1 million customers and claiming to be profitable for six months, the 11-year-old firm now turns its eyes to ramping up operations in the US market.
Since January of 2022, Raisin has banked €90 million, and approximately €263 million since mid-2014.
According to a statement issued by Raisin, they’ve recently surpassed the 1 million customer mark, thereby generating a total of €850 million in interest since its founding in 2012. Additionally, the company says its been profitable for six months and manages a total of €38 billion in savings and investment products for customers worldwide.
On the other side of Atlantis, Raisin opened its doors in 202, and according to the company, manages in excess of $1 billion in savings products.
“The current financing round is another important step towards our goal of offering savers in the European Union, the United Kingdom, and the United States uncomplicated and fair products,” sais Raisin CFO Dr. Frank Freund. “As a fintech pioneer, we provide the infrastructure to democratize the global savings and investment market from which consumers and financial institutions alike benefit. With the additional capital, we will be able to offer our customers an even better experience on our platforms in the future.