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Raisin has over 100,000 customers and launched investment products for their customers in Germany; customers will be able to choose from index or exchange traded funds from Vanguard or DAB BNP Paribas that cost less than .5%; Germany is a newer market for Vanguard which listed its ETFs on the German stock exchange last year. Source
Deposit Marketplace Raisin has seen their investor count top 100,000, bank partners top 40 and deposits cross $4.5bn; the bank partners are in 18 different european countries and customers hail from 32 different countries; with interest rates so low their deposit marketplace offers savers a significant boost in interest and they have seen customers earn more than $41mn in excess interest thus far. Source.
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Deposit marketplace Raisin moved into the UK market by acquiring Manchester-based fintech PBF Solutions; Tamaz Georgadze, Raisin’s CEO and founder, tells AltFi “The acquisition of PBF gives us the opportunity to significantly broaden our offer to UK savers and deposit takers." Source.
Raisin offers a platform to offer savings account options across Europe; they currently have over 100,000 customers; the funds will be used to accelerate growth across Europe. Source
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Raisin is looking to expand on their deposit marketplace by offering a term deposit product to European SMEs; this will allow SMEs to earn money on their cash instead of dealing with negative interest rates that have been prevalent across Europe; currently Raisin has enlisted Banco BNI Europa from Portugal, Younited Credit from France and Greenhill Bank from Germany in the product. Source.
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