18 August 2017
visit www.avoka.com

Raisin raises €30 million

26 January 2017  |  5018 views  |  0 cash

European financial deposit marketplace Raisin has closed a €30 million Series C financing with a goal of expanding into new markets and broadening its product based beyond savings accounts to encompass new investment opportunities.

The round was led by US-based Thrive Capital - which has already invested in a number of successful startups such as Spotify, Slack, and Oscar - with participation of Raisin’s existing investors Palo-Alto-based Ribbit Capital and Index Ventures. Launched in 2013, Raisin has now raised a total of €60 million.

The new funding comes after a record year in which Raisin tripled the cash invested via the marketplace to over EUR 2bn, more than doubled the number of partner banks to 27 and broadened its reach from Germany and Austria to 31 countries across Europe.

Neil Rimer, partner at Index Ventures, Raisin’s early investor, says: "Europe is a continent of savers who tend to put 70-80% of their liquid assets into accounts earning almost zero interest and despite this, they hardly ever switch banks. The two billion euros that European savers have deposited with Raisin proves that offering higher interest rates and making it easy and painless for people to move their deposits between banks is an attractive proposition."
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

SavingsGlobal, an Amazon for EU savings, raises EUR20 million in funding

SavingsGlobal, an Amazon for EU savings, raises EUR20 million in funding

06 August 2015  |  6216 views  |  0 comments | 8 tweets | 3 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.euvisit www.niceactimize.comdownload the paper now

Top topics

Most viewed Most shared
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8641 views comments | 1 tweets | 3 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7021 views comments | 18 tweets | 22 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
6561 views comments | 20 tweets | 22 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
5818 views 1 | 5 tweets | 3 linkedin