20 June 2018
Visit www.worldwealthreport.com/

Raisin acquires PBF Solutions to enter UK market

20 September 2017  |  5445 views  |  0 Pound note Queen Close up

European financial deposit marketplace Raisin has made its first acquisition, Manchester-based PBF Solutions, as it prepares to enter the UK savings market.

Launched in 2013 by former MoneySupermarket banking head Kevin Mountford, PBF provides customer acquisition, onboarding and marketing services to challenger banks and overseas institutions entering the UK market. The company claims to have helped clients secure over £3.1 billion of retail and business deposits and investments through the acquisition of 150,000 new customers.

For Raisin, which offers retail customers a choice of savings products from a panel of over 40 banks, the acquisition provides a foothold in the dynamic UK banking market, and a local base untroubled by Britain's forthcoming exit from the European Union.

Tamaz Georgadze, Raisin’s CEO and founder, says: "Together with PBF we are bringing our solution to the UK savings market, with a single digital solution for banks and an integrated proposition for savers."

Founded in Berlin in 2013, Raisin closed a €30 million Series C financing round in January with a goal of expanding into new markets and broadening its product based beyond savings accounts to encompass new investment opportunities.

To date more than 90,000 European customers have invested over EUR 4.3 billion into Raisin marketplace deposits. The 120-people strong company operates country-dedicated platforms in Germany, France, Spain, and Austria alongside its European platform www.raisin.com. Earlier this month the firm announced its expansion into the business deposit marketplace.

PBF CEO Kevin Mountford will assume overall responsibility for the UK expansion of Raisin and preside over an expanded team as the firm rolls out new products for the UK's savings market.

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

Raisin takes on business deposit market

Raisin takes on business deposit market

14 September 2017  |  7198 views  |  0 comments | 3 tweets | 2 linkedin
N26 moves into savings market with Raisin API

N26 moves into savings market with Raisin API

10 May 2017  |  7496 views  |  0 comments | 8 tweets | 13 linkedin
Raisin raises €30 million

Raisin raises €30 million

26 January 2017  |  6433 views  |  0 comments | 4 tweets | 4 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit https://info.nice.com/Visit www.abe-eba.eu

Top topics

Most viewed Most shared
GPS raises £44 million to fund international growthGPS raises £44 million to fund intern...
12807 views comments | 5 tweets | 8 linkedin
Ripple exec says DLT not ready for banks...yetRipple exec says DLT not ready for banks.....
11222 views comments | 11 tweets | 33 linkedin
UK launches £2.5bn startup initiativeUK launches £2.5bn startup initiative
10100 views comments | 33 tweets | 27 linkedin
Live: EBAday2018, day twoLive: EBAday2018, day two
8256 views comments | 4 tweets | 6 linkedin
DBS to use robot to screen applicants for human jobsDBS to use robot to screen applicants for...
8139 views comments | 3 tweets | 6 linkedin

Featured job

Find your next job