Goldman Sachs invests €25 million in Raisin
Pan-European savings marketplace, Raisin, has announced an investment of €25 million by Goldman Sachs.
The latest funding brings the total volume of primary investment to €195 million. The new injection of capital follows the fintech’s recent series D round of €100 million.
With the new funding, Raisin will build its stateside presence to prepare a 2020 launch in the $12.7 trillion US savings market and enter two new European markets within 2019.
Rana Yared, managing director at Goldman Sachs Principal Strategic Investments, says: “Raisin has developed a unique savings marketplace with a solid business model, impressive growth and a loyal customer base. We are excited to support the company’s outstanding management team in executing their vision.”
“This investment from such a renowned brand is a very encouraging confirmation for us that our core business, as well as growth strategy, are on the right track. We’re really proud to have Goldman’s backing, especially given the expertise in investment products, along with an extraordinary 150-year history and record of success,” added Raisin CEO and co-founder Dr. Tamaz Georgadze.
Following Raisin’s acquisition in 2017 of Manchester-based PBF Solutions, the start-up also bought its long-time servicing bank MHB-Bank in early 2019. Now, the fintech aims to further advance its technology, acquire top-notch talent, and broaden its product portfolio with the backing of Goldman Sachs.
Since its launch in 2013, Raisin has brokered €14 billion for more than 185,000 customers across the European continent, and has also built distribution partnerships with N26, Commerzbank, o2 Banking of Telefónica Germany and Yolt among others.
