The deposit marketplace Raisin today announced it has reached more than €1.7 billion in invested volume. As of today and thanks to the availability of its platform across the entire European Union, over 50.000 customers have trusted Raisin and invested this milestone amount with Raisin’s partner banks.
Under the brands WeltSparen and Raisin, Raisin GmbH offeres an online marketplace for deposit products of partner banks in the European Economic Area since 2013. With the launch of Raisin, the platform is now available across Europe. Berlin-based Raisin gives customers the possibility to open deposits at attractive interest rates across Europe free of charge. Previously, customers had to contend with varying, complex account opening procedures in foreign languages, sometimes requiring physical presence in the country.
With Raisin, all deposits are 100% guaranteed up to €100,000 per saver and bank by each national Deposit Guarantee Scheme in accordance with EU directives. Raisin doesn’t charge any set-up fees and offers attractive interest rates via its 20 partner banks.
“Raisin is not just one of the few truly pan-European startups, but also the only European startup on the investment side to have reached the amount of €1.7 billion invested – 5 months faster than Betterment and Wealthfront – the only other two investment FinTechs to have made it into multi-billion asset size” declares Dr. Tamaz Georgadze co-founder and CEO of Raisin.
He continues that “Achieving the second billion is now in very close reach and we expect to reach it before the year is over. Reaching the second billion is definitely easier than the first”.
This landmark amount does not only represent a great business success for Raisin. It also translates to Raisin customers earning more than five-fold the interest they would have earned if they had invested at average interest rates since the launch of services. Raisin savers thus gain a nice upside in today’s low interest rate environment.
Reaching this milestone also coincides with a second milestone for Raisin as today its 20th partner bank joined the platform: Haitong Bank from Lisbon. Haitong Bank is a Portuguese subsidiary of Haitong Securities, founded in 1988 and counting over 340 subsidiaries.