Raisin completes takeover of MHB-Bank
MHB-Bank will be renamed Raisin Bank AG following its takeover as sole owner by German online savings marketplace Raisin, reports Jane Connolly.
The Frankfurt-based bank has been Raisin’s servicing bank in Germany and Austria since Raisin’s 2013 launch. Following the successful conclusion of ownership control procedures by the German regulator, BaFin, the acquisition has provided Raisin with a full banking licence, enabling it to enter new markets and extend its value chain.
Raisin Bank will remain a separate entity from Raisin and will continue to be a financial institution in its own right. Raisin’s German-language platform WeltSparen will be rebranded WeltSparen by Raisin.
The focus will be on banking-as-a-service for fintechs. Raisin Bank will continue to expand MHB-Bank’s specialised solutions for bank lending and escrow services. The bank has recently been developing digital solutions in account management, payments, credit, fully digitised loan origination and administration.
“The bank’s rebranding is the next move in a realignment, underscoring our strong focus on digitisation, fintech and banking-as-a-service,” says Dr Andreas Wolf, chief commercial officer of Raisin Bank. “The in-depth exchange of experience and knowledge with Raisin helps us support our cooperation partners even better. It also means we will soon be able to offer a broader palette of services with the most modern interfaces in digital retail banking business.”
In the last two months Raisin has received a €25 million investment from Goldman Sachs and taken over German retirement funds specialist Fairr.
